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Sunday, July 21, 2024

Ripple CEO Reaffirms Focus on Utility Despite US ‘Permafrost’

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The Point Zero Forum is taking place in Zurich, Switzerland. It’s a not-for-profit initiative organized by the Swiss State Secretariat for International Finance and Elevandi. The event is focused on promoting policy and technological dialogue in the field of financial services.

  • Brad Garlinghouse, the CEO of Ripple, was attending the conference.
  • He reaffirmed that throughout the last bear market, the industry has seen a refocus on building utility, as well as fundamental infrastructure.

Even if we remain in permafrost in the US, what we’ve seen over this last crypto winter is a refocus on building for utility and fundamental infrastructure. – He said.

  • The US permafrost refers to the particularly hostile regulatory climate in the country, mostly instilled by the SEC’s predatory approach toward the industry.
  • The Commission has filed lawsuits against Ripple, Coinbase, Binance, and many more, arguing that a lot of the industry’s cryptocurrencies are essentially securities.

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