New Statements from Ripple CEO: “For the Next 12 to 18 Months…”
Ripple CEO Brad Garlinghouse spoke about the future of XRP in his statement. Here are the details.
Ripple CEO Brad Garlinghouse addressed key concerns about the U.S. Securities and Exchange Commission (SEC) and its ongoing legal battles with the crypto industry in a recent interview with journalist Eleanor Terrett.
The meeting focused on the SEC's cross-appeal regarding the definition of an investment contract under the Securities Act and its implications for the industry.
Garlinghouse was responding to investor Anthony Pompliano’s question: “If cryptocurrencies were to be considered an investment contract, would that change the classification under which people like Coinbase and others allow investment contracts on their platforms?”
“If the SEC prevails at this point, it would be a terrible situation for the industry. It would just push more of it offshore,” Garlinghouse warned, citing the potential for regulatory ramifications to push crypto innovation away from U.S. ports.
Pompliano also pressed Garlinghouse to offer something positive about SEC Chairman Gary Gensler or the agency’s role in the cryptocurrency landscape. Garlinghouse’s response was striking: “There will be a new SEC chairman.”
The debate continued with Pompliano bringing up the SEC’s approval of the Coinbase IPO and Bitcoin ETFs, which he contrasted with the agency’s otherwise hostile approach to the crypto industry. Garlinghouse didn’t hold back in his criticism: “They approved the ETF with a lot of squealing. They were dragged through court. They were forced to do this, and if they’re taking credit for approving the Bitcoin ETF, that’s bullshit.”
Despite the regulatory challenges, Garlinghouse expressed optimism about Ripple’s growth over the next 12 to 18 months, noting that institutional interest has increased after Ripple’s recent Swell event, where talks were held with some of the world’s largest banks.
“And it’s not just about Ripple’s payment flows,” Garlinghouse said. “We’re in the custody business now, we’re even getting into the stablecoin business. There’s a lot of reason to be optimistic.”
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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