According to U.Today, Ripple CEO Brad Garlinghouse revealed during his appearance at Fortune's Brainstorm Tech summit that 75% of the company's hiring over the past two years has been outside the United States. Garlinghouse described this as a 'sad reality,' acknowledging that high-paying jobs are being offered internationally rather than domestically. Despite this, he noted that Ripple continues to grow within the U.S.
Garlinghouse emphasized that 95% of Ripple's clients are based outside the U.S., highlighting the company's global customer base. He also mentioned that Ripple experienced significant employee turnover following its lawsuit with the U.S. Securities and Exchange Commission (SEC) in December 2020. However, the company achieved record growth by expanding its operations internationally. 'The products we are selling, the solutions we are enabling are very global,' he explained.
The Ripple CEO criticized the lack of regulatory clarity in the U.S., pointing to countries like Japan, Singapore, and the UK as examples of cryptocurrency-friendly environments. He argued that the U.S. is lagging behind these nations in terms of cryptocurrency regulation and predicted that the current SEC leadership would be viewed as outdated in the future. Garlinghouse also stressed that cryptocurrencies should not be a partisan issue, taking aim at Senator Elizabeth Warren for her anti-crypto stance. He urged for a more collaborative approach between the public and private sectors to recognize the potential of these technologies to improve existing systems.