- The CEO also announced Ripple’s plans for U.S. dollar-backed stablecoin.
- Concerns were raised over the anti-crypto stance of U.S. regulators hindering market growth.
- Brad Garlinghouse predicts the crypto market to double by 2024 citing ETFs and Bitcoin halving.
Ripple CEO Brad Garlinghouse provided valuable insights into the cryptocurrency market in an interview with Fox on 18th April. Garlinghouse offered an optimistic outlook and said that the market will double by the end of 2024 after the recent dip in the crypto market. The CEO highlighted key factors driving the market and the urgent need for regulatory clarity.
Garlinghouse acknowledged the significant ups and downs in crypto prices over the last week. Additionally, noting a recent dip, he asked the investors to put emphasis on the long-term bull run. He later added that this trend comes due to several factors including the approval of Exchange-Traded Funds (ETFs) and the upcoming Bitcoin halving.
However, after talking about the growth potential of the market, Garlinghouse made a cautionary note about the lack of regulatory clarity in the United States. He expressed concern over what he described as an “anti-crypto” stance from U.S. regulators. Adding to that, he said that there is a lack of understanding among policymakers regarding the pros and cons presented by cryptocurrencies.
The CEO gave examples of other countries such as Dubai and Singapore that have adopted crypto in a more constructive and better manner. These countries have regulatory frameworks to increase the adoption of the Web3 sector.
Despite regulatory challenges in the U.S., Garlinghouse remains bullish on Ripple’s prospects, particularly in non-U.S. markets. Over 95% of Ripple’s customers are located outside the U.S. and the company continues to expand its offerings by now providing payment and custody solutions to financial institutions worldwide.
Garlinghouse also spoke on Ripple’s plans to launch a U.S. dollar-backed stablecoin later this year. Positioned as a bridge between traditional finance and cryptocurrency, the stablecoin aims to meet the growing demand for stable assets while putting regulatory compliance ahead in the stablecoin market’s evolution.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
