The entire crypto industry needs more transparency, Ripple CEO Brad Garlinghouse whispers in an interview. In a context of turbulence in the cryptocurrency market, this does indeed present itself as an emergency.
Garlinghouse advocates transparency
Recently interviewed by Fox Business, Brad Garlinghouse covered the issue of cryptocurrency regulation. Then, he addressed the temporary crisis that the market is experiencing. Regarding the case of stablecoin Tether, he spoke about the impending need for transparency in the crypto industry.
And he spoke knowingly given the performance that his company is trying to display.
” From the early days, Ripple and the XRP community, we tried to lead by example. We really tried to be the adults in the crypto room “, he remarked.
Thanks to an accumulation of experiences as ” adult », the CEO of Ripple made the trip to Davos to be part of a panel dealing with the issue of cryptocurrency regulation. On occasion, he championed transparency and clarity regarding this initiative.
It should also be noted that this presence at the WEF was also an opportunity for Garlinghouse to present Ripple’s technology to the world. Or more precisely to the finance ministers and CEOs of the world.
Bitcoin (BTC) is not that bad
Along with the call for crypto regulatory transparency, Garlinghouse also addressed the current market correction. For him, bitcoin is trading even higher than two years ago.
In fact, the excitement has got ahead of reality ” on the market. He also believes that the downward trend of the present time would be the consequence of the situations of the stablecoins.
The case of the UST can illustrate this point. On May 9, this stablecoin of Terra lost his peg to the dollar. And you know the rest, the UST governance token was almost reduced to nothing, to be valued at 0.06 dollars per coin.
Everything changed after the collapse of Terra, but nothing is lost forever. It was recently reported that the hard fork of the blockchain inherited the endorsement of the Terra community. Nevertheless, to limit the reproduction of such a situation, Brad Garlinghouse swears only by transparency and regulation. Did he not recently recall that the United Kingdom, Singapore and Switzerland have already established a regulatory framework for cryptocurrencies on their territory?
Source : U Today
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