Ryan Selkis, founder of Messari, has stirred controversy by criticizing Ripple and XRP, claiming they conflict with the Trump administration's pro-crypto stance.
He argues that Ripple’s centralized control of XRP and its substantial market influence contradict the decentralized nature of blockchain, potentially hindering broader adoption.
Selkis points out that Ripple’s growing valuation, comparable to major companies like Salesforce and Bank of America, could skew perceptions of the crypto market and challenge Bitcoin-focused policies. He contends that Ripple’s dominance might overshadow decentralized innovations, complicating government efforts to promote blockchain technology.
The debate over Ripple’s centralization remains heated. Critics, including Selkis, argue that Ripple Labs’ control over a large portion of XRP undermines the core principles of decentralization. Ripple counters by emphasizing its role in improving cross-border transactions through partnerships with financial institutions.
Selkis has also accused Ripple’s leadership of pursuing power beyond financial success, adding fuel to the debate. Ripple, however, continues to defend its approach as a necessary evolution within the ecosystem.
This ongoing tension highlights a larger question: how to balance decentralization with innovation as blockchain technology evolves. Ripple’s rise forces the crypto community to confront whether its model is a step forward or a departure from the industry’s original ideals.
Bitcoin-focused investment firm Strategy Inc. (formerly MicroStrategy) is facing mounting legal pressure as at least five law firms have filed class-action lawsuits over the company’s $6 billion in unrealized Bitcoin losses.
Digital banking platform SoFi Technologies is making a strong return to the cryptocurrency space, relaunching its crypto trading and blockchain services after stepping away from the sector in late 2023.
Digital assets are gaining ground in corporate finance strategies, as more publicly traded companies embrace cryptocurrencies for treasury diversification.
Ripple has been dealt another legal blow after a federal judge rejected its attempt to ease court-imposed restrictions and penalties stemming from its long-standing battle with the U.S. Securities and Exchange Commission (SEC).