Ripple News: Gary Cardone Says Brad Garlinghouse Failed XRP Investors on ‘60 Minutes’

Ripple CEO Brad Garlinghouse appeared in a recent 60 Minutes interview, which provided exposure for both Ripple and the broader cryptocurrency industry. However, the interview also faced criticism for including comments from John Reed Stark, a vocal critic of crypto, who dismissed it as a scam with no utility. His views align with those of SEC Chairman Gary Gensler, and many felt they were presented without proper counterpoints.

Garlinghouse later took to social media and pointed out that 60 Minutes failed to mention a federal judge’s ruling that XRP is not a security. He also said that the program overlooked the SEC’s legal setbacks and meetings between Gensler and FTX founder Sam Bankman-Fried. These omissions sparked concerns about potential bias in the reporting.

Criticism of Garlinghouse’s Leadership and Strategy

On the Good Morning Crypto Show, Gary Cardone of Cardone Digital Ventures shared his thoughts on Garlinghouse’s appearance on 60 Minutes, saying he’d rather speak his truth than worry about how it’s edited. He pointed out that Ripple paid for the interview, which likely cost millions, and questioned why Garlinghouse would let it be edited in a way that made him look bad. Cardone argued that if Garlinghouse couldn’t control the interview, it raised doubts about his leadership. He also criticized the marketing strategy, saying it failed as an investment.

Cardone admitted that he bought XRP, expecting Garlinghouse to perform better. However, he remains uncertain about holding it long-term. He also mentioned that when he asked Ripple-related questions, he never received answers, particularly about why Ripple doesn’t replicate MicroStrategy’s strategy of buying and holding assets like XRP. 

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Ripple’s Success Amid Controversy

However, despite these issues, Garlinghouse considered the appearance a success for Ripple, as it showed the company’s legitimate use of XRP for cross-border transactions and brought to attention the growing recognition of blockchain technology.