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Ripple CEO and Ethereum Co-Founder Bash ICO Industry

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Ripple CEO Brad Garlinghouse and ICO Industry

Ripple CEO Brad Garlinghouse has expressed his belief that “much of what is happening in the ICO market is actually a fraud,” and here he mentions that many ICOs are facing litigation. Although concerned about the actions of many chip sellers, CEO Ripple expects that fraudulent activity to “stop” once regulators catch up with the industry.

Garlinghouse also said chip issuers are currently operating in a legal “gray area” and are expected to catch up with the industry. Ripple’s CEO suggested that futures markets could prove to be similar – because it takes time to develop a regulatory framework for futures markets.

Ripple cryptocurrency

“There are a lot of really fabulous things that get done with digital assets and blockchain technologies to reduce friction, to reduce costs, and enable things that weren’t possible before. I think instead of focusing on those, we’re distracted by what’s going on in this gray area.” – he said.

Ethereum’s Joseph Lubin Has Described China’s ICO Ban as An “Appropriate Approach”.“With China’s political approach to things, and with the fraud that was rampant there, it made a lot of sense for them to pause things a little bit and get a better, deeper understanding of the ecosystem, and scare potential fraud perpetrators,” Lubin said.

Brad Garlinghouse Ripple’s CEO Believes That Regulators Need to Catch up With the ICOs Industry

Ripple CEO Brad Garlinghouse is now richer than the Google founders

As Ripple’s XRP reached a high of $ 3.84 in 2018, co-founder and chief executive Chris Larsen are now worth about $ 59.9 billion on paper. This puts Larsen just ahead of Larry Ellison, who ranks fifth on the $ 58.4 billion Forbes 400 list, and ahead of Google founders Larry Page and Sergey Brin. tenth on the list. Larsen owns 5.19 billion XRP and a 17% stake in Ripple, according to Forbes, citing start-up sources.

Thanks to the Ripple’s surge in 2018, the co-founder and executive chairman of Ripple is now one of the five richest people in America.

Chris Larsen, co-founder and executive chairman of Ripple, has 5.19 billion of the company’s digital coin XRP and a 17 percent stake in the company, according to Forbes, citing sources at Ripple.

With XRP hitting a high of $3.84 in 2018, Larsen’s holdings are worth about $59.9 billion. That puts the former Ripple CEO just ahead of Larry Ellison, who ranked fifth on the Forbes 400 list with a worth of $58.4 billion. Facebook CEO Mark Zuckerberg ranks fourth, with a worth of $74.4 billion.

Google founders Larry Page and Sergey Brin rank eighth and 10th on the list, respectively.

A representative for Ripple said the company had nothing to add.

 

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