The post Ripple’s Brad Garlinghouse Unveils His Vision: 80% Overseas Hires – How and Why? appeared first on Coinpedia Fintech News
Ripple has made a significant decision to prioritize candidates from outside the United States in its hiring strategy. The company plans to conduct more than 80% of its hiring for this year beyond U.S. borders. This move is motivated by ongoing regulatory challenges with the U.S. Securities and Exchange Commission (SEC) and the recent acquisition of Fortress Trust.
Ripple’s Global Expansion: 80% of Hiring Efforts to Go Beyond U.S. Borders
Ripple, a renowned player in the cryptocurrency industry, is currently undergoing a significant shift in its hiring approach. In light of an ongoing legal dispute with the SEC, the company has now turned its attention to attracting international talent. Ripple has announced that over 80% of its new hires this year will be sourced from outside the United States.
Garlinghouse clearly stated that Ripple’s primary focus for hiring would be on international markets. Specifically, their attention would be directed towards Singapore, Hong Kong, the United Kingdom, and Dubai.
He expressed frustration while highlighting the favorable stance of governments in these regions towards the cryptocurrency industry.
Garlinghouse Future noted,
“It’s super frustrating that you see markets like we have here in Singapore, where governments are partnering with the industry, providing clear rules, and you’re seeing growth. That’s why Ripple is hiring there.”
Ripple’s Endless Clash with Gary Gensler’s SEC
This action eventually becomes perceived as a response to the regulatory challenges that Ripple has faced on its home ground. Specifically, it addresses the concerns arising from the leadership of SEC Chair Gary Gensler.
Garlinghouse expressed his frustration with Gary Gensler’s regulatory approach. He vividly expressed his sentiment by comparing Gensler to a hammer, suggesting that every issue is seen as a nail in his hands.
This statement reflects the ongoing struggle between Ripple and the Securities and Exchange Commission (SEC) regarding the classification of XRP.
Ripple Strengthens Security Measures with Fortress Trust Acquisition
Ripple is making waves in the industry, not only by adjusting its hiring strategy but also through its recent acquisition of Fortress Trust, a trusted crypto custodian service.
Eventually, Fortress Trust encountered a significant breach in their security, leading to the compromise of certain customer funds. Taking swift action, Ripple promptly intervened to assist affected customers by reimbursing the lost money and ensuring their financial well-being.
Ripple demonstrates its adaptability to the changing regulatory landscape in the United States by expanding its pool of talent beyond national boundaries. The acquisition of Fortress Trust remains a crucial component of their strategic approach.
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