Mason Versluis1.5 Million+ Creator, Founder, Investor

Ripple Had Money In Silicon Valley Bank! BAD NEWS!

Name: Ripple Had Money In Silicon Valley Bank! BAD NEWS!
Uploaded: 2023-03-12T22:30:46+00:00
Duration: 54 s
Channel: Mason Versluis
Description: In this commentary, the speaker reports that Ripple’s CEO Brad Garlinghouse confirmed the company had cash deposited at the now‑failed Silicon Valley…

12 Mar 2023 · 1 min

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In this commentary, the speaker reports that Ripple’s CEO Brad Garlinghouse confirmed the company had cash deposited at the now‑failed Silicon Valley Bank (SVB). While Ripple did have some exposure, Garlinghouse says the majority of Ripple’s cash is held across a broader network of banks, so day‑to‑day operations should remain uninterrupted. The speaker recalls Garlinghouse’s earlier claim that Ripple was building a large cash reserve to weather a bear market and potential corporate failures. Contrasting Ripple’s continued hiring with industry‑wide layoffs, the speaker concludes that the SVB collapse will not significantly affect Ripple or the XRP token.

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Well, this is bad for Ripple and XRP. Ripple CEO Brad Garlinghouse has confirmed that they did in fact have exposure to the bank that just failed, Silicon Valley Bank. They actually held some of Ripple's cash balance. They said, fortunately, we expect no disruption with our day-to-day business and already held a majority of their cash balance with a broader network of bank partners. I do not forget anything in the crypto space, and I remember when Brad Garlinghouse said that they're preparing for the bear market with a massive cash balance because they expected a lot of companies to fail and crumble. But Ripple does not fail and crumble. In fact, when everyone else was laying off employees, Ripple was still hiring. So fortunately, this will not faze Ripple. This will not affect them too badly or XRP at all.