Ripple CEO Brad Garlinghouse, speaking at the third Wyoming Blockchain Symposium, assessed that the U.S. crypto regulatory environment is changing in a positive direction and reiterated his support for the CLARITY Act. He also signaled a more open attitude toward the possibility of a Ripple IPO than in the past.

"From regulatory pressure to participating in building the framework"

According to overseas crypto media outlet Cointelegraph... (CoinGape), Garlinghouse said that unlike the past, when the crypto industry faced intense regulatory pressure, the industry has now entered a stage of participating in the process of establishing U.S. regulations. He drew a line, however, at the claim that the industry opposes regulation itself.

CoinGape reported that Garlinghouse criticized Senator Elizabeth Warren's views on virtual assets. He emphasized that Ripple holds 75 licenses worldwide and reiterated that a U.S. federal court ruled that XRP itself is not a security.

Expects CLARITY Act passage... "Clarity needed for the entire industry"

Regarding the CLARITY Act, he stated that clear regulatory frameworks covering the entire industry are necessary for the success of the U.S. crypto industry. According to CoinGape, Garlinghouse said, "From Ripple's perspective, for the industry to succeed in the U.S., there needs to be clarity for the whole industry," adding, "Because broad clarity is needed, Ripple has actively supported the CLARITY Act."

He also expressed hope about the bill's chances of passage. CoinGape reported that Senator Tim Scott, Senator Cynthia Lummis, and White House crypto advisor Patrick Witt are optimistic about the CLARITY Act's passage, and that Garlinghouse shares that positive outlook. Ethics-related provisions remain a sticking point, but he is said to maintain expectations that the bill can clear its final hurdles.

Bridging traditional finance and blockchain is now Ripple's strength

According to CoinGape, Garlinghouse explained that Ripple has long focused on connecting traditional finance with blockchain. He argued that although this approach was criticized in the past by the crypto industry and so-called 'purists,' as the regulatory environment has evolved, it is now regarded as Ripple's strength.

Ripple's business growth continues despite the bear market. CoinGape reported that Garlingouse... Garlinghouse said Ripple is on track for a record year, with revenue expected to more than double year-over-year. He emphasized that the key driving force behind the crypto industry today is institutional infrastructure.

He also noted that Kraken, a privately held company, has recorded strong revenue despite overall market difficulties. According to CoinGape, he explained that Kraken's diversification beyond retail investors and crypto assets is behind this performance.

"More neutral stance than in the past" on Ripple IPO

With Kraken announcing its IPO plans and filing related documents with the U.S. Securities and Exchange Commission (SEC), the possibility of a Ripple IPO has also become a talking point. According to CoinGape, Garlinghouse said of Ripple, "We've been very happy being a private company for a long time." He added that circumstances have changed, saying, "We've become a bit more neutral on this issue than in the past."

Details of Ripple's acquisitions and shareholder buybacks were also disclosed. According to CoinGape, Ripple carried out corporate acquisitions worth about $2.5 billion over the past year and conducted tender offers for shareholder stakes worth about $3 billion over the past two years. Garlinghouse predicted that additional industry consolidation and larger deals will emerge during the crypto market downturn.

The combined annual transaction volume handled by Ripple-acquired Hidden Road and GTreasury amounts to about $16 trillion. CoinGape reported that Garlinghouse described this as similar in scale to Visa's transaction volume. He argued that moving some of these transactions to the XRP Ledger would enable meaningful improvements in speed, cost, and payment processing.

"Bloated organizational structure, not AI, is the main cause of layoffs"

He also shared his views on artificial intelligence (AI). According to CoinGape, Garlinghouse argued that the primary cause of large-scale corporate layoffs is often not AI but excessively bloated organizational structures. He explained that using AI allows growing companies to operate more efficiently.

Regarding 'agentic payments,' where AI executes transactions autonomously, he acknowledged their potential while emphasizing the need for safeguards. CoinGape reported that Garlinghouse stated that protections surrounding corporate access permissions and the scope of human accountability must be established.

CoinGape added that companies are heavily relying on highly secure, bank-grade institutional crypto custody services to support the large inflows of corporate capital into the crypto market.

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