- Charles Gasparino raises concerns about Ripple’s financial capacity to handle a potential $1 billion penalty.
- Moon Lambo highlights Ripple CEO’s statement about the company’s $1 billion reserve.
- Gasparino questions whether Ripple has $1 billion in liquid cash or XRP.
Charles Gasparino, a prominent figure in the crypto industry, recently expressed his views on the Securities and Exchange Commission’s legal action against Ripple through a series of tweets. Gasparino raised concerns about Ripple’s financial capacity to handle a potential $1 billion penalty resulting from the lawsuit. Additionally, he voiced his dissatisfaction with the recent behavior exhibited by the online XRP community.
Renowned crypto influencer Moon Lambo recently discussed the looming billion-dollar penalty that XRP might face from the SEC. Lambo noted that most XRP holders seemed unfazed by this development, as XRP had recently been classified as a non-security digital asset. Additionally, Lambo highlighted Ripple CEO Brad Garlinghouse’s earlier statement, wherein he mentioned that the company had a substantial $1 billion reserve, suggesting it could utilize these funds to settle the fine.
In response to a tweet by Moon Lambo, Fox Business’ Charles Gasparino raised a query regarding Ripple’s financial position. Gasparino sought clarification on whether Ripple possessed $1 billion in liquid cash or held $1 billion worth of XRP, which would need to be sold in the market, potentially leading to diluting the cryptocurrency’s value for retail holders. This inquiry was specifically directed towards Ripple’s management.
Moon Lambo responded to the Fox Business journalist’s question by sharing a video clip of Brad Garlinghouse speaking at the Dubai Fintech Summit in the current year. During his speech at the summit, Garlinghouse disclosed that Ripple possessed $1 billion in cash as part of its financial assets. Furthermore, during a Twitter Space discussion in November of the previous year, Garlinghouse explicitly stated that Ripple had no outstanding debts and had never incurred any debts in the past. He further emphasized that the company held a substantial amount of cash, amounting to $1 billion.
Charles Gasparino, a prominent figure in the crypto industry, expressed his dissatisfaction with the behavior exhibited by the XRP community on Twitter. He noted that their demeanor appeared amicable when he reported favorably on Ripple but turned hostile when he reported unfavorably. However, Gasparino faced criticism from the crypto community for portraying Ripple and XRP negatively after the recent summary judgment.
