Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Ripple plans to expand its workforce in the upcoming months. However, the United States is not a market it will engage with.
In the following sections, we will identify the locations that will experience this growth.
Ripple to Enhance its Footprint in Asia and Europe
The pro-XRP attorney John Deaton mentioned that he has insider knowledge indicating that Ripple will recruit additional staff in Dubai, Singapore, and London. He asserted that this information originated from the company’s CEO, Brad Garlinghouse.
Many users on X (formerly Twitter) believe this strategy is logical due to the regulatory ambiguity in Ripple’s home country – the USA – and the challenges the firm faces with the local securities authority.
Related Posts
The well-known trader, known as KALEO, humorously remarked that the company has opted to expand in other regions because the low unemployment rate in the largest economy makes it “impossible to find a good American employee who needs a job.”
Garlinghouse recently noted that over 80% of the company’s hiring this year will occur in countries where “governments are collaborating with the industry, and you’re seeing leadership, they’re providing clear regulations, and you’re witnessing growth.” He highlighted Singapore, Hong Kong, Dubai, and the United Kingdom as examples.
The Ripple v SEC Lawsuit Significantly Influences Decisions
It is reasonable to conclude that one reason Ripple is focusing on global expansion rather than the US is the ongoing legal dispute with the SEC.
The cryptocurrency firm achieved a significant but still partial victory against the regulator in mid-July when the court determined that Ripple’s sale of XRP did not amount to an offer of investment contracts. Unsurprisingly, this served as a major catalyst for the asset’s price.
However, the SEC expressed dissatisfaction with the ruling and formally filed an appeal at the beginning of September. Some speculate that the Commission’s appeal may ultimately fail, suggesting that Ripple could secure a definitive victory, which would likely drive XRP’s price upward again. KALEO is among those who have shared this perspective.
SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
