Brad Garlinghouse, CEO of Ripple, has reportedly surpassed a net worth of $10 billion (approximately 13.9 trillion won) after the announcement of the settlement with the U.S. Securities and Exchange Commission (SEC), drawing significant attention from the cryptocurrency industry. Garlinghouse has been a key figure in driving global XRP utilization and leading blockchain-based financial innovation, with his settlement partially mitigating regulatory risks.
The majority of Garlinghouse's net worth stems from his 6.3% stake in Ripple and XRP holdings. Ripple is a fintech company based on affordable and fast international remittance solutions, with Garlinghouse joining in 2015 and becoming CEO within a year. He subsequently accelerated business expansion by establishing partnerships with major financial institutions like Santander in Spain and SBI Holdings in Japan, effectively broadening XRP's position in the global remittance market and developing Ripple into a core next-generation financial infrastructure company.
His reputation became more widely known during the 2020 SEC lawsuit against Ripple and Garlinghouse for unregistered securities sales. The SEC claimed Ripple raised $1.3 billion (approximately 1.807 trillion won) by selling XRP without treating it as a security. Garlinghouse countered that XRP is being used as a 'digital asset' and 'currency', gaining industry consensus.
The lawsuit continued for nearly five years, but on May 8th this year, Ripple and its executives reached a settlement by agreeing to pay a $50 million (approximately 69.5 billion won) fine to the SEC. Compared to the original claim, this was significantly lower, and the cryptocurrency industry interpreted it as a Ripple victory. Ripple has requested the court to lift the payment refusal order and release escrow funds, with only final court approval remaining.
After the settlement, Garlinghouse appeared before the U.S. Senate hearing, strongly advocating for clear cryptocurrency regulations. He pointed out that regulatory uncertainty is causing blockchain technology and jobs to be exported overseas, citing examples from the UK and European Union (EU), and emphasized that the U.S. should quickly establish practical legislation. He also added that a balanced approach protecting consumers while promoting industry growth is crucial.
Born in Topeka, Kansas in 1971, Garlinghouse obtained an MBA from Harvard Business School and served as a senior executive in the IT industry at companies like AOL and Yahoo. Particularly, his 2006 'Peanut Butter Manifesto' critically addressed Yahoo's strategic shortcomings, creating significant impact and solidifying his reputation for strategic leadership.
Through this event, he has once again emerged as a central figure in blockchain policy debates. While controversies about XRP's legal status continue, Ripple's efforts to build global financial infrastructure and governance-based expansion strategies are gaining more attention under his leadership.
Currently, Garlinghouse also holds some BTC and continues efforts with key industry figures to improve policies. The realization of his 'Internet of Value' vision will also be closely watched depending on potential policy changes under the Trump administration.
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