3 Predictions on the Future of Cryptocurrency

3 Predictions on the Future of Cryptocurrency

Not surprisingly, Brad Garlinghouse is bullish on the future of the cryptocurrency business. He's the CEO of Ripple, the crypto exchange whose own digital coin, XRP, is regularly the fourth largest cryptocurrency in the world by market capitalization. According to Garlinghouse, who spoke this week at the virtual Collision conference, digital currencies are here to stay, and regulators ought to be working to make sure the U.S. isn't left out of crypto's global future.At the same time, Ripple currently finds itself in the crosshairs of regulators. The Securities and Exchange Commission is suing the company for not registering XRP as a securities offering. The agency argues that XRP is actually an investment contract, and not a cryptocurrency like Bitcoin and Ether. The SEC also has claimed that Garlinghouse and other Ripple executives have made millions in profit from XRP, all the while failing to prove that the digital token has any practical use. The lawsuit has caused the price of XRP to drop significantly (the current price of $1.31 is roughly 60 percent below its 2018 high of $3.31), and many crypto exchanges decided to boot the token from their platforms.Ripple is fighting the lawsuit with the help of former Obama administration SEC Chair Mary Jo White,