Michaela
Ripple CEO Brad Garlinghouse has stated that the company’s previous $11 billion valuation is now “outdated,” attributing the shift to a significant rise in XRP’s value and growing demand for Ripple’s blockchain solutions.
In an interview with Citizens JMP, Garlinghouse explained that firm’s updated valuation, now surpassing $100 billion, is driven not only by growing demand for the company’s blockchain solutions but also by the surge in XRP’s price. The XRP token was trading at $2.30 at the time of writing, according to data from CoinGecko.
The CEO pointed out that the company’s private market trading has been more affordable compared to its net asset value, especially when compared to other crypto-related firms like MicroStrategy.
“Ripple has been trading in the private markets at a discount while MicroStrategy has trading at 3x premium to its net asset value,” he stated. In early 2024, Ripple’s prior valuation aligned with the company’s $300 million share repurchase.
In the same interview, Brad Garlinghouse also highlighted its newly introduced stablecoin, Ripple USD, and its integration within the larger XRP ecosystem.
Related: What Are Move-to-Earn (M2E) Tokens? How Fitness Meets Crypto
“Ripple has a lot of experience with institutions, a lot of experience with payment flows to bring a product to market that is truly the most trusted. We were the first to come out with a trust license,” the CEO said.
Garlinghouse detailed that Ripple USD was created to boost liquidity on the XRP Ledger, which he believes enhances the overall XRP ecosystem. He emphasized that increased liquidity helps streamline transactions, reducing friction across the network.
Garlinghouse Slams SEC
The CEO also expressed strong criticism of the U.S. Securities and Exchange Commission (SEC), describing its regulatory methods as “abusive.” He further stated that the agency’s reliance on enforcement tactics has not been “constructive.”
Related: Bitget Doesn’t Sleep: The New $500M Shift to On-Chain Stocks
Garlinghouse suggested that the incoming administration under President-elect Donald Trump could help clarify how digital assets are treated, especially in relation to securities laws. He also expects that the responsibility for regulating cryptocurrency might eventually shift to the Commodity Futures Trading Commission (CFTC).
Read More
- Ripple Files Cross-Appeal in SEC Lawsuit
- Ripple Donates Additional $25M to Support Pro-Crypto Super PAC Fairshake
- Ripple Lawyer Slams SEC for Inventing ‘Crypto Asset Security’ Term
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
