Ripple CEO Denies Shift From XRP, No Buyback Planned

Speaking at an XRP community event in Las Vegas, Ripple CEO Brad Garlinghouse addressed several key issues, including the company’s commitment to XRP, US regulatory developments, and the anticipated Clarity Act. He firmly rejected claims that Ripple is distancing itself from XRP, stating that the company remains the world’s largest holder of the token and wants it to succeed more than anyone else.

Stablecoin and Ecosystem Growth

Responding to concerns that Ripple’s new stablecoin project, RLUSD, might replace XRP, Garlinghouse clarified that the company’s strategy has always focused on increasing XRP’s liquidity, use case, and trust. He said the stablecoin will serve as a bridge for institutional clients and ultimately help grow the entire ecosystem, not replace XRP.

Regulatory Outlook and Legal Clarity

On US crypto regulations, Garlinghouse highlighted the third week of May as a crucial period for the Clarity Act’s fate. He expressed optimism about the bill passing if it emerges from the Senate Banking Committee but warned that delays could stall progress. However, he reminded everyone that XRP already has legal clarity, as a federal judge explicitly ruled that XRP is not a security on its own. That clarity is what matters most, he emphasized.

IPO Plans and Political Support

Regarding Ripple’s share buybacks at a $50 billion valuation, Garlinghouse said the company is in no hurry to go public. He noted difficulties faced by firms like Gemini and Kraken in their IPO processes and argued that remaining private gives Ripple more flexibility and freedom of expression. He described the politicization of cryptocurrency as “madness” and announced that Ripple will continue supporting “pro-innovation” candidates from both parties, following its $50 million donation to super PACs like Fairshake.

Interesting Details and Community Questions

In a lighter moment, Garlinghouse explained that Ripple wanted to advertise XRP on Las Vegas’s famous Sphere venue, but management allowed Bitcoin and Ethereum ads while rejecting XRP. He called on the community to boycott the Sphere as a result.

When asked directly about a token buyback plan to share Ripple’s wealth with XRP holders, Garlinghouse said this is not a short-term agenda item. He argued that holders benefit more from Ripple’s investments in growing the ecosystem and institutional adoption, which increase XRP’s use case and liquidity. As for whether Ripple could do something special for XRP holders if it eventually pursues an IPO, he said such a plan is not currently on the table, though it’s not entirely ruled out.

This is not investment advice.

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