Ripple CEO Brad Garlinghouse doesn’t think leading meme token Dogecoin (DOGE) is good for the cryptocurrency.
In Consensus, Garlinghouse lamented that the U.S. “represents the bottom decile of regulatory clarity” for digital assets and acknowledged that it is difficult to predict when institutional funds will present upside opportunities for the cryptocurrency sector.
Ripple CEO says the direction of cryptocurrency development should focus on solving real problems.
“We have to go beyond guessing. I get a lot of shit for saying this, but I’ll say it anyway. I don’t think Dogecoin is a good thing for the industry. And I’m not against Dogecoin, but I don’t know what the use case is. I don’t know if there are any projects being built to solve any real utility. And I see a lot of real utility across different chains, and I think that’s very important.”
DOGE is trading at $0.159 at the time of writing, down slightly over the last 24 hours.
Ripple made headlines earlier this week after the San Francisco-based payments company donated an additional $25 million to Fairshake, a federal political action committee (PAC) dedicated to supporting cryptocurrency-backed candidates during elections. . The company also donated $25 million to Super PACs last year.
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