Brad Garlinghouse, the CEO of Ripple, believes that Dogecoin (DOGE), the popular meme token, does not contribute to the overall development of the cryptocurrency industry. Speaking at the Consensus conference, Garlinghouse expressed his concerns about the lack of regulatory clarity in the United States and the unpredictable timeline for institutional investors to enter the crypto market.
Garlinghouse emphasized the importance of focusing on solving real-world problems rather than engaging in speculative activities. Although he stated that he is not against Dogecoin, he questioned its use case and whether it is being utilized to solve practical issues. In contrast, he highlighted the numerous projects across different blockchain networks that offer real utility.
At the time of writing, DOGE is trading at $0.159, experiencing a slight decrease in value over the past 24 hours.
Ripple recently made headlines by donating an additional $25 million to Fairshake, a political action committee (PAC) that supports pro-crypto candidates during elections. This contribution follows a previous $25 million donation made by the San Francisco-based payments firm to the super PAC last year.
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