? Ripple CEO Claims the SEC Aided Ethereum in Getting Ahead of XRP in Terms of Market Cap

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Ripple CEO Claims the SEC Aided Ethereum in Getting Ahead of XRP in Terms of Market Cap

Brad Garlinghouse, the CEO of Ripple, has claimed that regulatory clarity received by Ethereum from the U.S. Securities and Exchange Commission has allowed it to surpass XRP.

While addressing the DC Fintech Week virtual conference on October 21, Garlinghouse said, “Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped.”

The Ripple CEO also added that market forces are supposed to determine winners and losers instead of regulators.

Back in December 2017, XRP was the second-largest cryptocurrency by market capitalization. But ever since, Ethereum has held the second position, and XRP has slipped down.

Garlinghouse also said that there is a lack of regulatory clarity in the United States. He added further that his company has not signed any new customers in the U.S. due to regulatory issues; however, this has not stopped them from expanding globally.

Intel CEO Says Chip Shortage Will Last Until 2023

The current shortage of chips globally will be a problem for much longer, according to Pat Gelsinger, CEO of Intel.

During the company’s third-quarter earnings, the CEO said that he expects the chip shortage to extend until at least 2023.

“We’re in the worst of it now; every quarter next year, we’ll get incrementally better, but they’re not going to have supply-demand balance until 2023,” said Gelsinger.

This less optimistic outlook comes as the company announced a 2 percent fall in revenue for the Customer Computing Group- its unit that produces desktop and laptop chips, which led to a 5 percent fall in laptop sales.

The company attributed this drop in sales and revenues, saying there are not enough parts for companies to go around.

Intel said that they have seen this pattern in other reports, and also analysts have already underlined shortages of components as an important factor in the recent slowdown of laptop sales.

Google is Expanding Work Profile Feature on Android Devices

The Work Profile tool of Google for Android, which allows you to hide your work apps and data, will be available to more users by next year.

Currently, the tool is only available to those Android devices which are managed by an organization through enterprise mobility management (EMM) software.

When you flip the switch, any work-related apps that have been installed on your phone cannot send you notifications and access your location.

It also hides the data from your personal apps and ensures that your company’s IT department can’t access your personal information.

Starting 2022, Google will roll out the feature to Workspace users, and it then also plans to make it available to other identity providers.

Google says that the feature will ultimately allow anyone using Android for business purposes to separate work and personal apps in one interface and hide all work-related apps with just one click.

Expanding the feature will be of great help to business owners and freelancers, but any person can benefit from having a better work-life balance.

FinTech Brex Raises $300 Million to Gain Decacorn Status

U.S.-based fintech, Brex, a startup that offers credit cards and cash management solutions for its customers to save and spend money, has raised $300 million in its latest funding round.

The news has not been made public as of October 22. However, according to the sources who wished to remain anonymous, a term sheet has been already signed.

The latest funding round has turned Brex into a “decacorn,’ taking the valuation of the company to $12.3 billion.

The lead investor of the latest funding round of Brex is said to be Greenoaks. The round also saw participation from previous investors who want a bigger stake in the company after witnessing its growth over the years.

Founded in 2017 by Henrique Dubugras and Pedro Franceschi, Brex is a fintech company that is built around offering cash and credit card management accounts to tech organizations.

The company also offers cutting-edge spend-management software along with other bank-related offerings. Its clientele includes some big companies like Carta, Airbnb, among others.

Around The Web

? Snapchat Blames iOS Ad Tracking Changes For Revenue Loss: While announcing its company third-quarter earnings on October 21, Snap CEO Evan Spiegel, said that the company has missed its revenue targets due to a few important factors, which include changes to advertising tracking on iOS and macroeconomic factors of its advertising partners.

? Tech Startup Mesh++ Raises $4.9 Million: Mesh++, a U.S.-based tech startup that builds self-powered routers that run an efficient mesh networking protocol, has raised $4.9 million in seed funding. The round was led by World Within and included participation from new investors Lateral Capital, Anorak Ventures, First Leaf Capital, and existing investors SOSV, GAN Ventures, TechNexus, and Illinois Ventures.


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