Ripple’s CEO, Brad Garlinghouse, has strongly criticized crypto maximalism, encouraging the industry to prioritize collaboration to achieve common objectives.
Garlinghouse has cautioned that a competitive mindset within cryptocurrency can be divisive and counterproductive. He emphasizes that the industry can thrive when participants focus on collective progress rather than rivalry. Advocating for a multichain ecosystem, he revealed that he holds various cryptocurrencies, including XRP, Bitcoin (BTC), and Ethereum (ETH). He has consistently called for a level playing field where no single token holds dominance, reinforcing his unwavering commitment to fairness and inclusivity within the digital asset landscape.
Garlinghouse’s vision of a diverse and inclusive cryptocurrency market is one of optimism and potential. He discussed the concept of a government-backed digital asset reserve, emphasizing that it should represent the entire industry rather than being restricted to a specific token, such as BTC, XRP, or others. He argued that this broader approach would better capture the diversity and potential of the cryptocurrency market.
The CEO describes maximalism as an outdated and detrimental mindset, calling it a barrier to progress within the industry. However, he expressed optimism, noting a decrease in maximalist perspectives. He envisions a future where collaboration takes precedence over competition, fostering innovation in the crypto sector. His remarks emphasized the urgent need for unity in the swiftly evolving digital asset landscape, especially as regulators and stakeholders advocate for solutions that benefit the entire ecosystem.
Meanwhile, Garlinghouse has denied Rochard’s claims that Ripple is trying to block the launch of a Strategic Bitcoin Reserve in the U.S. He stated that Ripple’s efforts support this initiative, countering Rochard’s accusations that Ripple is promoting an XRP-focused agenda while opposing Bitcoin mining. Although specific lobbying figures for the reserve were not disclosed, Ripple spent around $940,000 on lobbying activities in 2023. Additionally, U.S. crypto firms collectively contributed over $119 million in 2024 to support pro-crypto candidates in Congress.
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