Ripple, issuer of $XRP, posted a job opening for a senior shareholder communications manager, fuelling speculation among the crypto community about a potential initial public offering (IPO).
This position, open to candidates worldwide, emphasises the need for direct shareholder engagement, a common practice among publicly listed companies. Responsibilities would include strategising for “M&A [mergers and acquisitions], investments, liquidity events, and other high-impact moments”.
This development comes amidst Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC). The judge ruled against the SEC in July, stating that XRP is not a security when sold on crypto exchanges.
New Ripple role sparks IPO speculation
The job description has been noted for its emphasis on responsibilities typically aligned with a company’s transition to public status.
Ripple is seeking a professional to handle communications with various stakeholders, including “existing and prospective investors, current shareholders, and financial analysts.”
Additionally, the candidate would be responsible for preparing investor materials and maintaining a database of shareholder information — common practices within publicly traded companies.
One particular aspect of the job posting that stands out is the reference to preparing for “liquidity events”, a term often associated with significant financial transitions, including IPOs.
Crypto community and Ripple executives talk IPO
This new job posting has not gone unnoticed, with several members of the online crypto community suggesting it could be a sign of an upcoming Ripple IPO. The speculation is also backed by previous comments from Ripple’s executives hinting at the possibility of the company going public.
One user posted on X: “The only reason you need a Shareholders Communication Manager… is for an IPO.”
Another said: “When Ripples IPO’s, institutions will perceive it as a green light to invest in XRP. Big money coming.”
Previous IPO rumours
There has been speculation in the past about a potential Ripple IPO announcement. In late September, Ripple hosted a gathering that was in part a celebration of a significant legal victory against the SEC in July.
The timing of the party led to rumors that Ripple might have been gearing up to share news about its next corporate moves, potentially including plans for an IPO.
Analysts speculated that this could have a substantial impact on XRP’s value and Ripple’s standing in the cryptocurrency market.
Ripple vs SEC
These IPO rumors have surfaced as Ripple continues to defend itself against a lawsuit from the SEC, initiated in December 2020. The regulatory body accused Ripple of conducting unregistered securities transactions by selling XRP.
The case has been closely followed by the cryptocurrency community worldwide. It has implications for the broader regulatory landscape, where exchanges like Binance and Coinbase are facing similar allegations of selling unregistered securities.
Despite the legal challenges in the US, Ripple executives maintain that the company’s main business is global, rather than America-based.
