Ripple CEO Brad Garlinghouse recently appeared on 60 Minutes, marking a notable moment for cryptocurrency on mainstream media. The interview by Margaret Brennan focused on the crypto industry’s efforts to achieve regulatory clarity. However, Garlinghouse expressed dissatisfaction with the program’s portrayal of cryptocurrencies and its exclusion of key developments about Ripple and XRP.
Garlinghouse highlighted the impact of blockchain technology in reshaping global payments and Ripple’s role in facilitating efficient cross-border transactions. While these progress were acknowledged, the program failed to address a ruling by a federal judge that classified XRP as not a security in essence. Garlinghouse, a Harvard Business School alumnus, emphasized that he has never regarded XRP as a security.
The interview also featured some comments from the ex-SEC official named John Reed Stark, who said that many judges think cryptocurrencies belong to securities. Garlinghouse accused this segment of providing a skewed view of the legal environment towards cryptoassets while entirely ignoring the recent legal win that Ripple scored.
Also Read: Ripple CEO and Industry Leaders Back Paul Atkins as New SEC Chair, Expecting Major Regulatory Shift
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Ripple CEO Refutes Claims of Crypto’s Lack of Utility
Garlinghouse took issue with 60 Minutes’ suggestion that cryptocurrencies lack practical use, drawing parallels to skepticism during the early internet era. He pointed out how institutions like JPMorgan Chase are adopting blockchain technology, challenging the program’s narrative. Ripple’s ability to move billions in Know Your Customer (KYC) payments efficiently was notably absent from the coverage.
It also highlighted crypto funding to election Super PACs, arguing that crypto firms funded generously in the previous election. Ripple and two other companies donated $144 million to the course, ensuring a crypto-friendly figure, Donald Trump, takes the white house. This angle received criticism from the cryptocurrency community, with many blogs accusing 60 Minutes of releasing a biased report.
Conclusion
Garlinghouse’s interview raised awareness about crypto’s role in modern finance but faced criticism for its selective reporting. The exclusion of Ripple’s legal progress and crypto’s utility underscored concerns about balanced representation in mainstream media. Crypto advocates continue to emphasize the importance of accurate narratives as the technology gains traction globally.
Also Read: XRP Price Surge Drives Momentum, Ripple CEO Highlights Key Banking Challenges and Solutions
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.