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Rappel CEO: US lawmakers help Ethereum replace Ripple in second place

A senior Ripple executive says the US Securities and Exchange Commission may have helped Ethereum, in particular, replace Ripple as the market’s second-largest currency.

to the Report In an interview with DC FinTech Week, Brad Garlinghouse, CEO of Ripple Labs, said that before the Bitcoin Commission sued them, Ripple was the second largest currency after Bitcoin. Has been a market.

Garlinghouse said:

It is foolish to think that the US government is not interfering in the selection of the winners of the US digital currency ecosystem. In the last few years, Ripple has been the second most valuable currency in the market. When it became clear that the Exchange Commission had authorized Ethereum, [قیمت] Ether soared. Basically, I believe we should let the market flow determine the winners and losers, not do it as we do today by enforcing the law.

In December 2020, the US Securities and Exchange Commission filed a lawsuit against Ripple, alleging that the XRP tokens were unregistered and that Rapil officials had sold the assets without permission. Market data show that the lawsuit caused the XRP price to fall from $ 0.57 to $ 0.26. At the moment, each XRP unit is priced at around $ 1.09.

It can be said that the fate of Ethereum was completely different from Ripple. The US Securities and Exchange Commission announced in 2018 that Ethereum and Bitcoin are not considered securities. Market data show that Ethereum prices have risen almost ninefold since the stock exchange commission announced the issue.


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