Why Won’t Ripple Go Public? US Midterms Might Be The Reason

Core Viewpoint - Ripple has confirmed it has no plans for an initial public offering (IPO) in the foreseeable future, citing a strong financial position and the absence of a need for external funding following a recent $500 million funding round [1][2][3]. Financial Position - Ripple recently raised $500 million, led by affiliates of Fortress Investment Group, Citadel Securities, and Pantera Capital, which valued the company at $40 billion [2]. - The company is well-capitalized with billions in reserves, allowing it to avoid the need for external financing [2][3]. Strategic Caution - Ripple is adopting a cautious approach regarding the US market, influenced by potential regulatory changes and the upcoming 2026 midterm elections [4][5]. - The company aims to remain private to avoid the transparency and regulatory scrutiny associated with public listings [3]. Political Landscape - The outcome of the 2026 midterm elections could significantly impact the regulatory environment for cryptocurrency, prompting Ripple to exercise strategic caution [5]. - The Republican Party currently holds a 53-47 majority in the Senate, needing a net gain of four seats to regain full control after the elections, although this outcome is uncertain [5][6].