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In his recent tweet, Brad Garlinghouse, the chief executive officer at the Ripple blockchain heavyweight, has invited the XRP community to join him at an approaching event — XRPL Apex 2025, which is scheduled to take place in Singapore in two months and one week from now, on June 10-12.

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Garlinghouse on keynote speakers' list

According to the website of the blockchain conference that annually attracts a large number of XRP enthusiasts and speakers, Brad Garlinghouse will be one of the keynote speakers at this conference. Along with him, this short list includes Ripple chief technology officer (CTO) and co-creator of XRP Ledger, David Schwartz, Ripple President Monica Long, and president of XRPL Commons David Bchiri.

Addressing the XRP community, the Ripple CEO tweeted: “Looking forward to seeing many of you at @xrplapex in Singapore this June 10-12!”

Looking forward to seeing many of you at @xrplapex in Singapore this June 10-12! https://t.co/5QAxezqxU3

— Brad Garlinghouse (@bgarlinghouse) April 3, 2025

Ripple CEO highlights surprising U.S. crypto data

Earlier this week, as U.Today reported, Brad Garlinghouse revealed a surprising statistic about cryptocurrency ownership in the U.S. The report highlighted by Garlinghouse had been published by the National Cryptocurrency Association (NCA).

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According to the data revealed in it, a staggering 21% of American citizens hold cryptocurrencies. What's more, 75% of those U.S. holders admitted to seeing a positive impact on crypto on their lives. Garlinghouse then stressed the importance of the existence of such organizations as NCA, saying that they are “spotlighting the practical, everyday use cases possible through crypto.”

According to the aforesaid report, 70% of the above-mentioned U.S. holders are men. They are professionally engaged in areas such as construction, technology and finance. More than half of the holders are millennials, while only about 15% are over 55.

Surprisingly, roughly 39% of the total number of holders have used crypto to pay for purchases. The majority (52%), however, does not go beyond investing in crypto and is just sitting on it, while about 15% have used crypto assets for purchasing real estate and other property. The survey also revealed that approximately 73% of respondents are eager for the U.S. to become a global leader in the crypto space. They likely support the steps of U.S. President Trump taken in this direction — the creation of the Strategic Bitcoin Reserve, with nearly 100,000 BTC in it already.

The Ripple CTO recently responded to a researcher’s claim that XRP is the “biggest financial scam” the world has ever seen over low DEX volume.
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A discussion has emerged within crypto circles after analyst Aylo criticized XRP, calling it the largest financial scam in history. His criticism centered on the claim that XRP had produced little value despite reaching a massive $140 billion market capitalization.
Ripple CTO Responds to Low DEX Volume Claims
Aylo, who conducts research for blockchain resource Alpha Please, pointed to data suggesting that the XRP Ledger (XRPL) had only $44,000 in decentralized exchange (DEX) volume over a 24-hour period. 

Particularly, he shared a snapshot from DeFiLlama to support his argument, emphasizing that such a low volume was uncharacteristic for an asset with XRP’s market size.
He further noted that the XRPL’s total value locked (TVL) stood at just $80.63 million, significantly lower than that of leading blockchain networks with established decentralized finance (DeFi) ecosystems. His comments triggered discussions about the actual utility of XRP and its network.
Amid the discussion, Ripple’s Chief Technology Officer, David Schwartz, responded to Aylo’s assertion. He clarified that the specific data referenced likely only accounted for Automated Market Makers (AMMs) on the XRPL. 

Since AMMs represent just a fraction of the network’s usage, he suggested that the quoted volume did not reflect the full scope of XRP’s utility.

For context, XRP integrated AMM functionality recently, specifically last March. Despite being a decade-old network, XRPL had only recently pivoted toward DeFi, incorporating NFTs, AMMs, and stablecoins. This relatively new adoption has resulted in a DeFi ecosystem that remains underdeveloped compared to competitors.
dUNL Validator Counters with Higher Volume Figures
Vet, a dUNL validator, dispelled Aylo’s claim by presenting alternative volume figures. According to Vet, the actual 24-hour DEX volume on XRPL was around $9 million, not $44,000. 

Interestingly, he claimed that this lower volume compared to other blockchains presents an opportunity for market participants to leverage the XRPL’s growing DeFi ecosystem, which has hosted over 6 million wallets with minimal competition.
Responding directly to Schwartz, Vet stressed that DeFiLlama’s data might not accurately reflect XRPL’s full trading activity. He mentioned that he and Orchestra Finance had collaborated with DeFiLlama’s team on integration efforts. 
Vet explained that the actual 24-hour trading volume, when combining the Central Limit Order Book (CLOB) and AMM figures, was approximately $9 million.
Why is XRPL DEX Volume Low?
While XRPL’s $9 million DEX volume remains significantly lower than those of competitors, such as Ethereum ($1.44 billion), Solana ($1.087 billion), and Binance Smart Chain ($2.61 billion), this gap is largely due to XRPL’s historical focus outside of DeFi. 
The network has only recently begun expanding into decentralized financial services, making it understandable that its on-chain trading activity lags behind other blockchains that have prioritized DeFi development for years.
Further context highlights that DEX volume alone does not determine a blockchain’s legitimacy. Bitcoin, for instance, has an enormous market cap exceeding $1 trillion, yet its DeFiLlama data shows a mere $238,740 in DEX volume. This suggests that using DEX trading figures as the sole measure of a blockchain’s utility or legitimacy can be misleading.
Aylo’s argument also led to confusion, with certain individuals mistakenly assuming he was referring to XRP’s total 24-hour trading volume rather than its DEX volume. In reality, CoinMarketCap data indicates that XRP’s global trading volume stands at $3.14 billion within the same period, an appropriate figure for an asset of its size.
DisClamier:
This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect LACHAKARI Crypto opinion. Readers are encouraged to do thorough research before making any investment decisions. LACHAKARI Crypto is not responsible for any financial losses.
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