Ripple’s Chief Technology Officer (CTO), David Schwartz, touched on the liquidity dynamics between Ripple shares and XRP during their discussions about Ripple’s potential initial public offering (IPO), igniting curiosity among enthusiasts. Schwartz brought up his conviction regarding the higher liquidity of the XRP coin as compared to privately held shares of companies, which is usually
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Ripple’s Chief Technology Officer (CTO), David Schwartz, touched on the liquidity dynamics between Ripple shares and XRP during their discussions about Ripple’s potential initial public offering (IPO), igniting curiosity among enthusiasts. Schwartz brought up his conviction regarding the higher liquidity of the XRP coin as compared to privately held shares of companies, which is usually questioned.
Schwartz’s speech points out that stock ownership is more complex than the simple speculations on Ripple shares. Speculation arose about the nature of Schwartz’s holdings and the implications of an IPO, alongside discussions on stock vesting periods and tax considerations.
Schwartz himself expressed discomfort with the level of risk associated with his current stock holdings and hinted at potential actions to manage this risk. He disclosed the possibility of selling Ripple stock to buy more, citing expiring options and significant tax considerations.
Funny story: I actually may have to sell some more Ripple stock soon in order to buy more Ripple stock. I have some options to buy Ripple stock that I’ve had for so long, they’re close to expiring. But exercising them has a huge tax cost.
— David “JoelKatz” Schwartz (@JoelKatz) April 23, 2024
Ripple IPO Plans Amid Legal Battle and Regulatory Hopes
On the other hand, Brad Garlinghouse, XRP CEO, made earlier comments pertaining to evaluating IPO alternatives around the world, and the United States is not the only place where Ripple will go public. However, plans were suspended for the interim owing to the enforcement of a legal battle between Ripple Labs (SEC). The company’s president said that the change in a regulator’s chief and enhanced regulatory level may help IPOs in the future.
Amidst XRP’s valuation of $11 billion and investors’ debates about its development direction, no one seems to dismiss the company’s role, which becomes in line with the legal uncertainties and developments related to regulations.
XRP Price Dips 3% Amid Ongoing Volatility
Meanwhile, the XRP token is experiencing bearish sentiment, with its price bleeding by over 3% over the past 24 hours. Trading at $0.5276, XRP has established a support level at $0.5249 and a resistance level at $0.5547 amidst ongoing market volatility.
In other developments, Ripple Labs recently announced promotions within its executive team. Jon Bilich was appointed as the new Chief Financial Officer (CFO) of Ripple Labs. At the same time, Mariel Kelley was upgraded to the position of Senior Vice President (SVP) of People and Places. XRP CEO Brad Garlinghouse acknowledged the significant contributions made by both individuals to the Ripple ecosystem.
Read Also: Pro-XRP Lawyer Slams Judge Torres’ Interpretation Of ODL Sales
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