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Fintech firm Ripple has put its plans to become a public company on hold after exploring markets outside the U.S. The San Francisco-headquartered company Ripple has paused its plans for an initial public offering (IPO) after reports revealed that the firm started buying back hundreds of millions of dollars worth of shares from its shareholders. In an interview with CNBC, Ripple CEO Brad Garlinghouse confirmed the buyback, revealing that the company has repurchased $1 billion of its shares so far. While keeping the option for an IPO open, Garlinghouse emphasized that going public is not an immediate priority right now. “And we’ll evaluate again [going public], as we have new regulators sitting at the United States SEC.” Brad Garlinghouse You might also like: Whales respond to Ripple’s $285m buy-back plan: XRP price rally imminent? Addressing the share buybacks, Garlinghouse highlighted the importance of providing liquidity to long-term investors who s...

Ripple Labs initiated a $285 million share buyback, valuing the company at $11.3 billion, amid regulatory uncertainties. On Jan. 10, Ripple Labs, a cryptocurrency company famous for XRP, announced a buyback of $285 million in company shares from early investors and employees, valuing the firm at $11.3 billion. The tender offer allows investors to sell up to 6% of their stake . Confirming the buyback, Ripple disclosed plans to allocate $500 million for the repurchase , covering the conversion of restricted stock units into shares and associated taxes. Ripple to buy back $285 million of its shares, valuing company at $11 bln – sources https://t.co/qK0NXKYRLt pic.twitter.com/maaeoF0TXN — Reuters (@Reuters) January 10, 2024 You might also like: Talk of spot ETF lifts XRP, whales tracking ETH, INJ, and ROE Ripple aims to conduct regular share buybacks to enhance liquidity for investors and has no immediate plans to go public in the U.S., citing regulatory unce...