Maximalism, according to Ripple CEO Brad Garlinghouse, is a big roadblock for the crypto sector. According to the 51-year-old executive, unhealthy polarisation would hurt the bitcoin market’s growth.
Garlinghouse, who owns Bitcoin and Ethereum, believes that several cryptocurrencies may prosper, which is why tribalism has no place in the cryptocurrency world. According to the former Yahoo executive, who also directed product teams at AOL, many companies were able to prosper simultaneously during the dot-com frenzy in the late 1990s because they were focused on various problems.
On the regulatory front in Washington, DC, the CEO is particularly concerned about a lack of collaboration among bitcoin sector executives. This lack of cooperation, according to Garlinghouse, is “shocking.”
Ripple came under fire from the cryptocurrency community after being sued by the US Securities and Exchange Commission in late 2020 for targeting Bitcoin and Ethereum in its Wells notice, accusing the SEC of picking “winners and losers.” Members of the XRP community, on the other hand, believe that by purportedly giving clarification on the top two cryptocurrencies, the SEC has created an unequal playing field for smaller projects.
According to the Ripple CEO in December, the decline of maximalism was a good thing for the business. Despite his opposition to tribalism, Garlinghouse has already spoken out against cryptocurrency schemes with no benefit. Ripple’s CEO projected that 99 percent of cryptocurrencies would someday be worthless. He claimed that the majority of crypto ventures lacked substance.
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