According to ChainCatcher, Ripple CEO Brad Garlinghouse said in a fireside chat at the Korea Blockchain Week that the company will launch its new stablecoin in "weeks, not months." Garlinghouse also criticized the attitude of Gary Gensler, chairman of the U.S. Securities and Exchange Commission, toward cryptocurrencies, calling OpenSea's experience "regrettable." Ripple's CEO said he is more "optimistic" than ever about the development of cryptocurrencies in the next five years.

When asked about a potential IPO, Garlinghouse said, “The SEC approved Coinbase to go public in the U.S., and now the SEC is suing Coinbase for the same reason. When entrepreneurs ask me about starting a cryptocurrency company, the first advice I give them is: Don’t register your company in the U.S. You will only invite more lawsuits.”