Ripple chief executive Brad Garlinghouse doesn’t think that the leading meme token Dogecoin (DOGE) helps crypto.
While speaking at Consensus, Garlinghouse laments that the United States “represents the bottom decile of regulatory clarity” for digital assets and acknowledges that it’s difficult to predict when institutional money will provide upside opportunity for the crypto sector.
The Ripple CEO says the path forward for crypto has to be centered on solving real problems.
“We have to be about more than speculation. I get a ton of shit when I say these things, but I’m going to say it anyway. I don’t think Dogecoin has been a good thing for the industry. And I’m not anti-Dogecoin, but I don’t know what the use case is. I don’t know [if there are] projects being built to solve real utility. And I see lots of real utility across lots of different chains, and I think that is what’s critical.”
DOGE is trading at $0.159 at time of writing, a fractional decrease in the past 24 hours.
Ripple made headlines earlier this week after the San Francisco-based payments firm donated another $25 million to Fairshake, a federal political action committee (PAC) dedicated to supporting pro-crypto candidates during the election. The firm also made a $25 million contribution to the super PAC last year.
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