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Ripple CEO Optimistic Crypto Industry Will Be Stronger After FTX Fiasco If Transparency And Trust Remain Focus – Featured Bitcoin News
Ripple Labs CEO Brad Garlinghouse believes the crypto industry will emerge stronger from the FTX meltdown if transparency and trust remain the main focus. He emphasized the importance of having “honest conversations about solving real problems with crypto and blockchain.”
Ripple’s CEO Optimistic About Crypto’s Recovery After FTX Meltdown
Ripple Labs CEO Brad Garlinghouse on Wednesday shared his opinion on the crypto industry’s rise following the collapse of FTX during Ripple Swell, an annual conference held by Ripple. FTX filed for Chapter 11 bankruptcy last week.
Garlinghouse echoed what he said on stage at the conference, tweeting:
I am convinced that crypto will become stronger because of this if we continue to focus on transparency and trust. Ripple has and will continue to lead in this regard.
“With everything that’s happened in the last few weeks (and during this year’s ups and downs), it feels even more imperative that we’ve come together in person to have honest conversations about solving real-world problems with crypto and blockchain,” he wrote in a follow-up tweet.
Garlinghouse told CNBC on Wednesday that the idea that crypto is not regulated is “overblown,” adding:
Crypto has never been all sunshine and roses and as an industry it needs to mature… Transparency builds trust.
Ripple is currently seeking a license in Ireland to pursue EU expansion, the company’s general counsel, Stuart Alderoty, told the news agency on Friday.
The firm’s European expansion drive comes in anticipation of a new regulatory framework provided by the Markets in Crypto-Assets (MiCA) bill, which seeks to harmonize rules for crypto-assets across EU countries. “I think MiCA is a very good start,” Alderoty said.
Regarding the US Securities and Exchange Commission (SEC) lawsuit against Ripple, Garlinghouse and co-founder Chris Larsen over the sale of XRP, both Alderoty and Garlinghouse expect a decision in the case to come in the first half of 2023. Final legal briefs are due by November 30 , after which a judge can either decide or refer it to a jury trial. “We are at the beginning of the end of the process in our case,” Alderoty said.
Do you agree with Ripple CEO Brad Garlinghouse? Let us know in the comments section below.
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