Ripple CEO Reaffirms Focus on Utility Despite US ‘Permafrost’
Ripple's CEO reaffirms the hostile regulatory climate in the US, while also arguing that the industry has refocused on fundamentals.
The Point Zero Forum is taking place in Zurich, Switzerland. It’s a not-for-profit initiative organized by the Swiss State Secretariat for International Finance and Elevandi. The event is focused on promoting policy and technological dialogue in the field of financial services.
- Brad Garlinghouse, the CEO of Ripple, was attending the conference.
- He reaffirmed that throughout the last bear market, the industry has seen a refocus on building utility, as well as fundamental infrastructure.
Even if we remain in permafrost in the US, what we’ve seen over this last crypto winter is a refocus on building for utility and fundamental infrastructure. – He said.
- The US permafrost refers to the particularly hostile regulatory climate in the country, mostly instilled by the SEC’s predatory approach toward the industry.
- The Commission has filed lawsuits against Ripple, Coinbase, Binance, and many more, arguing that a lot of the industry’s cryptocurrencies are essentially securities.
