Brad Garlinghouse says 2021 was Ripple’s strongest year, with the adoption of its ODL offering contempt the institution facing a suit from the SEC.
Ripple CEO Brad Garlinghouse says 2021 provided a watershed infinitesimal for the crypto industry. He believes developments implicit the past twelvemonth person seen crypto broadly accepted, with billions of radical getting an accidental to get into a planetary fiscal community.
Garlinghouse besides notes that the twelvemonth was Ripple's strongest ever, adjacent with the antagonistic sentiment that surrounded the institution pursuing the US Security and Exchange Commission (SEC) lawsuit.
The Ripple main executive’s comments travel arsenic the broader cryptocurrency and blockchain abstraction look to physique connected positives successful 2021 arsenic the marketplace heads into 2022.
Incidentally, it's 2021 that saw the detonation of NFTs, maturation successful DeFi, and accrued involvement successful the metaverse, arsenic good arsenic speech of Web 3. It's besides a twelvemonth wherever the US signaled it would not travel China successful cracking down connected Bitcoin mining nor prohibition cryptocurrencies.
“It’s been unthinkable to spot a batch little ‘maximalism’, and galore much builders joining the industry,” helium observed via a bid of comments shared connected Twitter. He sees this arsenic a affirmative for the full ecosystem.
Saying that the twelvemonth was Ripple’s champion ever, Garlinghouse pointed to the information that 25% of RippleNet’s dollar-denominated measurement was recorded via the XRP-based On-Demand Liquidity (ODL) feature. The web besides recorded a spike successful ODL transactions, which helium said was 25 times much compared to stats from Q3 2020. The transaction number besides grew 130% 4th implicit quarter.
Ripple besides saw important enlargement by entering caller markets for its ODL features, with caller offerings successful cardinal corridors specified arsenic Japan and UAE.
Garlinghouse is 1 of the harshest critics of the SEC and helium feels the regulator makes the US unattractive to crypto companies. He adds that portion Web 2 was a enactment of respective US companies, the aforesaid mightiness not hap with Web 3.
Here helium questioned the SEC’s attack to regulatory issues, saying it’s a farce to inactive notation to crypto arsenic the “Wild West” erstwhile astir manufacture players comply with fiscal regulators crossed the world.
According to him, what the manufacture needs is regulatory clarity and consistency from enforcement agencies, with companies not punished for demanding the aforesaid from applicable authorities.
Ignoring its anterior statements, the SEC contiguous won’t reply questions astir the ineligible presumption of ETH, overmuch little thing else. Is the bureau really surviving up to its ngo of protecting investors w/ regularisation by enforcement & what @HesterPeirce calls "strategic ambiguity"? 7/10
— Brad Garlinghouse (@bgarlinghouse) December 22, 2021
Ripple has maintained the SEC’s accusation that the company’s executives engaged successful amerciable income of a information token is an unfair classification of XRP, fixed the regulator's presumption of Ethereum’s ETH.
XRP presently trades astir $0.96, astir 18% up implicit the past week and much than 116% up implicit the past year. However, portion galore of its peers rallied to caller all-time highs successful 2021, XRP peaked astatine astir $1.96 successful April and is much than 55% down connected its ATH reached successful aboriginal 2018.