thecoinrepublic.com
• CEO Garlinghouse, in an interview, clarified that dumping XRP is not in the company’s best interest.
•Ripple open to new ideas for their escrow holdings.
•47.8 billion XRP still in Ripple’s escrow
Brad Garlinghouse, the CEO of Ripple, was interviewed on Thinking Crypto, a YouTube channel famous for providing valuable insights on the crypto community.
Garlinghouse Shares his Views on Ripple’s XRP Escrows
Garlinghouse, in the hour interview, discussed the SEC Ripple lawsuit, Gary Gensler as the new SEC chairman, Ripple ODL, XRP adoption, and so much more. On being asked whether Ripple plans to burn or distribute their Ripple Escrow holdings, the CEO replied that the crypto company would apply the best way to deal with the massive XRP trove. Although he didn’t say no to either of the two options, he clarified that Ripple has no intentions of dumping its crypto assets on the open market.
Ripple Won’t Dump XRP in Open Market
He said that many people relate to the XRP escrow with dumping XRP in the community. He explained that it made no sense to dump XRP because it would do no good to the XRP ecosystem. Hence, dumping XRP is not the best viable solution to the escrow holdings. Moreover, the main motive towards the escrow was to provide more transparency.
Ripple holds more than half of the total XRP that is in circulation. However, back in 2017, Ripple decided not to sell all its XRP at once. Instead, it decided to lock up 55 billion XRP into several escrows. The company currently holds 6.8 billion XRP, and approximately 47.8 billion XRP are still locked up in escrows as per its website.