Ripple CEO Defends SEC Charges, Says XRP Has “Zero Inflation Dynamics”

Date:

Ripple has been embroiled in controversies after the SEC (US Securities and Exchange Commission) flagged the project’s XRP tokens.

While the Ripple team has been contesting the charges legally, CEO Brad Garlinghouse in his latest interview with CNBC spoke about the SEC charges in defence. He said that RIpple’s XRP has “zero inflation dynamics” because the total number of tokens that could be created are already mined. He said that because no new tokens can be created it is undoubtedly a zero inflation dynamic.

He also said that Ripple is unique from other top tokens like Bitcoins and Ethereum. The top PoW can be mined and new tokens can be created.

Responding to the question of the legal charges against the company, Garlinghouse said that the charges are ill-founded and that XRP is strictly not an investment contract, there is no claim to a stake in the company as such.

He also reiterated that Ripple does not control XRP which is an open source-sourced technology. He seemed very hopeful and positive about the future of the XRP tokens and said that they are a highly efficient and cost-effective method of payment transfers.

Ripple prices have been suffering and they have not been able to live up to the expectations of investors. However, the tokens continue to be amongst the biggest with a multi-billion dollar market cap. Much of Ripple’s woes started after SEC pressed charges against the company as it classified its XRP tokens as securities and not a utility.

George Kim
George Kim
With over three years of experience working as a crypto-journalist, George reports mostly on price movements and all major events that influence the cryptocurrency market. While George is all about discussing the trends and future trajectories of coins of all shapes and sizes, he will never let you know where he buries his funds.

Leave A Reply

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Ancient Bitcoin Whale Stuns Major Exchange with $535 Million BTC Transfer

In an unexpected turn of events, a long-dormant bitcoin...

Cardano (ADA) Headed for Reversal? Analyst Eyes $0.50 as Turning Point

Cardano (ADA), the smart contracts platform known for its...

Japan’s Metaplanet Stock Jumps 10% After Disclosing Additional BTC Purchase

Tokyo-listed investment firm Metaplanet Inc. saw its shares rise...

FTC Warns of Crypto Romance Scams in the US

The US Federal Trade Commission (FTC) has issued a...