Ripple CEO blasts $11 billion gold transfer
TheStreet
Last updated: September 8, 2026
Ripple CEO Brad Garlinghouse has criticized the global financial system for its inefficiencies in asset transfer, specifically highlighting the slow movement of gold. He made these remarks in response to a significant gold transfer, suggesting that such transactions could be significantly faster and more efficient with modern technology.
- The CEO's critique points to the inherent delays and costs associated with traditional financial infrastructure when dealing with high-value assets. He implied that existing systems are outdated and not optimized for the speed demanded by contemporary markets.
- Garlinghouse specifically referenced a recent $11 billion gold transfer as an example of how cumbersome and slow these processes are. He suggested that blockchain technology or similar innovations could revolutionize such transactions, making them near-instantaneous and less expensive.
- The core of his argument is that the current financial establishment is lagging behind technological advancements, hindering the smooth and rapid flow of capital and assets globally. This inefficiency, he believes, impacts various sectors and large-scale transactions, including those involving commodities like gold.
