Ripple SVP Says Crypto Winter Is An Opportunity In Disguise

May 26, 2022 12:28 pm Comments

Ripple’s senior vice president Brooks Entwistle was recently interviewed at the World Economic Forum at Davos regarding his thoughts on the company’s current position during the current markets.

He stated that this was not the first time that the crypto industry was in such a position and that things like this will always happen again in the future.

In other words, this is all part of the process and Ripple’s goal during this time is to capitalize on opportunities to expand its network around the world regardless of what happens on the market.

The focus now for the crypto firm is to continue working on its partnerships and establish a larger client base for its On-Demand liquidity service which has continued to see skyrocketing demand from institutional clients.

CoinTelegraph reports:

“This has happened before. It’s going to happen again. And I think for us, we’re building into it. I think it’s an opportunity.”

Entwistle said that Ripple is taking this opportunity to build “around the world.”

Moreover, he offered some advice for the blockchain community, telling people not to focus too much on the current markets and instead put their focus elsewhere.

“In some ways, a lot of this is noise, and we’ve got to reduce the noise and focus on the signal,” he said.

Last week, crypto veterans also gave advice to those experiencing a bear market for the first time. The various suggestions included buying Bitcoin (BTC), managing expectations, lowering expenses and doing nothing.

Many prominent investors in the industry have also been making predictions on possible projected timelines on what will happen for the rest of the year.

The popular comparison is to what happened back in 2017 which was another time where crypto winter had taken effect across the entire industry.

However, many expect this new bearish market to last a much shorter amount of time given the increasing inflation concerns and the increasing popularity of crypto to being used as an alternative asset.

Recently, JPMorgan had even stated that it selected crypto to be the more preferred alternative asset over real estate due to its large potential upside when compared to all other alternative asset options.

TheBharateExpressNews reports:

TBEN Editor-in-Chief Kristina Cornèr interviewed Brooks Entwistle, Ripple’s Senior Vice President (SVP) for Global Customer Success at the World Economic Forum (WEF) in Davos, Switzerland, discussing his time at Ripple and the current “crypto winter” and what market participants should focus on.

According to SVP Ripple, his experience in Ripple gave him the opportunity to explore. Over the past year, Entwistle shared that his team learned more about the industry to “understand what business models work” and what can be improved.

Last week, crypto veterans also gave their advice to those experiencing the bear market for the first time. The advice varied and ranged from buying Bitcoin (BTC), to managing expectations, cutting back on spending, and taking no action.

If anything, opportunities like this certainly do not come too often so it is important to take advantage of it when still possible.

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