Ripple (XRP) looks at options for takeover of crypto companies

Last Updated: 6 June 2022

Good news for the XRP-army: Ripple has remained very strong despite the lawsuit against the SEC. So strong, in fact, that the CEO says the company may be planning to take over other crypto companies in the future.

Ripple has invested in 30 or 40 companies

Brad Garlinghouse, the CEO of Ripple, tells CNBC that the company has a “very strong balance sheet”. He says Ripple is in a phase of growth where it will be a buyer rather than a seller.

“I would say there is a lot of growth in crypto, and we are looking at a lot of different segments in crypto for growth. Some of that we will obviously build internally – the carbon credit initiative is something we have kicked off internally – but we have invested in over 30 or 40 companies around the crypto ecosystem, and we will continue to look at opportunities to grow through external acquisitions as well.”

‘There will be an uptick in acquisitions’

Garlinghouse doesn’t think the idea of crypto companies buying each other is a crazy idea. The CEO thinks there will be an increase in mergers and acquisitions across the crypto space.

“I think there will be an uptick in mergers and acquisitions in the blockchain and crypto space. We haven’t seen that yet. But I think it’s likely in the future. And I certainly think if that unfolds, we would consider that kind of thing.”

Ripple to go public?

Garlinghouse went on to say that the company may be planning to go public. This would be a big step for Ripple, but first the company has other important things to focus on. An IPO would not be possible until the ongoing court case with the US Securities and Exchange Commission (SEC) is over.

Judging by Garlinghouse’s attitude, things have been going very well for Ripple against the SEC recently. If it is up to him, he will win the court case soon, Ripple will be listed on the stock exchange, and it will take over a lot of crypto companies.

Author

  • Steven Gray is a journalist with a heart for crypto. He filters the wide range of news and ensures that it reaches the public in a comprehensible way. He often does this with the support of technical analysis.

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