Dogecoin depends on tweets by Elon Musk: CEO of Ripple

The CEO of Ripple specifically brought up Dogecoin while discussing the need for minimal regulation of cryptocurrency exchange trade.

Offer liquidity for all cryptos 

Brad Garlinghouse, CEO of Ripple, and Gideon Lichfield, Global Editor-in-Chief at Wired, had a conversation on crypto regulation, regulating centralized crypto exchanges, the demise of Terra’s stablecoin, UST, and other topics on June 23 at the 2022 Collision Conference on Toronto.

When questioned if respectable exchanges should be allowed to trade anything that consumers desire or if traders and investors should be safeguarded and, thus, certain assets should be restricted, Garlinghouse cited Dogecoin as an example of a suspect asset.

According to the CEO, if he were an exchange, he would want to offer liquidity for all cryptos or crypto-pairs that consumers wanted to trade, including coins like DOGE. 

Dogecoin was created in 2013 as a joke, many of the original developers have already left the project, and Garlinghouse said that Dogecoin “seems to trade solely depending on Elon Musk’s tweets.”

He concluded by saying that customers are always right and that firms should not instruct them on what constitutes ethical or moral behavior.

However, the editor-in-chief of Wired referred to the original joke cryptocurrency as “something as idiotic as Dogecoin” in his commentary.

Garlinghouse talks about Tesla and DOGE

Garlinghouse stated that Tesla would not have been able to go public and become the company it is today thanks to Elon Musk if the Nasdaq had not allowed trading firms listed on the New York Stock Exchange without a better strategy. 

This was in response to the question of whether customers on cryptocurrency exchanges should be protected.

Giving exchanges the authority to govern the assets they trade, he found, seemed risky.

The Nasdaq composite index peaked before the epidemic and is currently down around 50%, while the cryptocurrency market is down about 65%, according to the CEO, proving that every asset is subject to some kind of volatility.

The CEO and Director of the Board of Directors of Ripple are Brad Garlinghouse. Brad was the CEO of the file collaboration business Hightail before joining Ripple. 

He held a variety of managerial positions at Yahoo! from 2003 to 2009, including Senior Vice President, before serving as President of Consumer Applications at AOL from 2009 to 2012.

Earlier As CEO of Dialpad Communications over his career, Brad contributed to the development of the VoIP sector. He presently sits on the OutMatch Board of Directors and has previously served on the boards of Ancestry.com and Tonic Health.

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