Ripple CEO Brad Garlinghouse Sets Some Things Straight About The Company And XRP
Ripple and XRP have been surrounded by so many speculations that we’ve lost count.
A lot of reps from Ripple have been addresses all the confusions before, and they continue to do so.
Ripple CEO Brad Garlinghouse decided to address some of the speculations and accusations once again, especially the ones saying that Ripple holding XRP affects the digital coin’s price.
Ripple, accused of selling XRP as an unregistered security
He said that Ripple will be soon responding to an amendment in the class-action lawsuit against the company which accused it of selling XRP as an unregistered security.
“As a defendant in the class-action lawsuit, I won’t get into the details (response from Ripple is coming soon). I will say: SEC guidance isn’t issued by the Commission and isn’t law, rule or regulation. It’s clear XRP is not a security and the UK and others have said as much,” Ripple CEO said.
I'm always struck by the questionable sources (i'm being generous here) spreading FUD about #XRP and @Ripple. Even more so over the last few weeks (Ripple's XRP sales, litigation etc)…. thus, I feel compelled to comment
— Brad Garlinghouse (@bgarlinghouse) August 27, 2019
Ripple is setting a standard in transparency
He said that Ripple is setting a standard in transparency that other organizations, companies, and foundations in the space should follow.
He also cited XRP’s rate of inflation compared to Bitcoin and Ethereum.
“XRP sales are about helping expand XRP’s utility – building RippleNet & supporting other biz building w/XRP ie Dharma & Forte. Reality is we DECREASED our sales by volume Q/Q and since then the inflation rate of XRP circulating supply has been lower than that of BTC and ETH.”
regarding the feedback that Garlinghouse received, a lot of people in the crypto space are showing huge support, but there are also the haters who accuse XRP of being a security indeed.
— xʀᴘ ʏᴏᴅᴀ ®️ (@XrpYoda) August 27, 2019
We recommend that you head over to Garlinghouse’s Twitter account and check out everything that the man had to say on the subject.
Other than this, it’s been recently reported that, regarding the price of XRP, the coin is currently in the middle of a push for a new rally.
At the moment of writing this article, the whole crypto market is bloody again.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.