Ripple CEO Brad Garlinghouse Intends to Use MoneyGram Deal as Driver for Ripple’s Further Growth

Libra Coin News
Fri, 08/09/2019 - 12:34
Yuri Molchan
The Ripple CEO says that following the successful deal with MoneyGram, he plans to adjust the company’s strategy and use it for developing  Ripple’s advantages
Cover image via twitter.com

In a recent interview, the CEO of Ripple Brad Garlinghouse shared that the blockchain giant is engaged in discussions on further options to invest and acquire other companies, following the successful deal with MoneyGram.

Garlinghouse said:

We’re in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage.”

Even though, he did confess that discussions on further investments and acquisitions are taking place, no further details followed.

However, from Garlinghouse’s words it is clear that Ripple plans to accelerate its further expansion and increase the company’s advantages in the global market.

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A petition to ban Ripple from selling its XRP

Ripple owns about 55 percent of XRP tokens, which are worth approximately $13.7 bln. The majority of them is stored in escrow.

However, the company sells portions of XRP on a regular basis, thus dumping more coins to the market. Some believe that this is preventing the coin from any major growth, making the asset more available and eliminating its scarcity.

An XRP enthusiast has created a petition on Change.org and is collecting signatures to prohibit Ripple to sell XRP and stop dumping the coin’s price.

At press time, 1,500 people have signed the petition.

Image by Change.org

 

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.


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