Ripple CEO Brad Garlinghouse blasted Facebook’s proposed Libra digital currency this week and boasted of owning roughly $15b of crypto currency XRP.
Ripple, which offers technology that facilitates real-time settlements between banks, is striking more than 30 deals a quarter with financial institutions, according to Garlinghouse. The firm also owns roughly $15 billion of the cryptocurrency XRP, the third highest valued digital asset after Bitcoin and Ethereum. That number fluctuates widely based on the speculative price of the cryptocurrency. Garlinghouse said Ripple has more than $305 million in cash in the bank, which he said was equivalent to the company's most recent valuation. “We don’t need to raise capital,” he said.