Ripple CEO Brad Garlinghouse tweeted his thoughts on the recent cryptocurrency market rout, arguing that the market may shrink in the near term.
Still, Garlinghouse remains bullish on the long-term outlook. He believes that cryptocurrencies will eventually become an integral part of the financial system. He said that Ripple is one of the established crypto companies that has successfully weathered previous bear market downturns by having experienced executives and focusing on long-term and transparent operations.
While many crypto companies have halted hiring or started laying off workers, Ripple said it will be able to increase its workforce during the bear market after gaining a large cash balance.