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Ripple's CEO, Brad Garlinghouse, recently sat down for an Ask Me Anything (AMA) session with the company's senior VP of Marketing, Monica Long. The AMA discussion took place yesterday, Tuesday 18 December at 2.30 pm (PT).
If Ripple goes off, XRP will continue trading
In the AMA session (currently available online), Mrs. Long asks Brad Garlinghouse if she thinks of XRP as security or not. Ms. Long also recognizes that this was a question that Ripple's CEO has been asked on several occasions.
In his answer to the question, Brad Garlinghouse states the following:
I think it's very clear that XRP is not a security. There is a lot of basic reasons for this. One of the most important beliefs is … if Ripple closes the company … XRP trades on over a hundred exchanges around the world and XRP will continue to trade.
Ripple is an important participant in the XRP ecosystem … but there are a lot of participants …
2018 saw a lack of participation by institutional investors
In the AMA session, Brad Garlinghouse also stated that its 2018 forecasts for institutional investors to enter cryptocurrencies will have to be pushed to 2019.
A prediction I made that I think I was wrong … I really thought that 2018 would be a year in which you saw a growing participation in the digital resources markets by institutional investors.
I think we did not really see it. To the extent that we have … it has been in very small quantities. And I think it's largely because the industry is not mature enough enough to participate.
So I will push this forecast until 2019 while we wait for next year.
SEC has hard work deciding on a Bitcoin ETF
Brad Garinghouse also provided his views on the outstanding decision of Bitcoin's ETF to the SEC. Because of the sensitivity of an ETF, Ripple's CEO acknowledged that the SEC in the United States has hard work on the issue. The regulatory body has hitherto hinted at the fact that their biggest concerns are the risks associated with the handling of a Bitcoin-supported ETF.
Mr. Garlinghouse also added that 2018 did not help with the SEC task since we saw more concentration of BTC mining power. This centralized power increases the risks of manipulation.
More information on the AMA with Brad Garlinghouse and Monica Long can be found here.
What are your views on the recent Brad Garlinghouse AMA session with Monica Long? Do you think XRP can prosper without the Ripple company? Let us know in the comments section below.
Disclaimer: This article is not intended to give financial advice. Any other opinion present here is purely that of the author and does not represent the opinion of Ethereum World News or one of its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.
