{"id":79038,"date":"2023-05-19T18:00:58","date_gmt":"2023-05-19T15:00:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79038"},"modified":"2025-09-11T08:41:32","modified_gmt":"2025-09-11T05:41:32","slug":"brad-garlinghouse-predicts-exodus-of-crypto-firms-from-the-united-states","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/brad-garlinghouse-predicts-exodus-of-crypto-firms-from-the-united-states\/","title":{"rendered":"Brad Garlinghouse predicts exodus of crypto firms from the United States"},"content":{"rendered":"<p>Many crypto firms could move from the United States to more progressive jurisdictions if local regulators continue the unfounded pursuit. Ripple CEO Brad Garlinghouse said this in an interview with <a href=\\\"https:\/\/www.cnbc.com\/2023\/05\/18\/ripple-ceo-says-more-crypto-firms-may-leave-us-due-to-confusing-rules.html\\\">CNBC<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>In his view, Europe, the UAE, the United Kingdom and Singapore offer more clarity in the regulatory framework for digital assets.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Frankly, that is why you are seeing entrepreneurs and investment flowing to other jurisdictions. And Europe has benefited significantly from the confusion in the United States,&#8221; he added.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>Garlinghouse noted that at the head of this muddle is the U.S. Securities and Exchange Commission (SEC).<\/p>\n<p>\\n\\n<\/p>\n<p>In response to <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the bankruptcy of FTX<\/a>, Ripple&#8217;s CEO said that what happened with the company was fraud and has nothing to do with cryptocurrency. He believes this situation has been a catalyst for the exodus of companies from the United States.<\/p>\n<p>\\n\\n<\/p>\n<p>According to Garlinghouse, Ripple is in good financial shape. Previously, the company <a href=\"https:\/\/forklog.com\/en\/news\/ripple-agrees-to-acquire-crypto-custodian-metaco-for-250-million\">acquired the crypto custodian Metaco for $250 million<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Ripple has a very strong balance sheet, and we are playing offense. &#8230; Be greedy when others are fearful, and fearful when others are greedy,&#8221; said the CEO, citing billionaire Warren Buffett.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>Regarding plans to list on the stock market, Garlinghouse noted that the firm is not in a rush, but it does not need to raise additional capital.<\/p>\n<p>\\n\\n<\/p>\n<p>In December 2020 the <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\">SEC filed a lawsuit against Ripple<\/a>, accusing the company of selling unregistered securities. Garlinghouse <a href=\"https:\/\/forklog.com\/en\/news\/ripples-legal-battle-with-the-sec-costs-200m\">estimated the firm&#8217;s legal costs<\/a> for the ongoing regulatory proceedings at $200 million.<\/p>\n<p>\\n\\n<\/p>\n<p>In late March 2023 there were reports that Ripple had a good chance of positively resolving the litigation.<\/p>\n<p>\\n\\n<\/p>\n<p>In April, attorney Jeremy Hogan <a href=\"https:\/\/forklog.com\/en\/news\/lawyer-says-secs-arguments-in-ripple-case-are-weak\">stated<\/a> that XRP is not a security and only &#8220;might fit the definition of an investment contract&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many crypto firms could move from the United States to more progressive jurisdictions if local regulators continue the unfounded pursuit, Ripple CEO Brad Garlinghouse said.<\/p>\n","protected":false},"author":1,"featured_media":79039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1274,36,112],"class_list":["post-79038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brad-garlinghouse","tag-regulation","tag-ripple"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79038"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79038\/revisions"}],"predecessor-version":[{"id":79040,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79038\/revisions\/79040"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79039"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}