📣 Ripple Is Doing "a Lot Less" Hiring in US, Garlinghouse Says
During his Thursday appearance at Fortune's flagship Brainstorm Tech summit, Ripple CEO Brad Garlinghouse said that 75% of the company's hiring had been non-US over the past two years. "That's a sad reality," he added.
He has admitted that the fact the company is offering high-paying jobs outside the U.S. is "sad." With that being said, Garlinghouse has added that Ripple is still growing in the U.S.
Garlinghouse claims that 95% of Ripple's clients are not from the U.S., stressing the importance of customer centricity.
He has also revealed that Ripple had to deal with a high level of employee turnover after it got sued by the U.S. Securities and Exchange Commission back in December 2020. However, Ripple managed to secure record growth numbers after that because it went outside the U.S. "The products we are selling, the solutions we are enabling are very global," he explained.
The Ripple boss has once again lamented the lack of regulatory clarity in the U.S. "You go to where there is clarity," he stressed. He has also named such examples of cryptocurrency-friendly countries as Japan, Singapore, and the UK while arguing that the U.S. is way behind them when it comes to cryptocurrency regulation.
He has reiterated that the current SEC leadership will be viewed as Luddites in the future.
During his appearance at the summit, Garlinghouse has also stressed that cryptocurrencies should not be a partisan issue while taking aim at Elizabeth Warren, the Senator from Massachusetts. Warren has frequently attracted criticism from the industry due to her anti-crypto comments and legislative efforts.
"Essentially only in the the US is this even an issue...Elsewhere, folks from the public & private sectors start out by talking about how profound these technologies are and how they can improve existing systems. Let's strive for that (as we have seen in many countries) instead of partisan BS," Garlinghouse said in a post on the X social media.