Recently, Ripple CEO Brad Garlinghouse explained how “tribalism” is holding back the entire crypto market.
On April 14, during a fireside chat with CNBC reporter Ryan Browner at this year’s Paris Blockchain Week event, Garlinghouse talked about crypto regulation.
According to CNBC’s report, Garlinghouse argued that crypto tribalism is to blame for the weak lobbying efforts to get favorable regulation passed for digital assets. Garlinghouse, who admitted to owning $BTC, $ETH, and some other cryptoassets, noted that “all boats can rise,” rather than reducing the industry to a zero-sum outcome.
As reported by The Daily Hodl, the Ripple CEO explained:
“Yahoo could be successful and so could eBay… They’re solving different problems… There’s different use cases and different audiences and different markets. I think a lot of those parallels exist today.“
Garlinghouse blamed maximalists for creating a “fractured representation” of crypto to U.S. lawmakers, saying the various crypto tribes were stymying lobbying efforts. He called the lack of coordination on behalf of the crypto industry “shocking.”
With regard to the SEC’s lawsuit against his company (as well as personally against him and Ripple’s Executive Chairman Chris Larsen), Garlinghouse said:
“The lawsuit has gone exceedingly well, and much better than I could have hoped when it began about 15 months ago… But the wheels of justice move slowly.“
Garlinghouse also mentioned that Ripple is experiencing “record growth” despite being hampered in its institutional sales efforts in the U.S. due to how well it is doing outside the U.S.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.