Ripple New: Brad Garlinghouse, the CEO of Ripple and the company’s Senior VP of Marketing, Monica Long sat down for a Ask Me Anything (AMA) session on Tuesday the 18th of December at 2:30 pm (PT). The CEO some interesting insight about the network and its token XRP.
In the AMA session, Ms. Long asks Garlinghouse a million dollar question, whether XRP is a security or not. Responding to the question Garlinghouse states:
I think it is very clear XRP is not a security. There is a whole bunch of base layer reasons for that. One of the most important I think is…if Ripple the company shuts down…XRP trades on over a hundred exchanges around the world and XRP will continue to trade.
Ripple is one important participant in the XRP ecosystem…but there are a whole bunch of participants…
About The Institutional Investors
Garlinghouse took the opportunity to shift his prediction that Institutional Investors will jump on to the crypto wagon in 2018, to 2019.
One prediction I made that I think I got wrong…I really thought 2018 was going to be a year where you saw increasing participation in the digital asset markets from institutional investors
. I think we haven’t really seen that. To the extent we have…it has been in very very small amounts. And I think it is largely because the industry hasn’t quite matured to the point where they can participate.
So I’m going to push that prediction off to 2019 as we look forward to next year.
The CEO also discussed the impending decision of the U.S SEC over the Bitcoin ETF. He acknowledges that SEC has had a hard job given the sensitivity of an ETF.
He noted that the concerns pointed out by the agency is quite valid. Furthermore, the concentration of the BTC mining power in 2018 has escalated their concerns. Such centralized power increases the risks of manipulation.
Check out the full AMA Session video here :