On Thursday (June 20), Brad Garlinghouse, the CEO of Ripple, said that Ripple was having such an amazing week that he was going to thank Facebook's David Marcus—who is a co-creator of the Libra cryptocurrency and the head of the Calibra wallet project—by sending him a case of champagne.
The Ripple CEO's comments during an interview—with Clifton Leaf, Editor-in-Chief, FORTUNE—on day two of the FORTUNE Brainstorm Finance 2019 conference (June 19-20, 2019 at Gurney’s Montauk Resort in Montauk, NY). This article focuses on the key highlights from this conversation.
The MoneyGram Deal
Leaf started the interview by asking Garlinghouse about the "massive" deal with MoneyGram, which was announced on Monday (June 17), one day before Facebook released details about its upcoming cryptocurrency (Libra) and digital wallet (Calibra). In particular, he wanted to know why was it that the stock price of MoneyGram "shot up 168%" after the announcement of Ripple's investment in MoneyGram whereas the price of XRP "barely moved."