Brad Garlinghouse, the CEO of Ripple has recently released a statement announcing that Ripple can go forward without XRP if they lose the lawsuit. Answering the possible solution that can help Ripple move ahead without XRP, Brad suggested the replacement of XRP with an alternative.
Brad Garlinghouse Says Ripple Could Move Ahead Without XRP
When asked about the possible plans in case XRP loses the lawsuit, the CEO of Ripple, Brad Garlinghouse revealed replacement of XRP can be a segment of the solution in the US. He said:
“That certainly could be part of the solution. I think there is certain strangeness that XRP has kind of picked winners here: it said that Bitcoin is not a security, it said that Ether is not a security, but really everything else, I think, is kind of at risk. Particularly, given what they have done in the lawsuit against Ripple. But, you know, we could do that.”
Garlinghouse, the blockchain company, and the Co-Founder of the firm, Chris Larsen were sued by the Securities and Exchange Commission of the United States over the unregistered sales of XRP.
However, Garlinghouse refused to publicly confirm the allegations against him accumulating $150 M from unregistered XRP sales. In his defense, he released a statement saying:
“I’m really looking forward to the facts coming out in the court case. You know this is something that I haven’t commented on publicly because the wheels of justice kind of move slowly. It’s important that we get the facts out. We heard one side of the story from the SEC.”
Moreover, the CEO of Ripple spoke on the behalf of himself and his company stating that he and his company are far more translucent than any other entity in the cryptocurrency industry.
CEO Addressing DeFi Threats
In his response to whether DeFi and stablecoins possess a threat to Ripple, the executive said that he doesn’t think that Ripple is anywhere near being threatened by these services. In addition to this, he mentioned that Ripple is an entity that is trying to solve the cross-border payment issues that are present in the industry.
Additionally, addressing the excessive use of energy by leading cryptocurrencies, he said:
“Not acknowledging that the carbon footprint is a real issue could hamper the success of the technology.”