Ripple CEO responds to NYSE Chairman’s comment on digital assets

In a recent tweet, Brad Garlinghouse, the CEO of the leading blockchain Fintech firm, Ripple, responded to the statement made by the New York Stock Exchange [NYSE] chairman. Jeff Sprecher, in an interview with CNBC stated that cryptocurrencies are here to stay. Regarding this, Garlinghouse stated that as volatility in the market is not equivalent to the end of stocks, similarly, digital assets will not reach their end either. In his words:

“Exciting to see more people in traditional finance world take the long view on digital assets. Just like stock market volatility ≠ the end of stocks, digital assets aren’t going away”

Despite the crash in the cryptocurrency market, the CEO of the parent company of NYSE, Intercontinental Exchange [ICE], stated that there is a place for digital assets in the regulated markets.

Intercontinental Exchange is also behind a Bitcoin futures trading platform called Bakkt. According to crypto-investor and the CEO of Galaxy Digital, Mike Novogratz, the viewpoint of regulators like Securities and Exchange Commission can be changed when big players such as ICE begin including services associated with cryptocurrencies.

Dr.T, a popular member of the XRP community and a Twitterati on Garlinghouse’s tweet replied:

“People who think digital assets without a counter-party like XRP is just a fad that will disappear are going to as wrong as people who thought electricity was a fad. Bitcoin is like Direct Current (DC) and XRP is AC. You know the history: AC replaced DC.”

Here, another Twitter user called Satoshimasen responded:

“Except that dc applies to automotive, telecoms, integrated circuits and low voltage applications in every corner of the world. <cough>”