Crypto Eri, a prominent figure in the XRP community, recently took to X to share clarification around the anticipatory timelines for Ripple to conduct its much-awaited initial public offering (IPO).
In the tweet, Eri commented on the Ripple IPO subject, citing comments from Dushyant Shahrawat, Director of FinTech Investment Banking at Rosenblatt Securities.
In the statement, Shahrawat elaborated on the depressing performance of prominent financial technology companies in both the public and private markets. He highlighted the decline in stock value for well-known companies and private firms’ valuation.
He argued the underperformance of the fintech firms affects investment decisions across various stages of development, from early-stage companies to late-stage unicorns.
Emphatically, the speaker sees the struggles of key players in the fintech sector as potentially hurting the broader market and influencing the trajectory of other private fintech companies, especially those considering going public.
“So all the private fintech companies and unicorns that were waiting in the wings to go public, that time frame has been pushed back a little bit,” Shahrawat submitted.
You can walk the hallways here, you've got @Circle, @Ripple….All the private fintech companies, unicorns, that were waiting in the wings to go public…"
"That time frame (to IPO) got pushed back
a little bit, quite a bit"Dyshyant Shahrawat, previously with Fidelity, Tower… pic.twitter.com/kfGdHh5uen
— ?Crypto Eri ?Carpe Diem (@sentosumosaba) November 24, 2023
It Applies to Ripple and Circle
Moreover, when the host pressed whether the situation equally impacts the crypto space, Shahrawat responded affirmatively. He cited examples using the payment firm Ripple and the issuer of USD Coin (USDC) Circle.
Recall that The Crypto Basic reported earlier this month that Circle could orchestrate an IPO like Ripple in the coming months.
Overall, Crypto Eri aims to highlight, based on Shahrawat’s commentary, that the expected Ripple IPO may not materialize as quickly as some members of the XRP community are speculating, given the bearish tread in the fintech landscape.
Notably, this comes amid popular suggestions within the XRP community that the Ripple IPO might take place in early 2024.
Earlier this month, Crypto Eri also urged caution in discussing the potential Ripple IPO by drawing comparisons with similar companies. She emphasized the broader sentiment regarding IPOs in the financial market and cited companies that have postponed initially announced IPO dates amid the current market situation.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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