The CEO of Ripple, Brad Garlinghouse, recently sat down for an Ask Me Anything (AMA) session along with Ripple’s Senior VP of Marketing, Monica Long. The AMA discussion took place yesterday on the 18th.
In the AMA session, Long asks Brad Garlinghouse whether XRP is a security or not. Long also acknowledges that this has been a question that the Ripple CEO has been asked on several occasions.
This question is also always asked by the Ripple community online, so let’s see what Brad had to say about that:
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…
From Brad’s statement, we could clearly acknowledge that XRP is not a security and that Brad believes that nothing will stop people from trading XRP even if Ripple the company itself shuts down.
This actually isn’t uncommon with traders. A lot of projects ends up being listed on exchanges after an ICO, but even without any updates from the company itself, the coins continue to trade.
In the AMA session, Brad also stated that his 2018 prediction of Institutional Investors getting into crypto investing will have to be pushed 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 an 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.
Brad on the SEC decision
Brad also shared his insights and thoughts on the SEC situation.
Due to the sensitivity of an ETF, the CEO of Ripple acknowledged that the SEC in the United States has a hard job with regards to the matter. The regulatory body has so far hinted that their major concerns are risks associated with the manipulation of a Bitcoin backed ETF.
Brad also added that 2018 has not helped with the task given to the SEC in that we saw more concentration of BTC mining power. Such centralized power increases the risks of manipulation.