Games like grimgrimoire7/31/2023 ![]() ![]() "There's a much greater focus on the international markets for those firms. is a huge market for the industry, with over 50 million Americans saying they own some crypto, according to a survey conducted by Morning Consult for Coinbase. is a little bit behind right now," he told CNBC. to elsewhere, if the exchange doesn't get regulatory clarity in the U.S.Ī month later, Armstrong said Coinbase "is not going to relocate overseas." In October that year, he said the U.K., Switzerland, Singapore, Japan and the United Arab Emirates were under consideration for Ripple's potential move abroad.Ĭoinbase's chief, meanwhile, suggested at a London fintech conference in April that the firm would consider options of investing more abroad, including relocating from the U.S. Ripple's Garlinghouse has been threatening to move his company's headquarters overseas since 2020. They think this will translate into investors' confidence, overconfidence in some cases, and will encourage further irrational behaviour among investors, e.g. To look confident (even arrogant) is a common tactic of crypto company CEOs. "The biggest fear of crypto companies is that regulation will cause panic among crypto investors and prices will go down. is one of the largest markets for crypto, and hence it is highly unlikely that they will leave," Larisa Yarovaya, associate professor of finance at Southampton University, told CNBC via email. The question is: could they actually leave? It looks pretty unlikely. is getting passed not just by a little bit but by a lot," Garlinghouse said. "I find it as a company that started in the United States and as somebody who is a U.S. When asked for his message to Gensler as the company announced an expansion into Dubai, he quipped, "Who?" before later saying Ripple will have spent $200 million defending itself against a lawsuit initiated by the regulator by the time it is over. writ large."īrad Garlinghouse, CEO of Ripple, also tore into the SEC this week. But he's created some lawsuits, and I think it's quite unhelpful for the industry in the U.S. "I don't think necessarily trying to regulate the industry as much as maybe curtail it. "The SEC is a bit of an outlier here," Armstrong told CNBC's Dan Murphy in an interview in Dubai. He added that Chair Gary Gensler had taken an "anti-crypto view," despite earlier being a supporter of the industry during his time as an economics professor at the MIT Sloan School of Management. politicians concerned that the country may miss out on a key technological innovation.Ĭoinbase CEO Brian Armstrong said last week that the SEC was on a "lone crusade" with its tough actions against certain crypto companies. Personal Loans for 670 Credit Score or LowerĮxecutives at firms including crypto exchange Coinbase and blockchain services company Ripple have piled on with comments laying into the SEC and signaling plans to shift business overseas, in a bid to rally support and send a message to U.S. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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