John Deaton: "Ripple doesn't need to rush its IPO... If it happens, the market cap could reach $100 billion"

Recently, as Circle Internet Group, the issuer of USDC, performed well in the stock market, interest in IPOs of virtual asset (cryptocurrency) companies has surged. While the market is also paying attention to whether Ripple, the issuer of XRP, will go public, there is an opinion that if Ripple lists, its market cap could reach $100 billion.

On the 24th (Korea time), attorney John Deaton said on his X (formerly Twitter), "The main reason for a company to go public is to raise capital, but Ripple currently doesn't need to raise capital," adding, "Brad Garlinghouse, Ripple's CEO, will not rush into an IPO." Attorney Deaton is a prominent pro-Ripple lawyer who participated in the Ripple trial as a representative for XRP investors.

He added, "Timing is the key in an IPO, and if Circle can reach a market cap of $62–75 billion, considering the XRP held by Ripple, Ripple could secure at least a $100 billion market cap."

Meanwhile, overnight, Circle Internet Group closed at $263.45 on the New York Stock Exchange, up 9.64% from the previous session. In after-hours trading, it further increased by 2.69% to $270.54. Circle's current market capitalization stands at $58.6 billion.