Ripple Confident on Company’s Growth despite Current Market Woes

UTC by Kofi Ansah · 3 min read
Ripple Confident on Company’s Growth despite Current Market Woes
Photo: Depositphotos

Garlinghouse also stated that his company has no “no assholes policy”, a statement which many believe was a subtle jab aimed at Kraken CEO Jesse Powell. 

Ripple has revealed that the company is in a strong position and foresees its growth continuing regardless of the latest challenges across the crypto world. In a recent tweet, the CEO of the company, Brad Garlinghouse, stated that he was still bullish on the long-term success of cryptocurrencies regardless of the severe market correction.

Garlinghouse also highlighted the company’s potent financial position, which will allow it to continue recruiting “hundreds” of new people around the world. The CEO of Ripple also claimed that the company has managed to secure a “substantial” cash reserve, which will make it possible to keep expanding its staff even during the current bear market.

Amid the crypto market collapse, some cryptocurrency companies, including BlockFi and Gemini, have drastically decreased their workforce. According to reports, Coinbase employees were taken off guard by the company’s move to cut its workforce by 18%.

Garlinghouse also stated that his company has no “no assholes policy”, a statement which many believe was a subtle jab aimed at Kraken CEO Jesse Powell.  Powell earlier this week, sparked outrage after calling his employees “triggered” and purportedly forbidding them from using the words “hateful” or “racist” to describe others. Powell was also accused of making misogynistic remarks about women.

Ripple has been steadily gaining back the confidence of its investors after a series of developments in the last few months. Ripple’s legal battle with the SEC, which somewhat kickstarted XRP’s downward spiral, is now looking good for the company.

The latest hearing, according to Jeremy Hogan, an Orlando-based attorney, didn’t go well for the SEC. “We used to call those ‘suicide mission hearings’ because you were being sent to your death, but it was actually much worse for the SEC than you may even imagine as some major errors were made today by them,” he stated.

While the news brought a glimmer of hope to XRP investors, there have been other developments from the camp of Ripple, which look to set it right back on track to the top.  Earlier this year, payments platform Modulr and Ripple, together with Brazilian fintech Remessa Online, announced a partnership to enable seamless payments in the UK and Europe. The partnership was aimed to make it easier for Remessa Online to run real-time payments across the globe.

Myles Stephenson, founder, and CEO of Modulr, expressed his delight at the partnership and vowed to take advantage to grow the company. “Remessa Online is our first Brazilian fintech customer to make use of our partnership with Ripple. We share a common goal of making international payments as seamless and fast as possible by removing the hidden inefficiencies hampering international payments today. At Modulr, we’re looking forward to working with Remessa Online and our long-term partner Ripple on delivering real-time, reliable, and transparent payments into the UK and Europe,” he stated.

Altcoin News, Blockchain News, Cryptocurrency news, News, XRP News
Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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