As the CEO of Ripple, Brad Garlinghouse, said, the cryptocurrency XRP has recorded in the third quarter so far a record level of participation of institutional investors. During a recent streamed live ask-me-anything (AMA) on Youtube, Garlinghouse also talked about the transparency of XRP compared to the entire crypto-ecosystem.
Brad Garlinghouse has once again posed for an AMA on Youtube and answered current questions on the ripple and XRP ecosystem. He said that the company’s next quarterly report on how much XRP the company sold to institutional investors will be of great interest.
“One of the things I’m going to pick out for a future announcement – we’re going to do the Q3 XRP Market Report, which we always share, where we see the institutional stake in buying XRP. Q3 will definitely set a new record in recording institutional participation and reflect the interest in holding XRP. “
Garlinghouse also commented on one of the biggest concerns that XRP is facing, namely the state of devolution, which is rudimentary for crypto warriors. The biggest criticism is that the company Ripple currently holds 60 percent of the total supply of XRP (60 million XRP), of which 91 percent (about 55 million) are managed in trust.
In that regard, as we have seen, Ripple has also faced a number of lawsuits in which the claimants allege that the company used its control of XRP to manipulate prices in the market.
Ripple won earlier this month his first lawsuit from three present. As Garlinghouse explained, Ripple sees no misconduct and sees a healthy and ethical distance between the company and the XRP token:
“There is a lot of misinformation in the crypto area. I think it’s clearer than ever that XRP is decentralized. And it will be even more decentralized. There are a total of 150 known validators in the XRP network, of which Ripple manages only 10, that is only 7 percent. When people start to argue, I do not even know where to start. It is not centralized. There is a centralized company called Ripple that invests in XRP. Of course, we are interested in seeing the XRP ecosystem succeed. But there are many of them.”
“Ripple will continue to focus on solving real problems. We want to ensure that we create the most transparent XRP ecosystem as a participant in this ecosystem. We were, I think, more proactive and transparent than any other major player in the field. People say, “Well, you have a lot of XRP.” Well, we do not know how many ethers or some other important players are. We are just more transparent. “
Regarding institutional investments in the cryptocurrency space, Garlinghouse stated that it looked like big institutions would slowly start making their move.
“I think many people think 2018 is the year in which institutional money is flowing into the market, and there are examples of that, but I expected more institutions to participate in 2018.”
“The announcement of ICE and its planned exchange called Bakkt, with the participation of a handful of participants, is a big deal, and I think it shows where the world is headed. I think we will see more players playing and I think that’s a good sign. This is indicative of the maturing of the industry. I like to say that we are still in this toddler age and we have a way to go. And as we see big players entering the marketplace, I think this is a big step forward.”