Ripple CEO Slams SEC and Chair Gensler’s Approach
Ripple CEO Brad Garlinghouse took a swipe at the United States Securities and Exchange Commission (SEC), labeling it as “very hostile” in an interview at the World Economic Forum. Garlinghouse specifically criticized SEC Chairman Gary Gensler, calling him a “political liability” and asserting that the regulatory approach to the crypto industry isn’t effective. Ripple, known for XRP, faced a legal battle with the SEC in 2020, with Garlinghouse expressing dissatisfaction with Gensler’s repeated legal strategies.
AI Dominates Discussions at World Economic Forum
At the annual meeting of the World Economic Forum in Davos, industry and government leaders gathered for a crucial discussion on artificial intelligence (AI). The panel emphasized AI’s transformative potential across society, business, and government, highlighting the need for responsible regulation. Leaders from various sectors stressed the urgency of embracing AI to remain competitive globally, citing its impact on industries, including its potential applications in warfare.
JPMorgan CEO Dimon Criticizes Bitcoin
Bitcoin faced criticism from JPMorgan Chase CEO Jamie Dimon at the World Economic Forum. Dimon dismissed Bitcoin as a “pet rock” and claimed it “does nothing.”
Despite recent spot Bitcoin ETF launches, Dimon expressed ambivalence towards competitors embracing Bitcoin, stating that he won’t discuss Bitcoin on the network again. The remarks contributed to a dip in BTC price to $42,400 as the cryptocurrency struggled to sustain support.
Salvadorans’ Bitcoin Usage Declines, Survey Reveals
A survey by José Simeón Cañas Central American University in El Salvador indicated a decline in the usage of Bitcoin among the local population. In 2023, 12% of respondents reported using Bitcoin for purchases, a decrease from the 24.4% reported in 2022. The survey showcased that the majority of Bitcoin transactions were for groceries and supermarkets. Additionally, the survey reflected a shift in public opinion, with a significant percentage expressing a desire for the government to cease spending public money on Bitcoin.
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