Ripple CEO Brad Garlinghouse’s interview on 60 Minutes stimulated debate regarding Ripple’s affairs and included criticisms of the leadership.
Gary Cardone questions Ripple’s marketing and strategy, suggesting that Brad Garlinghouse might not be the best leader for the company following the 60 Minutes interview.
Ripple CEO Brad Garlinghouse has now been on an interview with 60 Minutes, which brought a bit more light to Ripple and the entire crypto industry. The interview, however, was criticized for having a segment featuring none other than the great John Reed Stark, an outspoken critic of crypto who denounces it as a scam that has no use. These views come in close to those of the SEC Chairman Gary Gensler, causing quite a stir because many people think they were given without proper counterpoints.
“Garlinghouse later went on social media and pointed out that 60 Minutes has failed to mention a federal judge ruling that XRP is not a security.” He further stated that the program failed to mention the legal defeats of the SEC and the meetings between Gensler and FTX founder Sam Bankman-Fried. All this led people to wonder whether there might be partiality in the reporting.
Criticism towards Garlinghouse’s Leadership and Strategy.
On the Good Morning Crypto Show, Gary Cardone of Cardone Digital Ventures spoke about Garlinghouse on 60 Minutes. He prefers to say his truth rather than worrying about editing it out. He pointed out that Ripple paid for the interview, which was probably in millions and questioned why Garlinghouse would let it be edited in a messed up way to make him look bad. Cardone argued that if Garlinghouse could not control the interview, doubt would be cast on his leadership. He further condemns the marketing strategy stating it is a failure as an investment.
He admitted buying XRP from Garlinghouse with the belief that he would make it better. There is, however, no certainty as to how long he intends to keep it. He also had to say that whenever he asked a question regarding Ripple-related issues, he never received an answer, especially as to why Ripple doesn’t just copy the strategy of MicroStrategy, which has bought and held assets like XRP.
Ripple’s Success Amidst the Controversy.
Garlinghouse viewed the hearing as a win for Ripple because the company was able to show the legitimate use of XRP in cross-border transactions while also bringing attention to the growing recognition of blockchain technology.