In a recent Twitter flood, Ripple CEO Brad Garlinghouse weighed in on the recent cryptocurrency crash, arguing that the market will “shrink” in the near term.
Garlinghouse remains bullish in the long run. According to him, cryptocurrencies will eventually become an “integrative part” of the financial system. Garlinghouse said that Ripple, one of the oldest crypto companies, has managed to weather bear market declines by having experienced managers, focusing on the long term and working transparently. While many crypto companies have stopped hiring or started to cut staff, Ripple says it can increase headcount, even in a bear market, after providing a “significant” cash balance.
Days like today are never what you hope to see, esp. in an industry w/ as much incredible talent as crypto. If you recently joined the industry and haven’t seen a downturn like this, know that this too shall pass (advice from someone who’s seen a few downturns over the years).
— Brad Garlinghouse (@bgarlinghouse) June 13, 2022
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