Ripple’s CEO Forewarns of US Government’s Potential Crackdown on Tether (USDT)

• Ripple CEO Brad Garlinghouse warns about the US government’s potential actions against Tether, the largest stablecoin issuer.
• Garlinghouse shares his experiences as the CEO of Ripple, including the challenges and triumphs.
• Despite regulatory pressures, Garlinghouse remains confident about the future of the crypto industry.

Brad Garlinghouse, Ripple CEO, discusses potential US government action against Tether, his journey as Ripple’s CEO, and his optimistic outlook for the future of cryptocurrency.

Garlinghouse Warns About Tether

In a recent conversation with Chris Vasquez, host of “World Class,” Ripple CEO Brad Garlinghouse issued a major warning about Tether, the largest stablecoin issuer. “The US government is going after Tether. That is clear to me,” he stressed. Despite the uncertainty surrounding the exact impact this will have on the ecosystem, Garlinghouse acknowledges Tether’s importance in the crypto sphere. Tether’s flagship USDT stablecoin is currently valued at $111 billion, according to CoinGecko data.

The Lonely Journey of Ripple’s CEO

Garlinghouse recalls his introduction to Bitcoin around 2012 and his initial skepticism about its potential to replace banks. This skepticism led him to Ripple’s approach, which aimed to combine traditional finance with cryptocurrencies. Despite having opportunities to work with companies like Uber, Garlinghouse was drawn to the “audacious” concept of the Internet of Value and potential use cases for the XRP token. However, his journey as Ripple’s CEO has been “lonely,” lacking the peer camaraderie he experienced at Yahoo.

The Dark Times and Triumphs at Ripple

Garlinghouse admits that the lawsuit from the U.S. Securities and Exchange Commission marked “a pretty dark time” for Ripple. However, he also notes that the transparency about the legal battle brought the company together. The partial victory against the SEC on July 13, 2023, was a significant high point for the company, moving Garlinghouse to tears.

Optimistic Outlook for Crypto Industry

Despite the current regulatory pressure, Garlinghouse is confident that the SEC will not succeed in curtailing the crypto industry. He views these challenges as mere bumps in the road for the crypto market. While acknowledging the unpredictability of the crypto market, Garlinghouse does not see quantum computing as a potential threat to the industry.

Conclusion

Brad Garlinghouse’s journey as Ripple’s CEO has been marked by challenges and triumphs. Despite facing potential government action against Tether and regulatory pressures from the SEC, Garlinghouse remains optimistic about the future of the crypto industry. His experiences and insights provide a unique perspective on the rapidly evolving world of cryptocurrency.