Amid regulatory challenges at home, Ripple is strategizing a significant expansion plan. Setting its sights beyond the United States, this crypto titan is keen to spread its wings in global territories.
Garlinghouse’s Vision: Ripple Must Partner Progressive Governments
Brad Garlinghouse, Ripple’s CEO, shed light on the company’s forward momentum. He revealed that a staggering 80% of Ripple’s hires in the current year will be based in regions that share a harmonious relationship with the crypto sector. Key destinations on their radar include Singapore, Dubai, Hong Kong, and the United Kingdom. According to Garlinghouse, these nations are leading the pack, establishing clear regulations, fostering industry partnerships, and witnessing exponential growth.
Ripple’s reluctance to expand within the US stems from its legal confrontations with the Securities and Exchange Commission (SEC). July witnessed a significant, albeit partial, victory for Ripple. The court asserted that Ripple’s XRP sales did not equate to an investment contract offer. This judgment cemented Ripple’s stance and catalyzed the asset’s valuation. The universal rule of thumb is that assets generally respond to Bitcoin’s performance, which has been downturned.
Yet, the saga didn’t end there. The SEC, discontented with the verdict, lodged a formal appeal in September. While some industry watchers are skeptical about the Commission’s chances, others remain hopeful. Should Ripple triumph conclusively, the anticipation is a bullish run for XRP in the future.
The Word from Inside: John Deaton’s Take
Adding to the intrigue, a renowned pro-XRP attorney, John Deaton divulged some inside scoop. Ripple’s next move, he says, will see a surge in its workforce in three major cities – Dubai, Singapore, and London. This intel, Deaton reveals, comes straight from the top echelons of Ripple’s management.
The Twitter sphere, a hotbed for crypto enthusiasts, was abuzz with this development. Many deduced that Ripple’s move was a calculated response to the regulatory fog in its US homeland. Some quipped that perhaps Ripple’s decision was influenced by the sheer challenge of hiring in the world’s largest economy, where top-tier talent is sparse.
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