Ripple chief executive Brad Garlinghouse says his company remains financially robust despite its exposure to the now-collapsed Silicon Valley Bank (SVB).
Garlinghouse says that SVB was a banking partner and held some of Ripple’s cash balance.
“Fortunately, we expect NO disruption to our day-to-day business, and already held a majority of our USD with a broader network of bank partners.
Obviously, a lot is still unknown about what happens with SVB, and as is the case with many others, we hope to have more details soon – but rest assured, Ripple remains in a strong financial position.
It’s ironic that so much of what’s happening (as some companies scramble to make payroll) highlights how broken our financial systems still are – i.e. wires are still
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