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News

Ripple CEO Brad Garlinghouse Says The Company Is Considering Acquisitions.

June 3, 2022 - Around 2 mins mins to read

In the future, Ripple CEO Brad Garlinghouse said the San Francisco-based payments company may consider buying other crypto ventures.

Ripple CEO Brad Garlinghouse Says The Company Is Considering Acquisitions.
Ripple CEO Brad Garlinghouse

Ripple, according to Garlinghouse, has a “very strong balance sheet” and is at a point in its development when it is more likely to be a buyer than a seller.

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

The CEO believes that mergers and acquisitions will become more common in the crypto market.

He believes that [mergers and acquisitions] in the blockchain and crypto area will increase. Garlinghouse also adds that Ripple also intends to consider an initial public offering (IPO) if its ongoing case with the US Securities and Exchange Commission is resolved.

Ripple CEO Brad Garlinghouse Says The Company Is Considering Acquisitions.
Ripple CEO Brad Garlinghouse Says The Company Is Considering Acquisitions.

The San Francisco payments firm isn’t the only one considering acquisitions: Brett Harrison, president of the crypto exchange FTX.US, tells CNBC that his company is looking into “potential merger and acquisition opportunities” to help it get more users and/or governmental licenses.

“We’re doing that globally, in places like in Japan, Australia, in Dubai, different places where we’ve been able to either partner with local companies or sometimes do acquisitions to be able to get licenses that we need.”

Last week, FTX CEO and co-founder Sam Bankman-Fried told Bloomberg that his organization had set aside more than $2 billion from fundraising events to invest in other companies.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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