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Brad G talks


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7 minutes ago, RandyMarsh said:

Well that was entertaining, I can only imagine how frustrating some of those questions were for him but he did a pretty good job keeping it together and delivering the facts.

This was a good talk. There are a few things that he reinforced. Most of that is available on quarterly reports and is also public knowledge of course…

TLDR; for those who don’t want to listen to the whole thing.

  • Ripple’s valuation doesn’t include XRP and will likely never include it. This was known of course but he specifically said it is marked to market at zero. 
  • XRP sales are only to their customers - i.e. not to the public markets, again well known.
  • XRP sales are recognised as revenue, and this is a significant portion of their total revenue. 
  • They buy back most of the XRP they sell. There was a question of “isn’t this market manipulation” where he started to explain why it isn’t manipulation but then got pissed off for being interrogated when he was invited to give his thoughts on FTX.
  • If you see the quarterly report, Ripple’s sales are around 0.46% of total quarterly XRP volume or something. Q3 was $300M net, which is chump change.
  • For the first time, I have heard Brad express his views publicly on Lublin and ConsenSys and the whole hypocrisy of it.
  • He emphasised how Ripple, as a private company, doesn’t need to be transparent about anything but they still chose to be since 2017/2018.
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