Ripple CEO Brad Garlinghouse Advocates for Multichain Representation in Government Crypto Reserves

Sharing his perspective, he stated: “Some thoughts on maximalism… let me say this as clearly as I can.” The executive continued: “The crypto industry has a real shot, here and now, to achieve the many goals we have in common, if we work together instead of tearing each other down.

Ripple CEO Brad Garlinghouse has voiced his support for a government-backed digital asset reserve that would encompass a broad representation of the cryptocurrency industry, highlighting his belief in a multichain ecosystem and disclosing his personal investments in multiple cryptocurrencies.

Via a post on social media platform X on Jan. 27, Garlinghouse shared his perspectives on maximalism and collaboration within the crypto domain.

Emphasizing his stance on the matter, he stated, “Some thoughts on maximalism… let me say this as clearly as I can. The crypto industry has a real shot, here and now, to achieve the many goals we have in common, if we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.”

Elaborating further on his views, Garlinghouse disclosed his belief in a multichain world and his investments in various cryptocurrencies, including XRP, BTC, and ETH. He noted, “I own XRP, BTC, and ETH among a handful of others – we live in a multichain world, and I’ve advocated for a level-playing field, instead of one token versus another.”

He went on to discuss the concept of a government-backed digital asset reserve, expressing his belief that it should reflect the broader cryptocurrency industry. Garlinghouse stated, “If a govt digital asset reserve is created – I believe it should be representative of the industry, not just one token (whether it be BTC, XRP or anything else).”

Furthermore, the Ripple CEO highlighted the role of maximalism in hindering the industry's progress. He noted, “Maximalism remains the enemy of crypto progress, and I'm very glad to see fewer and fewer folks ascribe to this outdated and misinformed thinking,” expressing optimism in the industry's shift toward inclusivity and collaboration.

These statements by Garlinghouse come amidst criticism from individuals such as Pierre Rochard, who has accused Ripple of engaging in anti-lobbying efforts against the Strategic Bitcoin Reserve (SBR).

In a Jan. 23 post on X, Rochard stated, “The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, banks, or Elizabeth Warren. It’s Ripple/XRP. They are aggressively lobbying against the SBR by throwing around $millions at politicians, desperately trying to derail it. They did the same to attack bitcoin mining under the Biden administration. Obviously they want to protect their marketing narratives and push for CBDCs built on their platform.”

In response to these claims, Garlinghouse has dismissed the accusations, asserting that Ripple's endeavors ultimately aim to bolster the broader cryptocurrency ecosystem.

He stated, “Unless you are choosing to ignore the core tenets of the POTUS campaign (which aggressively supports American companies and technologies), our efforts are actually INCREASING the likelihood of a crypto strategic reserve (which includes bitcoin) happening,” highlighting Ripple's role in advancing innovation and industry progress.