The post Ripple Undermining U.S. Prosperity, Bitcoin Reserve: Jack Mallers appeared on BitcoinEthereumNews.com.

Prominent Bitcoin advocate Jack Mallers takes aim at Ripple, saying that the blockchain company is aiming to do ‘everything they can to destroy USA’s bastion of strategic Bitcoin reserves.’ Ripple ‘is spending millions of dollars on corporate lobbying efforts disguised as technological innovation,’ Mallers alleged in a fiery statement on social media. He says these actions represent a direct threat to the United States’ financial freedom and economic stability. Source: X Ripple has already seen criticism in the crypto industry. But Mallers’ allegations have reignited the debate about what drives the company, namely the decision to pursue a crypto reserve with a broader base rather than a Bitcoin only strategy for the United States. The Core Allegation: A Threat to Bitcoin’s Strategic Reserve At the core of Mallers accusations is Ripple’s push for a crypto reserve that’s not solely Bitcoin, and includes tokens such as XRP, USDC, and Solana. The crypto community remains deeply divided on this proposal, with Bitcoin maximalists considering it Bitcoin’s last attempt to dilute its dominance as the ultimate reserve asset. – Advertisement – According to Mallers, this move is a shrewd manipulation on Ripple’s part, designed to put its own finances ahead of what the Bitcoin protocol is: a decentralized, secure global standard. Mallers stated that Ripple is undermining American prosperity and freedom. He states that they’re spending millions of dollars actively trying to stop a strategic Bitcoin reserve in America. According to him, this is corporate lobbying dressed up as tech growth and we have to fight back. A prominent crypto commentator Ryan Selkis recently expressed similar concerns, accusing Ripple of explicitly going against the very idea of a Bitcoin only reserve. He even called out Ripple’s leadership, including Garlinghouse, its chief legal officer, Stuart Alderoty, and apparently some from the executive management team,…

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Filed under: News - @ January 26, 2025 10:25 pm