The Curious Case of XRP: Is China Really Buying $40B Worth of Nothingness?

by

Recently, a most intriguing tale swept across the digital ether, stirring the souls of XRP enthusiasts. There have been whispers, even shouts, asserting that China’s esteemed leader, Xi Jinping, has declared an intent most curious: to legalize XRP and amass a vast treasure of $40 billion for a national crypto reserve. 🐉💰

Yet, dear readers, one must ponder: is there any kernel of truth hidden within this flamboyant assertion?

Who Spun This Tale?

The origin of this remarkable story can be traced back to fervent crypto aficionados like Shibo, whose proclamations on the platform known as X would make even the most seasoned bard raise an eyebrow. However, their entreaties came sans the solid foundation of citations from official channels or those illustrious news reports one might hope to rely on.

Fact Check: A Glimpse at Evidence

No Trumpeting from the Official Trumpeters:

As we meander through this labyrinth of rumor, we find ourselves without any sound bites from President Xi, the People’s Bank of China, or any diligent state media corroborating the notion that China has plans to waltz into the world of XRP with $40 billion cash in hand. 📜🤔

China’s Reluctance: A Continual Cautionary Tale

Ah, but China marches to its own drum, a cautious and restrictive rhythm when it comes to cryptocurrencies. Ever since 2017, and more so following a strict edict against crypto trading and mining in 2021, the nation has resolutely turned toward the state-sanctioned digital yuan, leaving the likes of XRP in the shadows of doubt and disdain.

No Grand Announcement in the Land of the Dragon:

While America has pranced about establishing a strategic bitcoin reserve backed by grand gestures, there lies no indication of such ambitions in China’s grand Playbook. Nevertheless, a Chinese AI enterprise, Webus International, has taken the intriguing step of filing papers with the SEC, aiming to create a sizeable $300 million XRP fund. Rather a corporate maneuver than a governmental one. 🚀🤖

Evidence Table from Coinpedia’s Insightful Gazing

Claim Coinpedia’s Evidence
Xi Jinping confirmed China will legalize XRP No official or credible confirmation from Chinese authorities
China will buy $40 billion XRP for national crypto reserve No evidence; China’s state crypto policy centers on digital yuan
Binance user and social media posts confirm claims Unverified, no source beyond social media speculation
Chinese company filing $300 million XRP treasury Corporate, not government-backed, unrelated to national plans

Conclusion: A Whimsical Farce

Claim President Xi Jinping confirmed that China will legalize XRP and purchase $40 billion to create a national crypto reserve.
Verdict False
Fact-Check by Coinpedia No credible evidence or government confirmation exists regarding Xi’s alleged endorsement of XRP or the grand purchase of $40 billion. A mere mirage, a jest within the digital marketplace! 🎭🙃

Read More

2025-07-22 16:26