Ripple Rules Out IPO Plans Despite SEC Victory and Record Growth

Despite achieving one of its biggest legal wins against the U.S. Securities and Exchange Commission (SEC), Ripple Labs has officially decided not to pursue an initial public offering (IPO) — at least for now. The decision comes amid record company growth, new strategic investors, and increased momentum across the broader blockchain sector.

Ripple Confirms No Timeline for Public Listing

In a recent Bloomberg interview, Ripple President Monica Long stated that the company has “no plans or timeline for an IPO.” She emphasized that Ripple remains financially strong and self-sufficient.

4/ RLUSD crossed the $1B market cap mark…the first of many big milestones to come! https://t.co/FJi0IKB2jd

— Monica Long (@MonicaLongSF) November 5, 2025

The announcement effectively ends years of speculation surrounding Ripple’s potential public debut — speculation that dates back to before its $1.3 billion SEC lawsuit in 2020.

Ripple’s Financial Position Strengthened by Institutional Support

Ripple remains privately held and does not publicly disclose full financial results. However, CB Insights estimates its 2024 revenue at $1.3 billion. Long declined to confirm figures but highlighted rapid customer expansion, driven by the adoption of Ripple’s USD-pegged stablecoin, RLUSD, and improving global regulatory clarity.

The company also revealed a $500 million strategic investment round, featuring major institutional backers such as Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. Ripple said the funds will support liquidity for shareholders and employees, noting that it has repurchased over 25% of its outstanding shares in recent years.

The new funding follows Ripple’s $1 billion tender offer, which valued the company at roughly $40 billion, signaling strong investor confidence even without a public listing.

Industry Momentum Builds as Ripple Stays Private

Ripple CEO Brad Garlinghouse confirmed earlier this year that the SEC dropped its case against the company in March — a landmark victory that many believed would pave the way for an IPO. Garlinghouse had previously described going public as a “natural evolution” for Ripple back in 2020.

However, despite its strong market position, Ripple is choosing long-term control over short-term liquidity, distinguishing itself from other crypto firms such as Circle, Bullish, and Gemini, all of which have gone public in 2025.

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