Caitlin Long, CEO of Custodia Bank, voiced criticism against Ripple (XRP), drawing significant attention in the crypto community.
Caitlin Long's Claims About Ripple
Caitlin Long claimed that the XRP ledger is not decentralized and accused Ripple of lacking transparency at launch. She suggested that the platform falls short of modern financial standards.
XRP Community's Response to Critique
The XRP community responded to Long's statements, notably an XRPL validator named Vette outlined five reasons why Long's claims were misleading. He stated that Ripple never held an ICO, and that 100 billion XRP tokens were created at the ledger's genesis in 2012 without a public token sale.
Ripple's Achievements Perspective
Long also criticized Ripple for not achieving significant results despite over a decade of operation, pointing out SWIFT's continued dominance in cross-border payments. The XRP community highlighted Ripple's steady progress, including partnerships and technological upgrades.
Long's critique sparked debates about Ripple's centralization and its achievements. The XRP community continues to believe in Ripple's significance for the future of payment systems.
