Messari Founder Slams Ripple, Calls It A Risk To Trump’s Crypto Plan
The post Messari Founder Slams Ripple, Calls It A Risk To Trump’s Crypto Plan appeared on BitcoinEthereumNews.com.
The founder of Messari, Ryan Selkis, has generated further controversy by branding XRP and Ripple as an obstruction to the pro-crypto agenda of the Trump government. His criticism emphasizes long-standing disputes in the digital currency space and concentrates on Ripple’s claimed centralizing behavior and massive XRP holdings. Selkis claims that these components go against the distributed character of cryptocurrencies and could compromise more general goals for the acceptance of blockchain technology. Ripple’s Growing Market Cap Raises Questions Among Selkis’s key concerns are XRP’s growing market value. He believes that the fact that Ripple’s value now compares to that of large companies like Salesforce and Bank of America might skew market opinions. XRP is now bigger than Salesforce and approaching BofA in market cap. + Top 30 US company.+ Twice the value of Uber.+ Bigger than Shopify, PayPal, and Microstrategy combined.+ 5x the size of Coinbase. Ripple’s crash and scandals will take down the entire crypto agenda in DC. — Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) January 16, 2025 He says that this financial power makes it more difficult to match Bitcoin-focused principles with Washington’s cryptocurrency objective. Selkis cautions that this kind of control could impede the administration’s intentions for more extensive blockchain innovation. Centralization Vs. Decentralization People often argue about Ripple’s role in terms of how it is structured. The spread of XRP is much more tightly controlled than Bitcoin’s. Ripple Labs holds a large amount of it. Some people, including Selkis, say that this setup goes against the idea that blockchain technology is autonomous. The centralization criticism is still a hot topic in public debate, even though Ripple says its operations are important for its ecosystem. XRP is currently trading at $3.16. Chart: TradingView Impact On The Trump Crypto Agenda Selkis also points out that Ripple’s growing influence could make…
Filed under: News - @ January 18, 2025 10:27 pm