Home Future payments Ripple CEO Brad Garlinghouse Hints at Future Mergers and Acquisitions – Bitcoin News

Ripple CEO Brad Garlinghouse Hints at Future Mergers and Acquisitions – Bitcoin News

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While visiting the World Economic Forum (WEF) event in Davos, Ripple Labs CEO Brad Garlinghouse discussed the company’s growth opportunities and despite the downturn in the crypto economy, Garlinghouse spoke future mergers and acquisitions.

“I think we are more likely to be the buyer,” Ripple Labs CEO Brad Garlinghouse said during an interview in Davos.

Most recently, at the WEF conference in Davos, Ripple Labs executive Brad Garlinghouse told CNBC in a interview that Ripple Labs has “a very strong balance sheet”. Garlinghouse spoke about the possible participation of Ripple Labs in merger and acquisition (M&A) agreements and Ripple Labs will be the buyer. “We are now at a stage of growth where I think we are more likely to be the buyer than the … seller,” Garlinghouse told CNBC author Arjun Kharpal. Garlinghouse further noted that he expects to see an increase in mergers and acquisitions in the blockchain industry.

“I think there will be a slight increase in mergers and acquisitions in the blockchain and crypto space,” Garlinghouse explained during his interview. “We haven’t seen that yet. But I think it’s likely in the future. And I certainly think as that unfolds we would consider things like that.

There have been a number of acquisitions in the crypto space during the second half of 2021 and the first quarter of 2022. For example, Coinbase acquired the company Fairx Exchange in January 2022, and Opensea also acquired Dharma Labs that month. In February, Ethereum software company Consensys announced the acquisition of the Mycrypto wallet. The following month, in March, fractional investment firm Public announced the acquisition of digital collectibles and non-fungible token (NFT) tech startup Otis.

In April, payment, payment and shopping network, Bolt, acquired Wyre for $1.5 billion. Additionally, at the end of May, Huobi Global revealed that it had acquired Latin American crypto exchange Bitex. Ripple Labs CEO’s statements in Davos also follow billionaire and FTX co-founder Sam Bankman-Fried talking about spending billions on M&A deals. Garlinghouse explained to Davos that “there is a lot of room for growth in crypto, and we see many different niches for that.”

Meanwhile, the crypto asset xrp (XRP) is the sixth largest market capitalization out of over 13,400 crypto assets in existence today. Since the beginning of the year, however, XRP has lost 59.2% against the US dollar and 34% has been lost in the last 30 days. XRP also did not experience an all-time high (ATH) seven months ago, unlike many other digital assets in November 2021. XRPThe last recorded ATH was over four years ago on January 7, 2018, following the 2017 crypto bull run. XRP is down over 88% as this ATH and its market valuation represent 1.49% of the $1.28 trillion value of the entire crypto economy.

Keywords in this story

Acquisitions, Brad Garlinghouse, CNBC Interview, crypto-economy, Davos, co-founder of FTX, mergers and acquisitions, mergers, mergers and acquisitions, Ripple, CEO of Ripple Labs, Ripple XRP, Sam Bankman-Fried, Token, WEF, Forum global economic, XRP, XRP (XRP)

What do you think of Garlinghouse’s statements at Davos on future mergers and acquisitions? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News about disruptive protocols emerging today.




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