June 3, 2022
Ripple CEO Brad Garlinghouse told CNBC that there is likely to be “scores” of cryptocurrencies that remain in the future.
Garlinghouse implied that most of the cryptocurrencies that exist today are fated to collapse.
Ripple CEO said there’s a question about whether or not we need 19,000 new currencies today.
Comparing with fiat currencies, Garlinghouse said there are only 180 fiat currencies and 19,000 cryptocurrencies.
Earlier, Guggenheim Chief Investment Officer Scott Minerd said that most crypto is junk and only bitcoin and ethereum would survive.
There is a bit of hysteria around cryptocurrencies since Terra LUNA and UST collapsed.
Crypto pioneers believe most cryptocurrencies won’t survive in the long term.