Why Ripple Embraces Regulations in the Crypto Space
The prospect of increased regulations may have the crypto world reeling, but one Ripple exec says he welcomes any changes.
“There are definitely fraudulent campaigns and projects out there that are trying to take advantage of investor interest in this category,” managing director Danny Aranda told Cheddar.
“Having regulatory clarity for entrepreneurs is a very, very good thing. It gives you a clear state of play, let’s you know what the rules are.”
His comments echo the concerns prompting intensified scrutiny of the space.
Google this week said it will ban ads for cryptocurrencies and other unregulated financial products starting in June in an attempt to combat potential scams. Facebook made a similar decision earlier this year.
But Aranda isn’t worried. He said during Thursday’s interview that, whether controls come from regulators or social media platforms, new rules only help the industry.
“Over the long term, what you’ll see is greater regulatory clarity in the space,” he said. “You’ll see greater acceptance about best practices.
“The markets will become more educated about what are good projects, and that would make everyone more comfortable in the underlying value of these things.”
While it was a volatile week in tech as Meta experienced the biggest one-day drop in the history of the U.S. stock market, industry giant Amazon reported 40 percent growth — largely on the strength of the cloud. Dan Ives, managing director of equity research at Wedbush Securities, joined Cheddar News to break down how the e-commerce company stock managed to pop despite headwinds against its core retail business. "It's all about cloud because of sum of the parts, you could argue, amazon could be $3,500/$4,000 stock just based on cloud," he said. Ives also addressed the apparent the differing impact of Apple iOS changes on Facebook and Snapchat.
Following Ford's earnings miss, the stock price dropped despite a bullish outlook from the auto giant. Karl Brauer, an executive analyst with ISeeCars.com, joined Cheddar to break down why investors may not be sold on the carmaker because of the ongoing factor of supply constraints. "The product is not an issue. There's really good product coming from them, including the electric vehicle side, and the demand is not an issue. There's plenty of demand, but nobody really has a solid grasp on when we're going to get past the supply chain issue," said Brauer.
Image-sharing app Pinterest reported big beats on its Q4 earnings for the top and bottom lines. The social platform surprised investors after seeing a decline in users while earnings and revenue were much higher than expected.
