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I just came across an interesting article about Ripple's plans for the cryptocurrency ecosystem. Brad Garlinghouse, the company's CEO, had big ambitions regarding investments and expansion.
In fact, Brad Garlinghouse announced a record-breaking first quarter thanks to mergers and acquisitions. The whole thing was to be financed from a huge budget — about 40 billion dollars allocated to the cryptocurrency ecosystem. Of this sum, 12.5 billion was to go toward acquiring Hidden Road, and about a billion dollars toward G Treasury.
What caught my attention more, however, were Brad Garlinghouse's comments regarding regulations in the United States. The Ripple CEO complained that progress in U.S. legislation concerning digital assets is moving slower than everyone expected. He pointed to the CLARITY Act, which was postponed from April to May.
Most importantly, there was a warning — Brad Garlinghouse emphasized that regulations should not become a political tool. This could seriously hinder innovation across the entire industry. A pragmatic voice in the discussion about the future of cryptocurrencies.
Worth following how all this ultimately develops.