The CEO of Ripple Labs, Brad Garlinghouse, believes that the crypto industry will come out stronger after the FTX meltdown if transparency and trust remain its key focus. He stressed the importance of having “honest conversations about solving real-world problems with crypto and blockchain.”
Ripple CEO Optimistic About Crypto’s Recovery After FTX Meltdown
Brad Garlinghouse, CEO of Ripple Labs, shared his opinion on the recovery of the crypto industry after the collapse of FTX during Ripple Swell, an annual conference organized by Ripple, on Wednesday. FTX filed for Chapter 11 bankruptcy last week.
Reiterating what he said on stage at the conference, Garlinghouse tweeted:
I firmly believe that crypto will be stronger because of this if we keep focusing on transparency and trust. Ripple has and will continue to lead in this regard.
“With all that has been happening over the past few weeks (and during the ups and downs of this year), it seems even more urgent that we continue to have honest conversations about solving real-world problems with crypto and blockchain. Have gathered together for this,” he wrote in a follow-up tweet.
Garlinghouse told CNBC Wednesday that the idea that crypto is not regulated is “overstated,” adding:
Crypto has never just been sunshine and roses and as an industry, it needs to mature … Transparency builds trust.
Ripple is currently seeking a license in Ireland to drive EU expansion, Stuart Alderotti, the company’s general counsel, told the news outlet 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 align rules on crypto assets across EU countries. “I think MiCA’s 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 Alderotti and Garlinghouse expect a ruling on the matter in the first half of 2023. Final legal briefs are due by November 30, after which a judge can either pass judgment or send it to a jury trial. “We are at the beginning of the end of the process in our case,” Alderotti said.
