Ripple CEO Brad Garlinghouse addressed the effects of the ongoing crypto winter during the Point Zero Forum held in Zurich, Switzerland.
Ripple CEO Suggests Focusing on Utility Amid Crypto Winter
The veteran technology executive highlighted a new focus on making cryptocurrencies more useful and strengthening their underlying systems.
He evaluated the state of market conditions and regulatory hurdles in the US, using the term “permafrost” to underline the severity of the industry's predicament.
Underneath this cold surface, Garlinghouse's words conveyed a sense of optimism about the future of cryptocurrency. Like a determined architect, he stressed the importance of focusing on building rock-solid infrastructures.
Even if we remain in permafrost in the US (as @sheila_warren aptly coined on stage) — what we've seen over this last crypto winter is a refocus on building for utility and fundamental infrastructure. Always happy to be back at #PointZeroForum! pic.twitter.com/QfIvHPva5a
— Brad Garlinghouse (@bgarlinghouse) June 27, 2023
The Point Zero Forum is an important roundtable meeting that brings together central banks, regulators, and leading figures from the tech world.
This year's forum hosted a list of key speakers, including Singapore Deputy Prime Minister Heng Swee Keat, Adrienne A. Harris of the New York Department of Financial Services, and Professor Thomas J. Jordan, Chairman of the Swiss National Bank.
The current crypto winter has resulted in a sharp drop in the prices of many digital currencies, including Ripple (XRP).
But leaders like Brad Garlinghouse see this as an opportunity to focus on the core elements of their technology and deliver long-term benefit.
*Not investment advice.
