Brad Garlinghouse explains why he chose to attend the World Economic Forum. He attended this in Switzerland. Video. Brad is the CEO of Ripple Labs. He said that the bitcoin industry “needs to be more transparent.”
Garlinghouse discussed industrial regulation with “Mornings with Maria” in Switzerland. He said that he flew to Davos to meet with other CEOs and finance ministers. He discussed how new technologies might address issues, cut costs, and enhance efficiency.
The U.S. is lagging behind other G-20 economies, such as the U.K., Switzerland, and Singapore. This is in relation with crypto regulation, according to Garlinghouse. He added that “the U.S. has yet to develop a solid regulatory foundation for crypto.”
He said that these markets are establishing an investor and business friendly framework.
The volatility of Bitcoin has been comparable to that of the stock market. According to CoinDesk, the price of bitcoin fell below $25,000 two weeks ago. This is its lowest price since December 2020. Tuesday morning, the cryptocurrency was trading at around $29,000. It is down from almost $68,000 in November 2021.
There has been a great deal of volatility in the cryptocurrency market. But bitcoin was around $8,000 two years ago. It is now $30,000.”
“Our emphasis has been on using technology to solve actual consumer concerns. These solutions will expand independent of market instability and turbulence.” Said Garlinghouse.
Inflation continues to exceed 40-year highs. It is limiting investor appetite for riskier assets. This is according to April data released earlier this month. Garlinghouse said that crypto industry transparency is more crucial than ever.
According to Janet Yellen, there has been a quick fall in crypto markets. It highlighted the need for tighter government regulation. This is in response to speculative investment in anonymous money.