Speaking at the Consensus 2024 conference, Garlinghouse said that Dogecoin, the largest memecoin, has no practical use and does not help the cryptocurrency industry.

Despite its significant market cap of $23.22 billion, Garlinghouse stated that DOGE has no real value but only encourages and thrives on speculation in the crypto sector.

Stating that there is no regulatory clarity for crypto in the USA at this point, Ripple CEO said that the way forward for crypto should focus on solving real problems: