Ripple’s Brad Garlinghouse recently pointed out United States’ broken financial system in light of Silvergate, SVB episodes Cardano’s Charles Hoskinson also criticized the government’s position on crypto Ripple CEO Brad Garlinghouse took to Twitter yesterday to set the record straight regarding his blockchain company’s exposure to the now-defunct Silicon Valley Bank. At the time, Garlinghouse […]
Ripple’s Brad Garlinghouse recently pointed out United States’ broken financial system in light of Silvergate, SVB episodesRipple CEO Brad Garlinghouse took toyesterday to set the record straight regarding his blockchain company’s exposure to the now-defunct Silicon Valley Bank. At the time, Garlinghouse revealed that there was “some exposure to SVB,” especially since it served as the banking partner for Ripple and held some of the firm’s cash balances.
He further pointed out that rumors and FUD led to the collapse of the banks and the inability of firms to move around their own funds. The latter, according to the exec, highlighted the plight of the country’s financial systems.by popular crypto-lawyer John Deaton who agreed with the need for a disruptive technology to modernize United States’ banking system. Ironically, Ripple already addresses these issues with its blockchain solutions for payments.
The statements made by Garlinghouse resonated with fellow blockchain entrepreneur Charles Hoskinson, the man behind
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Ripple discloses exposure to SVB; not caused business operations disruptionWhile the future of Silicon Valley Bank (SVB) is still being decided, another crypto player has declared exposure to the failed bank. And, this time around the firm in the headlines is Ripple – a popular blockchain-based digital payment network. In a Twitter thread, CEO Brad Garlinghouse stated that the company had exposure to SBV. […]
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