Ripple CEO Garlinghouse Criticizes Strategy's Bitcoin Financing, Calls STRC Discount Signal 'Deeply Negative'

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According to Odaily, Ripple CEO Brad Garlinghouse criticized Strategy and its chairman Michael Saylor's Bitcoin financing approach on Friday (June 24) in a CNBC interview, stating that "financial engineering cannot create long-term value." Garlinghouse specifically pointed to Strategy's preferred stock issuance model, noting that STRC preferred shares have traded at a discount of approximately 25 to 26 percent below their $100 par value, calling this performance a "deeply negative assessment" of the company's strategy.
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