Ripple CEO and all-round top guy Brad Garlinghouse has spoken out at the rumors and FUD of recent months.
Taking to Twitter he tried to put to bed the misconceptions, concerns and in some cases, pure fiction in a series of four tweets.
I’m always struck by the questionable (I’m being generous here) spreading FUD about XRP and Ripple.
Even more so over the last few weeks (Ripple’s XRP sales. litigation etc) thus, I fell compelled to comment.Brad Garlinghouse – Ripple CEO
Sticking to Facts
He then went on to discuss the upcoming class-action lawsuit against Ripple of which he is a defendant.
As he clearly states the UK regulators, as well as many others around the world, have decided that XRP is NOT a security.
1/ As a defendant in the class action lawsuit, I won’t get into the details (response from Ripple is coming soon). I will say: SEC guidance isn’t issued by the Commission and isn’t law, rule or regulation. It’s clear XRP is not a security and the UK and others have said as much.Brad Garlinghouse
He also took the opportunity to face the rumors that Ripple sell-off their holdings of XRP for a multitude of fictional reasons.
As Brad Garlinghouse pointed out, sales of XRP assist the development of all Ripple projects which are about to revolutionize the planet.
2/ XRP sales are about helping expand XRP’s utility – building RippleNet & supporting other biz building w/XRP ie Dharma & Forte. Reality is we DECREASED our sales by volume Q/Q and since then the inflation rate of XRP circulating supply has been lower than that of BTC and ETH.Brad Garlinghouse
Blooming Fake News
Finally, he responded to certain issues one such being the recent Bloomberg report after they slated what they deem as poor performance.
3/@Ripple continues to set industry standards in reporting and transparency (one example is our quarterly markets report). We lay it all out, and it’s not our “view” but fact. ripple.com/insights/q2-20@bloomberg
Brad Garlinghouse on Twitter
Fear, Uncertainty & Doubt
Yesterday, an XRP holder on Twitter said that he has sold all his personal XRP coins, and is ‘getting out of this hole’ for now. In place of holding XRP, he mentioned that he would invest in ONE and LINK unless he would come back to Ripple’s XRP later when the market gets better.TWJ News