On January 16, Brad Garlinghouse engages in a conversation with CNBC Senior Tech Correspondent Arjun Kharpal, on various aspects of Ripple’s future, blockchain technology, and the crypto industry’s progression.
SEC’s Stance and Gary Gensler’s Role
Brad Garlinghouse expressed his views on the U.S. SEC and its chair, Gary Gensler. He criticized Gensler for repeating the same actions and expecting different outcomes, suggesting that Gensler has become a political liability in the United States.
Prospects of a Spot Ethereum ETF Getting Approved by the SEC
Garlinghouse called the approval of a spot Ethereum ETF in the U.S. “a certainty.” He criticized the SEC’s approach, noting that the approval of the spot Bitcoin ETF only came after a US court deemed the SEC’s actions arbitrary and capricious.
US Crypto Regulation and Stablecoins
Garlinghouse discussed the lack of comprehensive crypto regulation in the US, contrasting it with the European Union’s MiCA regulation. He predicted that 2024 would see the passage of legislation, likely starting with clarity around stablecoins.
Ripple’s Global Position and SEC Lawsuit
Garlinghouse highlighted Ripple’s hiring outside the US due to a hostile regulatory environment. He feels optimistic about Ripple’s position despite the ongoing lawsuit with the SEC.
Ripple’s Focus and Growth in 2024
For 2024, Garlinghouse said that Ripple aims to continue investing in its core product, Ripple payments, and expand into more payout markets. Ripple also hinted at interest in other vertical markets and potential acquisitions.
Retail Investors and Crypto Market Dynamics
Garlinghouse compared the current crypto market to the early days of the internet, suggesting that short-term market movements should be viewed with a long-term perspective.
Ripple’s IPO Plans and Market Conditions
Discussing Ripple’s IPO plans, Garlinghouse stated that going public is not an immediate priority, partly due to the hostile regulatory environment in the US.
Hot Take
2024 will see significant progress in crypto regulation, ETF approvals, and Ripple’s role in different markets. Ripple remains optimistic about its financial standing and global position despite the ongoing lawsuit with the SEC.
By
By
By
By
By