Ripple Labs CEO Says Ongoing Crypto Crisis will Make Crypto Sector Stronger than Ever
Ripple executive is sticking to the axiom of “What does not kill you makes you stronger” for the DeFi sector. Commenting on the ongoing crypto crisis sparked by the FTX fallout Brad Garlinghouse claimed that crypto will emerge better and stronger than before.
He addressed his followers in the latest tweet, where he further shared some important updates about Ripple Labs.
He explained that the road to making cryptocurrency stronger is to adhere to the path of transparency and trust.
He reiterated that Ripple has been leading the way to the change for the crypto sector, and he also alluded to his address to the public during the annual Ripple Swell conference.
Ripple CEO Introduces New Updates for the Ripple Network
Talking about the contributions of the Ripple network, Garlinghouse claimed that RippleNet had processed around $30 billion in payments containing both Crypto and Fiat products.
At the start of the current week, the digital payments company announced the addition of Africa to its on-demand liquidity (ODL) network.
The Ripple ODL network is already operational in several locations like Argentina, Israel, Belgium, Australia, Brazil, Singapore, the UK, UAE, and the USA.
He also talked about the upcoming updates for RippleNet ODL in certain countries. He shared that the company was working on integrating advanced machine-learning options for the ODL system. According to him, RippleNet updates will enable investors to enjoy instant payments at optimal costs.
At one end, Ripple Labs has been gaining strength in its legal struggle against the SEC following the approval of 14 brief amicus applicants.
After Coinbase, a slew of cryptocurrency enterprises started to join the Ripple cause, and SEC submitted a request in the court to issue a deadline for amicus brief submission.
Judge Analisa Torres has complied with the request of the federal agency. The campaign for an amicus brief has been led by Ripple Lab’s general counsel John Deaton. It seems that XRP investors have to wait until the first quarter of 2023 to get a conclusive ruling.
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