{"id":562888,"date":"2023-03-13T02:42:44","date_gmt":"2023-03-12T23:42:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ripple-ceo-assures-strong-financial-position-despite-svb-collapse\/"},"modified":"2023-03-13T02:42:44","modified_gmt":"2023-03-12T23:42:44","slug":"ripple-ceo-assures-strong-financial-position-despite-svb-collapse","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ripple-ceo-assures-strong-financial-position-despite-svb-collapse\/","title":{"rendered":"# Ripple CEO assures \u2018strong financial position\u2019 despite SVB collapse"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a245e5a0a03e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a245e5a0a03e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ripple-ceo-assures-strong-financial-position-despite-svb-collapse\/#%E2%80%9D_Ripple_CEO_assures_%E2%80%98strong_financial_position_despite_SVB_collapse_%E2%80%9C\" >&#8221; Ripple CEO assures \u2018strong financial position\u2019 despite SVB collapse &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ripple_CEO_assures_%E2%80%98strong_financial_position_despite_SVB_collapse_%E2%80%9C\"><\/span>&#8221; Ripple CEO assures \u2018strong financial position\u2019 despite SVB collapse &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvMDQ3OTdhYmYtNzMyMS00OTczLWE4ZTUtYWM3ODBlMDUwNjNlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Ripple CEO Brad Garlinghouse took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Mar. 12 to discuss the company\u2019s exposure to Silicon Valley Bank (SVB) and reassure his followers of Ripple&#8217;s stability.\u00a0<\/p>\n<p>Ripple had exposure to SVB, Garlinghouse said, but \u201cwe expect NO disruption to our day-to-day business, and already held a majority of our USD w\/ a broader network of bank partners.\u201d<\/p>\n<p>His short tweet thread was intended to reassure users. \u201cRest assured, Ripple remains in a strong financial position,\u201d he tweeted.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Setting the record straight on SVB Qs: <\/p>\n<p>Ripple had some exposure to SVB \u2013 it was a banking partner, and held some of our cash balance. Fortunately, 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.<\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1635026527976054784?ref_src=twsrc%5Etfw\">March 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Garlinghouse did not specify the amount of cash the company had in SVB.<\/p>\n<p>Many Twitter users responding to the thread reacted positively to the statement:<\/p>\n<p>\u201cI never doubted you or @Ripple to have taken proper risk management,\u201d one user wrote. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I never doubted you or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Ripple?ref_src=twsrc%5Etfw\">@Ripple<\/a> to have taken proper risk management.  Thank you for the statement.<\/p>\n<p>\u2014 EarthAngel.XRP\u2600\ufe0f (@EarthAngel_Xrp) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EarthAngel_Xrp\/status\/1635030880820539392?ref_src=twsrc%5Etfw\">March 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ripple chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer David Schwartz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JoelKatz\/status\/1634726962278305792?\">had promised on Mar. 11<\/a> that the company would release a statement on its Ripple exposure \u201cshortly,\u201d although it is not clear that the Garlinghouse tweet was what he had in mind.<\/p>\n<p>Hours later, the Federal Reserve announced it had established a funding program of $25 billion to assist banks with liquidity during times of financial stress.\u00a0<\/p>\n<p>In another announcement, the Federal Reserve also noted that all depositors of Silicon Valley Bank will have access to all of their money starting Monday, Mar. 13.\u00a0<\/p>\n<p>&#8220;No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,&#8221; it added.\u00a0<\/p>\n<p><strong><em>Related: Ripple survey: 97% of payment firms believe in the power of crypto<\/em><\/strong><\/p>\n<p>Schwartz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JoelKatz\/status\/1634344801515737088?s=20\">commented<\/a> on March 10, \u201cI still don&#8217;t understand how a run on a bank can cause it to become insolvent. If the bank was solvent before, that means its assets exceed its obligations. [\u2026] They probably would have become solvent against [sic] as their 10 year treasuries matured. But they didn\u2019t get that opportunity due to a run.\u201c<\/p>\n<p>The price of Ripple\u2019s XRP (XRP) dipped from a high of $0.40, rising against market trends, on Mar. 9 to a low of $0.35 on Mar. 12 before recovering. <\/p>\n<p>Ripple is engaged in a legal battle with the United States Securities and Exchange Commission over the status of their XRP cryptocurrency, but a Ripple executive called 2022 \u201crecord year of business and customer growth\u201d for the company. Garlinghouse said in January that he expected to see the case resolved\u00a0in June. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ripple-ceo-assures-strong-financial-position-despite-svb-collapse\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ripple CEO assures \u2018strong financial position\u2019 despite SVB collapse &#8220; Ripple CEO Brad Garlinghouse took to Twitter on Mar. 12 to discuss the company\u2019s exposure to Silicon Valley Bank (SVB) and reassure his followers of Ripple&#8217;s stability.\u00a0 Ripple had exposure to SVB, Garlinghouse said, but \u201cwe expect NO disruption to our day-to-day business, and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":562889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/04797abf-7321-4973-a8e5-ac780e05063e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74888,117,33355],"class_list":["post-562888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-banking","tag-business","tag-silicon-valley"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/562888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=562888"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/562888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/562889"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=562888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=562888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=562888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}