Messari Founder Claims Ripple Threatens Trump’s Crypto Vision!

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Ryan Selkis, the creator of Messari, has stirred up more debate by labeling Ripple and XRP as a hindrance to the cryptocurrency-friendly policies of the Trump administration. His criticism highlights ongoing disputes in the digital currency world and focuses on Ripple’s alleged centralized actions and its significant control over XRP.

As a researcher delving into the intricacies of blockchain technology, I posit that certain components, as proposed by Selkis, might contradict the decentralized essence of cryptocurrencies. If left unchecked, these elements could potentially undermine broader aspirations for the widespread adoption of this transformative technology.

Ripple’s Growing Market Cap Raises Questions

Selkis is particularly attentive to the increasing worth of XRP. He thinks that the similarity in value between Ripple and major corporations like Salesforce and Bank of America might lead to biased market perceptions.

XRP is now bigger than Salesforce and approaching BofA in market cap.

1. One of the top thirty American corporations.
2. Valued at twice the amount as Uber.
3. Larger in value than Shopify, PayPal, and Microstrategy together.
4. Five times the magnitude of Coinbase in terms of size.

Ripple’s crash and scandals will take down the entire crypto agenda in DC.

— Ryan Selkis (d/acc) (@twobitidiot) January 16, 2025

Selkis warns that the strong financial authority might hinder Washington’s ambition for broader adoption of blockchain technology, as it complicates aligning Bitcoin-centric principles with their cryptocurrency objectives.

Centralization Vs. Decentralization

As a crypto investor, I’ve noticed that there’s ongoing discourse regarding Ripple’s structure and its impact on the XRP distribution. Compared to Bitcoin, the dispersal of XRP is more restricted, with a significant portion held by Ripple Labs. Critics, like Selkis, argue that this setup contradicts the ethos of blockchain technology, which emphasizes autonomy. The issue of centralization remains a contentious topic in the public sphere, despite Ripple’s assertion that their operations are crucial for their ecosystem.


Impact On The Trump Crypto Agenda

Selkis further notes that as Ripple’s power expands, it may complicate President Trump’s pro-cryptocurrency stance. Given their core principles in economic policy, the government has been emphasizing the development of Blockchain technology and Bitcoin. However, Ripple’s dominance in certain financial sectors could create friction and shift focus away from other distributed solutions. This raises questions about how lawmakers might address these disagreements.

My unfavorable attitude towards Ripple doesn’t stem from any affection for XRP or its recent surge in popularity. I’m genuinely glad that those who own XRP have profited, but my perspective on Ripple is primarily based on other factors.

My issue with them is that they aren’t content with just being billionaires, they lust for power.

But they aren’t good people.

— Ryan Selkis (d/acc) (@twobitidiot) January 16, 2025

In a different post intended as an explanation for his animosity towards the organization, Selkis asserted that the leaders at Ripple, specifically Chairman Chris Larsen and CEO Brad Garlinghouse, allegedly have an insatiable desire for power.

“My issue with them [Ripple executives] is that they aren’t content with just being billionaires, they lust for power,” he contended.

The Road Ahead For Ripple And XRP

Ripple, for its part, has consistently denied accusations that it contradicts the principles inherent in cryptocurrencies. Instead, it employs its collaborations with financial institutions and initiatives to enhance cross-border transactions as evidence of its worth. The crypto community remains divided on whether Ripple signifies a crucial advancement or a deviation from the original blockchain objective.

Discussing the distinct methods used by Ripple versus wider cryptocurrency objectives raises significant queries about the direction of blockchain technology in the future. As XRP’s worth increases, finding a balance between fostering innovation and maintaining decentralization will be crucial.

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2025-01-19 01:27