- Ripple’s lawsuit victory over the SEC united employees as transparency built solidarity within the company.
- Despite regulatory challenges, Garlinghouse believes the SEC will not be able to hinder the growth of cryptocurrency.
In an interview on the “World Class” podcast, Ripple CEO Brad Garlinghouse highlighted his concerns about the U.S. government’s intentions towards Tether, the leading issuer of the USDT stablecoin. He said, “The U.S. government is going after Tether. That is clear to me.” Garlinghouse emphasized Tether’s importance in the cryptocurrency market while expressing uncertainty over the effects of government action on the industry.
Garlinghouse, Ripple’s CEO since 2016, recounted his initial doubts about Bitcoin’s ability to replace traditional banking in 2012, leading him to align with Ripple’s approach of integrating cryptocurrencies into existing financial systems.
He chose to work with Ripple over joining Uber after learning about the “Internet of Value” concept from Ripple co-founder Chris Larsen and recognizing the potential of the XRP token.
During the interview, Garlinghouse admitted that leading Ripple had been challenging and lonely compared to his time at Yahoo when he had more colleagues. He described the emotional toll of facing a lawsuit by the U.S. Securities and Exchange Commission (SEC) and said that Ripple employees felt united because the company was transparent about its legal battle.
Covered everything from making a dent in the universe with @Ripple to the lessons learned over the years in Silicon Valley with @imchrisvasquez — thanks for the chat! https://t.co/0x7l0sn64Y
— Brad Garlinghouse (@bgarlinghouse) May 10, 2024
He breaking down in tears when Ripple partially won the lawsuit against the SEC on July 13, 2023, marking a high point for the company and its staff.
Despite the regulatory hurdles, Garlinghouse is optimistic about the future of cryptocurrency, noting that the SEC’s attempts to regulate the industry would likely fail over time. He believes that current regulatory issues are temporary challenges and dismissed the potential threat of quantum computing to the sector.
This interview provides insight into Garlinghouse’s views on the complexities of the cryptocurrency industry while reflecting the ongoing regulatory scrutiny faced by prominent companies like Ripple and Tether.
The current price of Ripple (XRP) is approximately $0.5034 USD. Based on recent technical analysis and market trends, I expect the price of XRP could rise slightly in the coming weeks, potentially reaching around $0.55 USD.
