Brad Garlinghouse, Ripple CEO, disclosed that 80% of the new intakes for the year will be recruited from international locations, repeatedly voicing his intention in a recent interview amidst regulatory uncertainty to relocate away from the United States.
Garlinghouse further stated that governments are collaborating with the industry in Singapore, Hong Kong, the United Kingdom, and Dubai. He emphasized that there is strong leadership, clear regulatory guidelines, and evident economic expansion within the blockchain and cryptocurrency sectors. During a panel at Token 2049 in Singapore, he said,
“The only country I would not encourage you to start a company in is the U.S.”
A report from July revealed that opened positions at crypto firms in the U.S. have dropped compared to 2021 and 2022. Several major cities in the region saw drops as high as 80%. Tonantzin Carmona, the author of the report, said,
“During the growing crypto popularity in the mid-2010s, industry job postings saw an upward trend. However, much like the prices of cryptocurrencies, this trend was not without volatility.”
Garlinghouse also touched upon the potential change in leadership within the United States government. He expressed the view that change is unavoidable, and eventually, Congress will need to respond. A user on the X platform commented line with this perspective and said;
“Imagine your whole business survival strategy depends on electoral change is cr*zy. Remember, a Judge Decides in the end, not the SEC. There is a reason why FTX US will be made whole while FTX international will not.”
The Ripple CEO discussed the well-known legal battle with the Securities and Exchange Commission (SEC). Garlinghouse stated that Ripple has committed substantial resources, exceeding $100 million, towards legal expenses tied to the lawsuit. Nonetheless, he maintains confidence in the company’s prospects of prevailing in the case. He stated,
“You have a government with limitless resources continuing to pursue a battle they’ve already been defeated in.”
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