Ripple CEO Says Current Crisis Will Make Crypto Stronger, Announces Huge Updates

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Brad Garlinghouse. Source: A video screenshot, Ripple / Youtube

while FTX’s sudden fall down As uncertainty continues to fuel the world’s crypto investors, some industry representatives believe the cryptosphere could emerge stronger from the turmoil. This is according to Brad Garlinghouse, CEO of the American blockchain company ripple labsWho has also announced major updates.

“As I said on stage – I firmly believe that crypto will be stronger if we focus on transparency and trust. Ripple has and will continue to lead in this regard,” Garlinghouse said in a statement. said in TweetReferring to his remarks at this year’s edition of the annual Ripple Swell conference.

The executive also used the opportunity to share some of the company’s latest achievements from Ripple’s growth strategy.

“We have processed $30B in payments on RippleNet (both fiat and crypto),” Garlinghouse said.

Earlier this week, Ripple announced On-Demand Liquidity (ODL) customer momentum in several new locations including Africa, Argentina, Belgium and Israel, as well as current fiat-based RippleNet customers upgrading to ODL in Australia, Brazil, Singapore, UAE, UK and US. ,

The firm said, “The company continues to improve its liquidity management solution by adding advanced machine learning capabilities to the product, which uses XRP for instant settlement of payments, allowing customers to meet their liquidity needs on demand.” meets.”

The CEO’s tweet has prompted a number of positive reactions from users, some of whom have stressed the need for responsible and transparent behavior by executives of major crypto businesses.

“This is the only way to do good business and there is such a huge influx of business opportunities! Keep up the good work, and be an example to the crypto space of how a CEO should conduct themselves!” Tweeted User Tubby Captain.

Meanwhile, in another installment of Ripple’s legal woes with the US securities regulator, earlier this month, the Securities and Exchange Commission (SEC) requested That the time limit for filing all brief replies in support of the Company be extended up to 30th November, 2022. The SEC has also asked that any additional amicus briefs be submitted by November 11.

XRP users may have to wait until the first quarter of 2023 for the lawsuit to be resolved, as Judge Torres granted the regulator’s request to extend the deadline for all parties to file reply briefs.

Company’s legal trouble with SEC Ripple’s expansion plans have been overshadowed for a long time. The US regulator’s case against the firm focuses on allegations that its token is an unregistered security. The agency is also trying to impeach its officers, as demonstrated by the SEC. Attempt To secure the personal financial records of Garlinghouse and Ripple Executive Chairman Chris Larsen.

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