In a recent exclusive interview with Fox News, Ripple CEO Brad Garlinghouse noted the rising momentum in the cryptocurrency market and called on US regulators to take a proactive stance in regulating the industry.
Garlinghouse said there is a need for regulatory clarity and expressed optimism about the potential for cryptocurrency markets to double in size by the end of 2024.
Garlinghouse began his speech by acknowledging the recent fluctuation in cryptocurrency prices, but pointed out that there has been significant growth in general, with Bitcoin increasing by approximately 250% in the last six months. He attributed this growth to factors such as the approval of cryptocurrency ETFs and the upcoming Bitcoin halving event.
Regarding the regulatory environment, Garlinghouse expressed concern that the United States is lagging behind other countries in adopting cryptocurrency innovation. He criticized the anti-crypto stance of some US politicians and regulators, specifically citing comments by Senator Elizabeth Warren calling crypto users “malicious users”.
While discussing Ripple's future plans, Garlinghouse also reiterated the company's intention to launch a US dollar-backed stablecoin later in the year. Positioning this move as a bridge between traditional finance and cryptocurrency, Garlinghouse touched on Ripple's role in providing infrastructure for global financial institutions.
*This is not investment advice.