- During the annual Ripple Swell conference, Ripple CEO Brad Garlinghouse stated that he strongly believes that the current crisis in the crypto ecosystem will make cryptocurrencies stronger if firms focus on transparency and trust.
- Garlinghouse highlighted “transparency” as one of the key points for the growth of the crypto world and he is precisely in a battle to “whiten” his image
The typical phrase that “Rome was not built in a day” perfectly applies to the current scenario that cryptocurrencies are going through. The collapse of FTX exacerbated the crisis that the ecosystem is experiencing and there is fear that the bottom of all this has not yet been found. While some assets are trying to recover in a climate of fear, others are taking an optimistic view of the future.
one of these is Brad Garlinghouse, CEO from the American blockchain company Ripple Labs, who while showing a positive face for the next and announced that the company will not slow down its works and will carry out major upgrades.
“I strongly believe that cryptocurrencies will be stronger because of this if we continue to focus on transparency and trust. Ripple has led and will continue to lead in this regard“, published Garlinghouse in a tweet and with this he reaffirmed what he had already expressed at the annual Ripple Swell conference, which took place in London on November 16 and 17.
Ripple announces new projects
Previously Ripple had announced “the promotion of liquidity on demand (ODL) clients)” in places where it had not been presented, such as Africa, Argentina, Belgium and Israel. In turn there will also be updates in “Australia, Brazil, Singapore, the United Arab Emirates, the United Kingdom and the United States”, as highlighted CryptoNews.
“The company continues to improve liquidity management solutions by adding advanced Machine Learning capabilities to the product, which uses XRP for instant settlement of payments, enabling it to meet clients’ on-demand liquidity needs at the optimal cost.“, they explained from the pioneering company in this ecosystem.
as explainedGarlinghouse highlighted the “transparency” as one of the key points for the growth of the crypto world and precisely he is in a battle for “whiten” your image And it is that for years, more precisely since December 2020, Ripple has been facing the United States Securities and Exchange Commission (SEC).
Ripple and its conflict with the SEC
In early November, the SEC requested a new deadline to file responses in support of the company and these were extended to November 30, 2022.. This was approved by judge Analisa Torres, so the lawsuit could only be resolved in the first quarter of 2023
The case is based on the accusation that the XRP token is an unregistered security and that it was sold “illegally”. The company insists on the fact that it should not be considered in such a way.
This has undoubtedly slowed Ripple’s attempts to grow and expand its blockchain, which some time ago was one of the most used due to its very low commissions. So far $30 billion in payments have been processed on RippleNet, both in fiat and cryptocurrency.
Beyond the positivity of the CEO of Ripple Labs, the token has responded in a “good way” to the current crisis in the ecosystem. As the ranking of CoinMarketCap, XRP rose 2% in the last week to settle at $0.38 and is the second fastest growing in the top 10.
The ATH of the token occurred on January 4, 2018 when it reached $3.84. Its maximum price during the last year was 1.10.
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