Ripple Prefers Overseas Talent, Shifts 80% Of Hiring Due To Regulatory Challenges
Portfolio Pulse from Murtuza Merchant
Ripple CEO Brad Garlinghouse announced that the company plans to conduct 80% of its hiring outside the U.S. due to ongoing regulatory challenges. He criticized the lack of clarity in U.S. regulations, contrasting it with clearer frameworks in regions like Singapore, the U.K., and Dubai. Garlinghouse also touched upon the recent legal victory for Ripple, where a U.S. court ruled in favor of the company, stating that its native token, XRP, is not a security. However, the SEC has indicated a potential appeal against the decision.
September 13, 2023 | 1:39 pm
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Ripple's ongoing regulatory challenges in the U.S. and its decision to hire predominantly overseas could impact investor sentiment towards XRP. The recent legal victory for Ripple, where a U.S. court ruled that XRP is not a security, is a positive development, but the potential SEC appeal introduces uncertainty.
Ripple's decision to hire predominantly overseas due to regulatory challenges in the U.S. could be seen as a negative signal by investors, potentially impacting the price of XRP. However, the recent legal victory for Ripple, where a U.S. court ruled that XRP is not a security, is a positive development for the company and could boost investor confidence. The potential SEC appeal against this decision introduces uncertainty, which could lead to price volatility.
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