Mar 13, 2023
Ripple CEO Reassures Followers of Stability Amid SVB Exposure
Ripple CEO Brad Garlinghouse recently took to Twitter to provide reassurance to his followers regarding the company’s financial stability. He addressed questions about Ripple’s exposure to Silicon Valley Bank (SVB) and stated that “we expect NO disruption to our day-to-day business, and already held a majority of our USD w/ a broader network of bank partners.”
Garlinghouse’s tweet thread was met with positive reactions from users, with one user writing, “I never doubted you or @Ripple to have taken proper risk management. Thank you for the statement.”
Ripple CTO David Schwartz had previously promised that the company would release a statement on its Ripple exposure “shortly.”
The Federal Reserve also announced a $25 billion funding program to assist banks with liquidity during times of financial stress, and stated that all depositors of Silicon Valley Bank will have access to all of their money starting Monday, Mar. 13.
The price of Ripple’s XRP (XRP) dropped from a high of $0.40 to a low of $0.35 on Mar. 12 before recovering.
Ripple is currently engaged in a legal battle with the United States Securities and Exchange Commission over the status of their XRP cryptocurrency, but the company has seen record business and customer growth in 2022. Garlinghouse believes the case will be resolved in June.
As Ripple continues to grow, NFTs have become an increasingly popular way to promote the company and its products. NFTs are digital assets that are unique, non-fungible, and can be traded or exchanged on the blockchain. NFT marketing is a great way to reach a wide audience and create hype around your brand.
Ripple has been using NFTs to promote its products, including a recent campaign on Twitter that featured a series of NFTs. This campaign was a great way to engage with the web3 community and increase awareness of Ripple’s offerings.
Ripple has also been working with a web3 agency to help them with NFT promotion and marketing. The agency has been helping Ripple create and implement a comprehensive NFT marketing strategy, including creating custom NFTs, developing a marketing plan, and executing campaigns to drive sales of NFTs.
Ripple’s success with NFTs is a testament to the power of NFT marketing. With the help of a web3 agency and a well-crafted NFT marketing strategy, Ripple has been able to successfully promote its products and increase its visibility in the crypto space.
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