There's a new player in the cryptocurrency space. Ripple XRP is now up more than 90 percent over the past couple days. Ripple CEO Brad Garlinghouse explains what drove the growth of this digital asset.
Garlinghouse says it is critical to understand the ultimate value of an asset will be dictated by the value and utility it creates. So if you are solving a real problem for customers at scale you will have a lot of demand.
The excitement around cryptocurrency is separating the signal from the noise says Garlinghouse. He says its important to recognize the reality in solving a real problem with real customers. Ripple is using blockchain technology to solve a cross-border payments problem says Garlinghouse.
Stocks opened higher Thursday boosted by higher-than-expected earnings from Salesforce and as Wall Street looks to extend a late-summer winning streak.
The Biden administration will propose a new rule Wednesday that would make 3.6 million more U.S. workers eligible for overtime pay, reviving an Obama-era policy effort that was ultimately scuttled in court.
