Brad Garlinghouse, the CEO of Ripple, stated in an interview that Ripple is unique in its kind, and it will keep flourishing even if XRP needed to be replaced with alternatives as Ripple is a real-time growing settlement system. Last year, the Securities and Exchange Commission (SEC) of the United States (U.S) sued XRP as they stated that Ripple Labs had violated the federal securities law by conducting the sale of unregistered securities to the clients. In response, the CEO of Ripple said in an interview with Julia Chatterley CNN that if the issue keeps lingering on, then dropping out XRP and replacing it with alternatives would be the certain and reliable solution as Ripple’s reputation is of prime importance as it would be considered as contingency plans.
Standards of transparency
Securities and Exchange Commission (SEC) of United States sued Chief Executive Officer (CEO) Brad Garlinghouse, Chris Larsen (the Co-founder of the company), and blockchain payments company for selling unregistered XRP. Brad Garlingouse disavowed such allegations publically about rolling out $150 million via XRP sales.
Moreover, he said that he is waiting for official words which will come out from the court as those shall be valid and facts-based. According to the CEO, he hasn’t declared a pessimistic opinion regarding such a case as till now Securities and Exchange Commission (SEC) has listened to the one-sided statement, and another side of the coin is yet to be coined, which will determine the next step to be taken.
In addition, he insisted that in the crypto industry, Ripple is more transparent, legist, and crystal-clear than the others out there in the market. It encourages several other customers to attain higher standards.
DeFi isn’t a threat to Ripple
Brad Garlinghouse is of the view that Decentralized Finance (DeFi) and stablecoins are not a threat to Ripple as it is solving the payment problems across the borders. It was reported that Ripple has already induced another variant of the XRP ledger intended for several central banks.
Moreover, Brad also believes that Bitcoin (BTC) will stay in the market as it isn’t going anywhere, which implements in the whole crypto industry across the world. He also recapitulated his concerns regarding the forerunning excessive energy utilization of the cryptocurrency, whereas in addition, XRP is showing 100,000 times better efficiency rate based on per transaction trends.