- Fox Business’ Charles Gasparino recently questioned Ripple’s ability to pay a potential fine of $1 billion.
- Gasparino also called out the XRP community for its alleged conduct against him for his stance on SEC vs. Ripple.
- Ripple CEO Brad Garlinghouse previously stated that the firm had $1 billion in the bank.
Charles Gasparino, a senior correspondent at Fox Business, recently took to Twitter to air his opinion about the Securities and Exchange Commission’s lawsuit against Ripple. Gasparino questioned Ripple’s ability to pay a potential $1 billion fine associated with the lawsuit and took issue with the recent conduct of the XRP community online.
XRP influencer Moon Lambo recently addressed the matter of the potential billion-dollar fine that XRP may have to pay to the SEC. According to the influencer, most XRP holders were unbothered by this matter given that XRP had recently been declared a non-security crypto asset. Moon Lambo added that Ripple CEO Brad Garlinghouse previously stated that the firm had $1 billion in the bank, so that may be how they pay the fine.
Fox Business’ Charles Gasparino responded to Moon Lambo’s tweet and enquired if Ripple had $1 billion in cash or $1 billion worth of XRP that would have to be market sold at the risk of diluting retail holders of the cryptocurrency. Gasparino’s inquiry was directed at the management of Ripple.
Moon Lambo responded to the Fox Business journalist’s inquiry with a clip of Brad Garlinghouse at the Dubai Fintech Summit this year. While speaking at the summit, Garlinghouse revealed that Ripple had $1 billion in cash on its balance sheet. In a Twitter Space discussion in November last year, Garlinghouse stated, “Ripple has no debt. We’ve never had any debt. We’ve got a billion dollars of cash.”
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Charles Gasparino also complained about the conduct of the XRP community on Twitter. He claimed that their conduct was friendly when he reported in favor of Ripple and hostile when he reported against it. However, the crypto community called him out for displaying Ripple and XRP in a negative light following the recent summary judgment.
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