Ripple CEO Brad Garlinghouse's Perspective on Dogecoin and Crypto Industry

Brad Garlinghouse, the CEO of Ripple, expressed his skepticism towards the impact of Dogecoin on the cryptocurrency market. During his address at Consensus, Garlinghouse criticized the regulatory environment in the United States, stating that there is a severe lack of clarity regarding digital assets, hindering the growth of the industry. He also highlighted the uncertainty surrounding the influx of institutional investments in the crypto space.

Garlinghouse emphasized the necessity for the crypto sector to shift its focus towards addressing tangible issues rather than speculation. He voiced his concerns about Dogecoin, suggesting that it may not have contributed positively to the industry's development. Despite clarifying that he is not against Dogecoin, Garlinghouse questioned the token's utility and the absence of significant projects aimed at providing real-world solutions on its platform. In contrast, he acknowledged the presence of practical applications and utility on various other blockchain networks.

At the time of reporting, Dogecoin was being traded at $0.159, reflecting a slight decline in value over the past 24 hours.

Ripple gained attention recently for its substantial donation of $25 million to Fairshake, a political action committee (PAC) dedicated to backing crypto-friendly candidates in elections. This contribution follows a similar $25 million donation made by the San Francisco-headquartered payments company to the super PAC last year.

Source: The Bit Times