As a researcher with a background in cryptocurrencies and blockchain technology, I find it intriguing to observe the ongoing tensions between various players in this rapidly evolving industry. In this particular case, I’m concerned with the recent exchange of words between Samson Mow, the CEO of Jan3 and a known Bitcoin maximalist, and Brad Garlinghouse, the CEO of Ripple.
Bitcoin advocate Samson Mow, previously the CSO of Blockstream and currently leading Jan3 as CEO, has penned down a tweet to poke fun at Ripple following Brad Garlinghouse’s remark that he suspects the Securities and Exchange Commission (SEC) is now targeting Tether.
As a crypto investor, I’ve closely followed the ongoing debate between Tether/Bitfinex CTO Paolo Ardoino and Ripple’s Brad Garlinghouse. Paolo recently responded to Brad’s criticism of Tether by pointing out that Ripple itself has been spreading uncertainty or “FUD” about Tether in the past. Furthermore, he reminded us that Ripple wasn’t an innocent party when it came to spreading FUD, as they had done the same with Bitcoin earlier.
Tether CTO responds to Brad Garlinghouse’s Tether statement
At the latest episode of the “World Class” podcast led by Chris Vasquez, Ripple’s CEO Brad Garlinghouse delivered a significant caution concerning the Securities and Exchange Commission (SEC) in the United States and Tether, a prominent player in the stablecoin market.
Garinghouse expressed his perspective on the situation, stating that the U.S. authorities, with the SEC serving as their main agent, are targeting Tether and its widely-used stablecoin USDT. This digital currency operates on various blockchains and comes in multiple versions, each backed by different fiat currencies and gold.
The Ripple CEO also said that he views this company as a very important part of the ecosystem.
Paolo Ardoino, Tether’s CTO, retorted to the statement made by Brad Garlinghouse, Ripple’s CEO, labeling him an “unenlightened CEO.” Ardoino further noted that Ripple had recently disclosed their intentions to introduce a stablecoin into the market, thereby positioning themselves as rivals to Tether.
Paolo Ardoino subsequently shared some information with the crypto X community regarding the security of Tether’s USDT ecosystem. He emphasized that USDT is the most widely-used stablecoin globally, supporting over hundreds of millions of users, predominantly in emerging markets and developing countries.
Garlinghouse countered Ardoino’s claims, asserting that he had not assaulted the leading stablecoin provider in the industry.
Samson Mow goes at Ripple for spreading FUD
Samson Mow, the boss at Jan3, used his X account to back Ardoino and criticize Ripple. He claimed that this California-based blockchain firm is deliberately spreading fear, uncertainty, and doubt (FUD) about Tether in an attempt to boost their own stablecoin.
It’s not shocking that Ripple, which previously paid Greenpeace $5 million to spread negativity about Bitcoin, is now attempting to stir up controversy against Tether in order to boost its own stablecoin.
— Samson Mow (@Excellion) May 13, 2024
In 2022, Ripple, with Chris Larsen at its helm, contributed $5 million to Greenpeace for launching an initiative aimed at encouraging Bitcoin to shift from the energy-intensive Proof-of-Work method.
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2024-05-14 11:48