Ripple CEO Brad Garlinghouse used an on-stage conversation with Dan Morehead at Pantera’s Blockchain Summit 2025 to push back—again—on the notion that Ripple needs to list anytime soon, even as the company leans into aggressive buybacks, fresh capital, and M&A. The recording of the discussion was posted by Pantera on X on November 6.

Is A Ripple IPO Coming?

Pressed by Pantera on shareholder liquidity and tender offers, Garlinghouse disclosed the scale and cadence of Ripple’s private-market strategy. “We’ve actually repurchased over 25 percent of the company. We’ve spent $4 billion buying shares back from our shareholders,” he said, adding that “just yesterday [we] closed another billion dollar tender offer, valuing Ripple at about 40 billion dollars.”

He framed the approach as deliberat

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