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Cryptocurrency: in Davos, the CEO of Ripple (XRP) expresses his desires for development

Buyer – Ripple (XRP) showed his strength in his legal battle against the SEC. It is now displaying its financial strength by publicly disclosing its ambitions in terms of buying and merging with other companies.

Ripple in the race for mergers and acquisitions

Ripple CEO, Brad Garlinghouse, shared his insights into the evolution of the cryptosphere during an interview at the World Economic Forum in Davos. He also did not fail to underline, on this occasion, the ” very solid balance sheet by Ripple.

Brad Garlinghouse believes that the number of mergers and acquisitions will increase the cryptocurrency industry. And Ripple is currently in “a stage of growth” which makes it believe that the company will, within this framework, “ more likely to be the buyer than the… seller “.

According to PwC, the value of cryptocurrency mergers and acquisitions transactions topped $55 billion in 2021, up from $1.1 billion in 2020.

This explosion of mergers and acquisitions last year took place alongside the bullish rally in the crypto markets, with a Bitcoin (BTC)) reaching an all-time high in November 2021.

Crypto winter has set in in 2022, however, with Bitcoin continuing to swing back and forth across $30,000 for several days.

2022 is therefore far from being as favorable for crypto businesses as 2021. But the first quarter of 2022 still saw the acquisition of Fairx Exchange by Coinbase in January 2022, and from Dharma Labs by OpenSea, the same month.

The rise in mergers and acquisitions mentioned by Brad Garlinghouse would therefore be, in his words, “likely in the future”, but will probably not happen. in the current bearish environment cryptocurrencies.

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FTX won’t let it go

Ripple isn’t the only company looking to grow through mergers and acquisitions. The president of the US branch of FTX, Brett Harrison, also recently stated that the exchange “ will search the market for merger and acquisition opportunities “.

To carry out such a strategy, FTX US would currently benefit from“a very good position in terms of capital and liquidity”.

FTX.US is keen on companies that can help it grow its customer base, or obtain regulatory licenses.

Ripple thus continues to have an optimistic view of the future despite the bearish context and its legal tussle with the SEC. Brad Garlinghouse wants to grow his business by conquering new markets such as Lithuaniaand by making purchases and acquisitions if necessary.

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