Crypto community members react mixed to news of Ripple's planned IPO

There have been mixed reactions from members of the crypto community over the news of Ripple's planned IPO. Well-known XRP and Ripple commentator GreenEggsnHam tweeted that he was disappointed to hear the news. He specifically mentioned the fact that Ripple has "$ 500 million in cash and billions of dollars in XRP escrow funds", suggesting that the company does not need to raise funds in the open market. "This is just a wealth transfer mechanism, and I find it very disgusting. Ripple has no reason to be a public company-they don't need capital." Its comments received hundreds of likes from others in the crypto community. On the other hand, cryptocurrency trader Credible Crypto shared an article by Ripple community member Hodor, which explained the potential impact of an IPO on Ripple itself. By analyzing the IPO data of Uber, Facebook, Visa and other fintech companies, Hodor reckons that Ripple may be able to raise $ 5 billion in funds through the IPO. "Usually, the inflow of funds from the IPO will be used by the company to expand and achieve more than other Higher levels of growth. ”Hodor believes that if his calculations for this multi-billion dollar IPO are correct, the company can conclude large business deals, launch strong marketing campaigns, and acquire many companies to help drive The adoption of its technology.