Ripple’s Four Boss Truths – In Swissin the canton of Graubünden, a meeting is held every year that has fueled many legends and multiple controversies since the mid-1990s: the World Economic Forum. This annual meeting brings together Davos the elite of politics, finance, industry and influential personalities from around the world around one main theme: how to improve the state of the world. Of course, everyone knows that it is above all a important lobbying meeting and “the place to be” to do business. This year, Brad Garlinghousewas there and the press took the opportunity to ask him about the state of the industry post FTX as well as on the file which opposes his company to the DRY. Selected pieces.
Live from Davos, confidences of a crypto boss on the state of the sector
If one had to sum up his speech, the key words would be optimism, enthusiasm and confidence in the future. Brad Garlinghouse came across as very positive during his live appearance on CNBC, moving from one subject to another without taboo, with a lot of confidence. Even the most delicate subjects are an opportunity for him to be positive. The bankruptcy of FTX ? The perfect time to clean up the industry and clean up the dishonest actors. But still, the actions of Sam Bankman-Fried greatly harm crypto as a whole? Well no ! Because it is above all a fraud and it has nothing to do with cryptocurrency.
But what to say to observers who hesitate to invest in cryptocurrency because of falling prices? Is that quite reasonable? Ripple CEO replies tit for tat that Tesla and Facebook shares have taken a similar dip and no one is questioning the NASDAQ investment. Another good response from Brad Garlinghouse, decidedly well prepared, with answers to all the doubts of the journalists. But what about his business with the Securities and Exchange Commission ? There, the tone changes and we become a little more serious.
>> Do you want to trade Bitcoin and cryptocurrencies without breaking the bank? AscendEX opens its arms to you (commercial link) <<
The standoff between Ripple and the SEC could end in the first half of 2023
First of all, it must be understood that theXRP case goes far beyond the sole framework of society Ripple. If XRP becomes a financial asset in the eyes of the SEC, this will have implications for the industry as a whole. Here is the preamble about it, a way of involving all the actors in its fight. Regarding outcome of the dispute between him and the regulator, he made the following statement:
“We are expecting a decision from a judge, certainly in 2023. We don’t really have control over when a judge makes his decisions. But I am optimistic that within the next few months the file will be closed. A single digit number of months in my opinion. »
His optimism today echoes that displayed at the start of the year when he was already claiming that the case would be finished before the summer. That said, it must be recognized that as things currently stand, both parties have spoken and the judge has all the information in his possession. But after the usual diplomacy, the CEO will still show a little more offensive to the services of the SEC. He claims to have asked to meet the regulator, but that no one responded to his multiple requests. Before finally being sued. where the behavior of the DRY would even sometimes have been ” embarrassing as a US citizen “.
It will end on a mixed note. On the one hand, Gary Genslerthe boss of the SEC, thinks that all cryptos are technically Financial assets. But on the other hand, such a decision would pull the rug out from under a infant industry and would be likely to nip her in the bud. This while other countries such as the United Arab Emirates, Japan, Singapore, Switzerland or the United Kingdom are taking more favorable decisions. Will all this influence the positions of the American regulator? Brad Garlinghouse firmly believes in it and his optimism is infectious. Autosuggestion to reassure oneself or speech of truth? The answer in a few months.
Bitcoin and cryptocurrencies are here to stay and will change the landscape of the economy, everyone agrees. On your side, do not delay too much and go sign up on AscendEX. Take advantage of 10% reduction on trading fees (commercial link, see conditions on site).