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Ripple CEO Incredibly Bullish on Company's Trajectory Despite Crypto Winter

Wed, 05/17/2023 - 15:36
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Tomiwabold Olajide
Ripple just announced its plans to take on crypto custody market
Ripple CEO Incredibly Bullish on Company's Trajectory Despite Crypto Winter
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Ripple CEO Brad Garlinghouse says he is incredibly bullish about the company's trajectory as the crypto industry emerges from its coldest winter yet.

He emphasizes the company's daily vision, which includes focusing on the long-term potential of cryptocurrency utility and teaming up with like-minded individuals.

Garlinghouse tweeted, "Coming out of one of the coldest crypto winters yet, I’m incredibly bullish about Ripple’s trajectory. Every day we’re thinking about the long-term opportunity of crypto utility, putting our money/minds behind that mission, and partnering with folks who share that vision."

The Ripple CEO was responding to the news of the business's most recent acquisition, which he describes as massive. Ripple just announced its plans to take on the crypto custody market with the acquisition of Metaco, a Swiss-based provider of digital asset custody and tokenization technology.

With the acquisition, Ripple will broaden its range of business solutions by providing customers with the technology to custody, issue and settle any type of tokenized asset.

Another win for transparency in Ripple-SEC lawsuit

The excitement over Ripple's latest acquisition builds on the company's most recent win on transparency in the SEC litigation.

As reported, District Judge Analisa Torres has ruled that the documents tied to the 2018 speech — in which former SEC Director of Corporation Finance William Hinman stated that, in his view, Ethereum was not a security — cannot be sealed in a court order.

In January 2022, Magistrate Sarah Netburn made the initial decision that such documents were to be provided to Ripple as part of the ongoing discovery process.

XRP Suddenly Spikes 10% on Fresh Speculation on Ripple-SEC Settlement

The news was received with excitement by the XRP community, and as a result, XRP increased by almost 7%.

"Overall, I think the decision bodes well for Ripple on the summary judgment motions," crypto lawyer Bill Morgan stated in a recent tweet.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.