Categories: Ripple

Ripple CEO Brad Garlinghouse Argued Why Ripple (XRP) Is Not A Security

Click here to view original web page at oracletimes.com

During the CB Insights Future Of FinTech conference, Ripple CEO Brad Garlinghouse said that Ripple (XRP) is not a security.

To back up his statement, Brad Garlinghouse came up with three arguments.

Ripple (XRP) is not a security, according to Ripple CEO

Garlinghouse’s first argument regards XRP Ledger. The CEO of Ripple company said that the XRP Ledger will keep on going even if the Ripple ends its business because it is a decentralized, open-source technology.

“Its open-source, decentralized technology that exists independent of Ripple,” said Mr. Garlinghouse.

He also stated that Ripple (XRP) is a utility used by Ripple and some of its platforms to conduct secure and almost instantaneous cross-border payments. Therefore, as securities are not utilities by definition, Ripple CEO thinks that it is impossible to consider the XRP a security.

“If you buy XRP, you are not buying shares of Ripple. We are a private company, we have investors. Ripple (XRP) does not give you access to dividends or profits that come from Ripple,” said Brad Garlinghouse, arguing why XRP cannot be seen as security.

Brad Garlinghouse also addressed XRP ownership, Coinbase XRP listing, and cryptocurrencies market issues

When asked during the CB Insights Future Of FinTech about XRP ownership, of which is already known the Ripple company owns 60% of all the XRP tokens, Brad Garlinghouse argued that Ripple’s XRP ownership is not putting the company in a control position over the XRP since this is a decentralized, open-source technology.

On the other hand, Coinbase cryptocurrency exchange hasn’t added Ripple (XRP) yet, but that seems not to bother Brad, Ripple CEO. According to him, Coinbase and other similar platforms decide what’s the best for them, but, on the other hand, Ripple is not targeting individual traders but financial institutions, so they’re okay with not being listed on Coinbase.

Ripple CEO also talked about cryptocurrencies market, and he said that this market lacks pragmatism and there are “holy wars where it’s more about ideologies.”

To back up his statement, Brad Garlinghouse came up with […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin’s Bulls Now Have a Target of $13.2K, Monthly Chart Suggests

View Bitcoin charted an "inside bar" pattern last month, making $13,200 the level to beat for the bulls. A convincing… Read More

6 hours ago

Japan to Solarize Its Burgeoning Digital Economy, Expert Take

Society is now witnessing the implementation of digital currencies, artificial intelligence (AI) and blockchain technology worldwide. These new digital technologies… Read More

6 hours ago

Mass Media’s Phony Freakout Over Bernie’s WaPo Criticism Is Backfiring

Authored by Caitlin Johnstone, After days of ridiculous, hysterical garment rending by mass media talking heads in response to Senator… Read More

12 hours ago

Quadriga CX Dukes It Out with “Failing” Auditing Firms

Quadriga CX , the crypto exchange in Canada that lost all access to customers’ funds when its founder passed away… Read More

12 hours ago

The Bearish Trends That Continue to Strike Bitcoin

At press time, bitcoin – the granddaddy of all crypto – is once again down for the count. Bitcoin Is,… Read More

12 hours ago

Will Growing Interest from China Propel Bitcoin’s Price Higher?

Bitcoin (BTC) has incurred a significant amount of volatility as of late which was perpetuated yesterday by news regarding the… Read More

12 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More