- Garlinghouse emphasized personal challenges related “de-banking” He shared his experience of being cut off from Citibank after 25 years due to involvement in cryptocurrency.
- In citing the growing interest of institutions in cryptocurrency, he predicted that an XRP ETF would be approved.
Brad Garlinghouse of Ripple is confident that there will be a massive crypto reset after the US elections. Ripple’s Brad Garlinghouse said he is optimistic that crypto regulation will develop. This was his message at the Washington DC Fintech Week.
Garlinghouse emphasized the importance of a “reset” The article highlights the two Presidential candidates’ attitudes in the cryptosphere. Donald Trump, the former president of the United States, has taken a strong pro-crypto stance and promised to turn America into the global crypto capital. Kamala Harris, on the other hand has shown a soft side and been relatively silent about crypto issues. reported CNF.
Garlinghouse is of the opinion that any new administration could push to create more favorable regulatory structures, irrespective of their political allegiance. He said:
The next four years will be a good indicator of the future direction. We’re always going to be in a much better position. This period in American history as it pertains to crypto will look like an obstacle.
Garlinghouse told a story about his own experience in order to bring attention to the difficulties of “de-banking” He revealed that Citibank ended its 25-year banking relationship with him due to his involvement in crypto. Citibank terminated its 25-year relationship with him because of his crypto involvement. He was forced to move his money within five days after the abrupt closing, a problem that is common in crypto.
Ripple’s Garlinghouse CEO Says the XRP Exchange Traded Fund is Inevitable
The CEO of Ripple took this opportunity to forecast that the approval for the spot XRP ETF The US market is bound to be affected by this. We know that the demand for an investment product like this is growing, as Ripple’s lawsuit against the SEC is getting closer to its end.
Bitwise Asset Management Inc. filed the SEC’s first ETF filing for XRP – the seventh largest digital currency in the global market – earlier this month. Canary Capital Group filed the Canary XRP Exchange Traded Fund (ETF) shortly after. This digital assets-focused investment company was established in September.
Brad Garlinghouse noted the success that spot Bitcoin ETFs have had since their launch in January of this year. “$17 billion has flowed into the fastest growing ETF in history,” Garlinghouse said. “It clearly demonstrates that there’s demand from institutions and retail to access this asset class.”
Garlinghouse believes that the demand for crypto-ETFs represents a trend towards increased institutional participation in the cryptocurrency industry. “This drives upward pressure on the prices of various cryptocurrencies, including XRP,” He made a note.
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Source: www.crypto-news-flash.com
