Ripple CTO Defends XRP Against ‘Vaporware Ponzi’ Claim By Bitcoin Maxi

• Ripple CTO David Schwartz engaged in a debate over XRP’s legitimacy.
• Critics claim XRP is centralized and manipulated by Ripple.
• Schwartz challenges critics to discuss XRP’s technology, but they refuse.

Ripple CTO David Schwartz defended XRP in a heated online debate after investor Jonnie King called the asset a “vaporware ponzi.” The discussion stemmed from concerns over the inclusion of XRP in the U.S potential strategic reserves. 

King argued that XRP is under centralized control and that Ripple’s influence over supply made it unfit for the U.S. strategic reserve. He accused Ripple of controlling half the XRP supply through its escrow system and releasing large token amounts monthly, which he claimed let the company manipulate price and make revenue. 

He also alleged that Ripple could alter the release schedule of escrowed tokens at any time, giving it undue influence over market dynamics.

Beyond market worries, King pointed to Ripple’s political involvement. He cited that Ripple’s executive Chairman, Chris Larsen, donated to Kamala Harris’s campaign. Meanwhile, following Donald Trump’s victory, the company itself contributed to Trump’s ina…

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