On September 12, in an interview with CNN, Brad Garlinghouse, who is the CEO of Ripple, rejected outright recent allegations that his company has been manipulating the price of the popular digital currency.
Garlinghouse began the discussion with anchor Julia Chatterley by praising the network's coverage of cryptocurrencies, which has described how the currencies can be used for good. The two then discussed the accusation, which has been made by people in the Ripple community, that the company is dumping the currency onto the market. This accusation has led some to threaten a takeover of the currency through a hard fork of it.
Garlinghouse's response to all this was that dumping the currency onto the market would be against their best interest, as they are largest owner of the currency and hence would have the most to lose through such an action. He added that Ripple was instead interested in developing both a healthy and successful ecosystem for the currency, as this is what is in their best interest.
Previously, Garlinghouse indicated that the currency sales his company has made were done as means of expanding the currency's value. He also insisted that the company has been decreasing its sales of the currency.
During the CNN interview, Garlinghouse went on to say that his company is not even in a position to control to the price of the currency. He said that they could not control it any more than a significant owner of Bitcoin could affect its price.
The interview touched on more than just alleged price manipulation. Garlinghouse also explained exactly what Ripple is and how it works. He further expressed his belief that the long term value of a cryptocurrency is directly tied to the value it provides. He added that a Ripple transaction is not only 1,000 faster than a comparable Bitcoin transaction, but that it is also 1,000 time cheaper as well, which makes it a far better payment solution than Bitcoin.