Ripple CEO says Michael Saylor has hurt crypto market as Strategy’s STRC trades 25% below par
The Block·
60-second summary
Ripple CEO Brad Garlinghouse criticizes Michael Saylor's financial engineering approach, stating it doesn't drive long-term value, instead emphasizing utility. Garlinghouse believes the long-term value of digital assets will be driven by their utility, not financial engineering. This stance has significant implications for the crypto market, where strategy and utility are increasingly being reevaluated by investors.
"Financial engineering does not drive long-term value ... long-term value of any digital asset is going to be driven by utility," said Garlinghouse.