The post Did Gary Gensler and Elizabeth Warren Purposely Suppress XRP Prices to Buy at a Lower Cost? appeared first on Coinpedia Fintech News
Sean McBride, former Director of Global Talent Acquisition at Ripple Labs recently sat down for a conversation with Ray Fuentes and discussed XRPs growth. A central question raised is whether government entities or the SEC are actively working to influence or suppress XRP’s price. The concern is that these actions might be aimed at altering public perception of XRP and the broader asset class it represents.
When Ray asked, “You think it’s because they (Gary Gensler and Elizabeth Warren) want to buy it at these suppressed prices, or what are your thoughts?” McBride said, “I won’t speculate on that. I’ll let other people do that. But, you know, the fact of the matter is banks and institutions will not take the risk of using an asset when there’s a hostile regulatory landscape.”
According to McBride, banks and financial institutions are unlikely to adopt or use digital assets like XRP in a regulatory environment perceived as hostile. The risk and uncertainty associated with such an environment create significant barriers. Institutions prefer to avoid assets that could expose them to regulatory and legal risks, which might explain why XRP has not seen broader institutional adoption despite its potential.
Institutional Silence and NDAs
McBride suggested that financial institutions might be bound by non-disclosure agreements (NDAs) or other constraints that prevent them from publicly acknowledging their involvement with Ripple or the use of XRP. This secrecy could be a consequence of the ongoing legal and regulatory challenges faced by Ripple, including the SEC’s lawsuit. The lawsuit, combined with political pressure from figures such as Elizabeth Warren, has contributed to the perception that XRP is under attack.
Sean McBride argues that XRP’s technology is actually advanced and ahead of its time. He suggests that the slow adoption of XRP isn’t due to the technology being outdated, but because it’s taking longer for people and institutions to accept and integrate it into their systems.
He finds it unusual and troubling that many government officials, including those he has connections with, are reluctant to discuss or acknowledge XRP and Ripple. Despite his personal relationships with some Congress members and Senators, they refuse to engage with the topic, which he finds strange.