When asked about the Tether stablecoin in a recent interview with Fox Business, Ripple CEO Brad Garlinghouse remarked that the entire sector needed to be more open.
“From the earlier days, Ripple and the XRP community, we tried to lead by example.”
“We really tried to be the adults in the crypto room,”
So, Garlinghouse confirms
According to the executive, he went to the World Economic Forum in Davos, Switzerland, to market Ripple’s technology to financial ministers and CEOs from around the world. card
When asked about the current cryptocurrency market drop, Garlinghouse stated that Bitcoin is still trading at a higher price than it was two years ago.
In the market, the Ripple CEO says, “excitement got ahead of reality.”
Stablecoins, he argues, were the primary bearish driver for recent market volatility.
Terra’s UST stablecoin lost its peg in early May, causing the UST governance token to drop to around zero.
The failure of Terra has underlined the necessity for crypto regulation once again. According to Garlinghouse’s most recent interview, countries including the United Kingdom, Switzerland. Then, and Singapore have already built a regulatory framework for cryptocurrencies.
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