Fox Business "Ripple CEO's Net Worth $10 Billion... Financial Information Could Be an Issue"
Summary
- It was reported that Ripple's opaque financial information could be a stumbling block in the U.S. Securities and Exchange Commission (SEC) related case.
- Ripple CEO Brad Garlinghouse's net worth has reached about $10 billion.
- It was noted that XRP was used to build the Ripple platform.
Concerns have been raised about the transparency of Ripple's financial information, the issuer of XRP.
Charles Gasparino, Fox Business's chief correspondent, stated on the 20th via X that "the recent surge in XRP prices has brought Ripple CEO Brad Garlinghouse's net worth to about $10 billion," adding that "(Garlinghouse CEO) has become one of the wealthiest individuals in the United States." He noted, "(However) no one has seen 'public filings' on how much revenue Ripple generates so far," and stated, "Ripple is not just a blockchain experiment but a company in the traditional sense."
Gasparino pointed out that Ripple's opaque financial information could be a stumbling block. He said, "(Financial information) will be a key part when the U.S. Securities and Exchange Commission (SEC) handles the Ripple-related case," asserting that "while XRP's retail transactions meet decentralization requirements, it is clear that XRP was used to build the Ripple platform." He continued, "This issue may be raised at next week's confirmation hearing for SEC Chairman Paul Atkins," adding that "someone like Senator Elizabeth Warren, who is well-versed in securities law, might mention this issue."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
