During a recent conversation With “World Class” host Chris Vasquez, Ripple CEO Brad Garlinghouse issued an important warning about Tether, the largest stablecoin issuer.
During a recent conversation With “World Class” host Chris Vasquez, Ripple CEO Brad Garlinghouse issued an important warning about Tether, the largest stablecoin issuer.
“The US government is going after Tether. That’s clear to me,” he stressed.
“I see Tether as a very important part of the ecosystem,” said the Ripple CEO. It is difficult for him to predict the exact impact it will have on the ecosystem.
Tether’s flagship USDT stablecoin is currently valued at $111 billion, according to data from CoinGecko.
Being CEO of Ripple is “lonely”
During the conversation, the Ripple CEO recalled that he was exposed to Bitcoin around 2012. However, he was skeptical of the idea that the cryptocurrency could replace banks. That’s why Ripple’s approach, which sought to combine traditional finance with cryptocurrencies, made more sense to him.
Garlinghouse revealed that he had the opportunity to work at ride-sharing giant Uber, but realized that this was not going to change his life significantly. At that time, he was willing to take risks. While communicating with Ripple co-founder Chris Larsen, Garlinghouse became intrigued by the “bold” concept of the Internet of Value, as well as the potential use cases for the XRP token.
At the same time, Garlinghouse, who was promoted to CEO of Ripple in 2016, admits that he feels “alone” leading the company, since he does not have peers like he had at Yahoo.
“I burst into tears”
Garlinghouse admitted that being sued by the US Securities and Exchange Commission marked “a pretty dark time” for Ripple.
He highlighted that Ripple employees felt “part of the mission” as the company was transparent about the development of the legal battle. “It brought us together,” she added.
Meanwhile, July 13, 2023, the day Ripple won a partial victory against the SEC, marked the high for the company, according to Garlinghouse. “I burst into tears,” he confessed during the conversation.
Cryptocurrencies are not going away
Garlinghouse is convinced that the SEC will fail to limit the crypto industry. The current regulatory pressure will simply be seen as a bump in the road for the cryptocurrency market.
Ripple boss says he can’t trade cryptocurrencies because he finds it difficult to predict specific timeframes.
Speaking of “black swan” events that could affect the industry, Garlinghouse does not see quantum computing as a potential threat to cryptocurrencies.
