In a twist that could only be described as a cosmic joke, the digital trading platform Uphold has managed to ruffle the feathers of the XRP community. Apparently, they dared to question the viability of a strategic reserve involving the Ripple-affiliated cryptocurrency, which is about as popular as a Vogon poetry reading at a galactic convention. 🚀
To add fuel to the interstellar fire, Uphold decided to share a snippet from a recent appearance of Anthony Georgiades, the founder of Innovating Capital, on Yahoo! Finance. In this segment, he boldly declared that he sees a plethora of “fundamental flaws” in XRP. Yes, a plethora! That’s more than just a few, folks. It’s practically a buffet of flaws! 🍽️
Georgiades went on to suggest that a strategic reserve backed by XRP might just be the ticket to the network’s demise. “It really goes back to the fundamental behavior of how Ripple itself operates,” he mused, as if pondering the meaning of life while sipping a Pan Galactic Gargle Blaster. 🥴
He further elaborated that XRP has been under scrutiny for being controlled and manipulated by Ripple Labs. “Ripple Labs maintains a lot of influence over XRP,” he added, as if this were a shocking revelation rather than a well-known fact. Who would have thought? 🤔
According to Georgiades, the centralized nature of Ripple is the primary reason why the government wouldn’t even consider it a key candidate for a reserve. Because, you know, centralization is so last century. 🙄
After Uphold shone a spotlight on this interview, they were bombarded with a deluge of angry comments. “What a weird and wrong kind of post for Uphold. Is this a new PR Firm that doesn’t understand the space?” exclaimed XRP-focused YouTuber Crypto Eri, who clearly has a knack for understatement. “This is FUD,” another user chimed in, as if that would magically make the situation better. 😅
Despite the backlash, Uphold has bravely resisted the regulatory pressure to delist the XRP token since early 2021, when Ripple found itself in a legal pickle with the SEC. Talk about a rollercoaster ride! 🎢
Drawing ire of Bitcoiners
In a plot twist worthy of a soap opera, Ripple has also managed to draw the ire of the Bitcoin community after allegedly lobbying against a BTC reserve. Because why not stir the pot a little more? 🍵
Ripple CEO Brad Garlinghouse has publicly stated his support for a multi-token reserve that would include XRP. Because if you’re going to be controversial, you might as well go all in! 💰
As for the odds of the U.S. creating a Bitcoin reserve in 2025? They currently stand at a staggering 43%. So, basically, flip a coin and hope for the best! 🪙
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2025-02-02 12:35