Ripple CEO says project’s transparency has left them open for attack

Ripple CEO Brad Garlinghouse has stated that the reason the company gets “attacked by FUD” is due to its transparent nature.

Garlinghouse hit out at critics last month while affirming that “Ripple is not a security” despite regulatory concerns on a global scale.

This week he added further insight during an interview on Anthony Pompilano’s Off the Chain podcast.

He said: “Ripple is ten or a hundred times more transparent than anyone in the crypto community” before adding that “our transparency has opened us up to attack. Ripple has tried to lead by example”.

Ripple has fallen under intense scrutiny this year over XRP token sales, which have coincided with a dramatic fall in price.

The XRP token is now worth just $0.27 despite reaching $0.50 in June.

However, Garlinghouse revealed that the tokens sold in over-the-counter deals account for just 10 basis points (0.01%) of XRP’s entire daily trade volume.

He went on the claim that Ripple is the “only example of crypto and blockchain used at scale” and that the “XRP ledger was created before the company Ripple existed” by several former Bitcoin engineers.

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