Dumping To Stay Afloat? Ripple CEO Garlinghouse Says Company’s Profitability Is Driven By XRP Sales

Dumping To Stay Afloat? Ripple CEO Garlinghouse Says Company’s Profitability Is Driven By XRP Sales
ôîòî ïîêàçàíî ñ : zycrypto.com

2020-3-4 15:26

For a large blockchain company like Ripple to stay afloat, it necessitates money-inflow to fund its operations. However, it’s where this money comes from that has people talking. In a recent statement, Ripple’s CEO Brad Garlinghouse intimated that the company largely depends on XRP sales to stay bustling.

Financial Times reveals @ripple would be loss making without sales of #xrp@FTAlphaville @Frances_Coppola @lawmaster @prestonjbyrne https://t.co/LWqaBrIWLe

— Martin Walker (@MartinCWWalker) February 28, 2020

Basically, Brad meant that the funds earned from XRP sales are used to fund the various blockchain-oriented projects operated by the company. These monies could also be used to fund other in-house budgets including employee salaries. In fact, a while ago, it was reported that some of Ripple’s employees are paid in XRP. 

Dumping To Stay Afloat?

While Brad clarified that Ripple’s software products make a separate and significant source of revenue for the company, it’s the XRP sales that have become a thorny issue within the XRP community. Of late, there have been increased calls for the company to halt the monthly XRP sales that many think hurt the crypto’s price. Some have opined that the company is dumping XRP into the market at the expense of the community. 

However, it’s notable that, lately, Ripple’s XRP sales have reduced. In the fourth quarter (Q4) of 2019, the sales decreased by 80%. This is a positive development, although the crypto’s price didn’t make much of a reaction from it. 

Shoring Up Partners

Ripple has also been known to use its own funds to support its business partners. In the recent past, the company has used funds from XRP sales to support tech startups working on XRP use cases. The most recent funding from Ripple from another entity involved Ripple’s financial support for MoneyGram. MoneyGram received a cool $11.3 million from Ripple over the third (Q3) and fourth (Q4) quarters of 2019. 

According to MoneyGram, these payments or funding are a form of compensation for the company for boosting liquidity and are referred to as “market development fees.” Ripple’s engagement with MoneyGram will end on July 1st, 2023. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin & Company Network (BITN) íà Currencies.ru

$ 3.4E-5 (-0.68%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 7.68 %, 7d: 5.02 %
Cåãîäíÿ L: $3.4E-5 - H: $3.4E-5
Êàïèòàëèçàöèÿ $0 Rank 3624
Öåíà â ÷àñ íîâîñòè $ 0.0010568 (-96.78%)

company ripple stay brad xrp sales ceo

company ripple → Ðåçóëüòàòîâ: 126


Ripple CEO Reveals Why The Company Put $25 Million Into A Crypto-Focused Political Committee

Ripple Labs, Inc. , an American technology and crypto payments company, has announced plans to donate a whopping $25 million to a crypto-focused political committee. Brad Garlinghouse, the Chief Executive Officer (CEO) of Ripple, has provided insights into the company’s strategic reasons behind the lofty contribution.

2024-6-1 21:00


Ripple [XRP] Partner CEO: Cryptocurrency Is Ammo for Economic Shift

SBI Holdings (a partner of Ripple) CEO Yoshitaka Kitao said, during the Japan Blockchain Conference in Tokyo, that blockchain technology would fuel the next boom in the Japanese economy. The company is at the forefront of blockchain innovation as it plans to invest over $460 million in the industry through an AI & Blockchain fund, which […] Ripple [XRP] Partner CEO: Cryptocurrency Is Ammo for Economic Shift was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-6-29 21:14


Ôîòî:

High Chance Amazon Will Partner With Ripple (XRP) In 2018

Not content with being one of the most ubiquitous companies in the world, it is speculated that Amazon is highly likely to partner with Ripple (XRP) in 2018. Ripple, an international real-time gross settlement company dealing in currency exchange, supports cryptocurrency exchanges and flat coins, has been exploring growth expansion into the banking sector.

2018-6-20 17:30