Digital currencies are increasingly becoming popular and more entities and individuals are beginning to associate themselves with the crypto space. The concerns about the digital currency space have also taken a different dimension. Recently, the President of the United States of America – Donald Trump – came out bearish on Bitcoin (BTC), Facebook’s Libra coin, and then entire crypto space. President Trump got a lot of criticisms for his tweet and this also raised the profile of the digital currency market.
Brad Garlinghouse Agrees with President Trump’s Rant about Cryptocurrencies – Cryptocurrency Market Update
Shockingly, while President Trump was being criticized for his tweet, the CEO of Ripple seems to agree with the President on this one. Brad Garlinghouse – the CEO of Ripple – came to the limelight after he agreed with the Treasury Secretary – Secretary Mnuchin – who was talking about the potential risks that the forthcoming digital currency of Facebook – Libra Coin – could pose in the future.
Garlinghouse was recently in an interview with Fox Business. During the interview, the CEO said that he agreed with the rant of President Trump on Twitter regarding Facebook’s Libra Coin and Bitcoin (BTC). Brad Garlinghouse further added that:
“I actually very much agree with what the Secretary said. I agree with what Donald Trump tweeted last week regarding these points. It is very important that we think about these new technologies, really like any new technologies that they are thinking about regulatory frameworks. I do think that some of the digital currency world has taken an approach of, how do we circumvent governments, how do we circumvent regulations? But I think that it is also clear that we should not paint this as one broad brush.”
Garlinghouse Believes Fresh Technologies Can Be Abused in Several Ways
The CEO of Ripple further added that fresh technologies can be abused in several ways. Hence, they should be carefully scrutinized before making them available to the public. Garlinghouse also used this opportunity to talk about the role of Ripple. While doing so, the CEO said that Ripple was engaged in allowing regulated institutions and financial institutions such as banks to become more efficient by collaborating and partnering with them. In a statement, he said:
“We partner with some of the largest banks across the globe to help them carry out cross-border payments more easily.”
Ripple has collaborated and partnered with a lot of banks and financial institutions across the globe. A lot of banks and financial institutions are now using the products of Ripple such as xCurrent, xVia, RippleNet, and xRapid. xRapid is the latest on the list of Ripple’s products. xRapid is an international payment solution that use XRP (XRP) – the native currency on the Ripple network – to process transactions.
Ripple aims to boost the adoption and use cases of XRP. The firm has been working toward the global adoption of the coin over the past years. However, the efforts of the firm have not really priced in on the digital currency, but it will definitely have an impact on the price of XRP in the future.
XRP (XRP) Price Today – XRP / USD
At the press time, XRP USD live price is 33 cents after an increase of about one percent over the past twenty-four hours. The current market cap of the digital currency is $14.16 billion. The trading volume of XRP over the past day is $1.16 billion.