• Dapps: 16.23K
  • Blockchains: 78
  • Active users: 66.47M
  • 30d volume: $303.26B
  • 30d transactions: $879.24M

Elon Musk and XRP: Implications for the Crypto Industry

by

6 hours ago


During a recent meeting in Pittsburgh, Pennsylvania, Tesla and SpaceX CEO Elon Musk referenced XRP for the first time, sparking widespread interest.

XRP Question and Musk's Response

The mention came when an attendee questioned Musk on the future use of the XRP Ledger by financial institutions. Musk, choosing his words carefully, expressed belief in the potential of cryptocurrencies as a safeguard against centralized control systems, while stressing that his comments should not be taken as either an endorsement or opposition to XRP.

Community Reaction and Response

The news quickly spread across social media. Vandell, using the handle Black Swan Capitalist (@vandell33) on X, pointed out Musk's cautious demeanor, speculating on the broad implications for cryptocurrencies like Bitcoin and Dogecoin compared to XRP.

Musk's History with Cryptocurrencies

This marks Musk's first public discussion of XRP, despite years of community attempts to gain his endorsement. Previously, Musk interacted with the community indirectly, including expressing surprise at SEC's draft release of former Director Hinman's speech on Ethereum.

While much has been said and heard, Musk continues to avoid directly mentioning XRP on the X platform, focusing predominantly on Dogecoin. It is anticipated that Musk may integrate cryptocurrencies into the X Payment ecosystem in the future.

0

Share

Other news

Cryptocurrency Tax Comparison: Japan vs. United States

Exploring the differences in cryptocurrency taxation between Japan and the US: rates, events, and asset classification.

a few seconds ago

Over 92,000 Transak Users Affected by Data Breach

Data breach affected over 92,000 Transak users, compromising personal information.

a minute ago

WazirX Struggles to Find Secure Storage for Crypto Funds

WazirX encounters challenges post-hack, developing a plan to disclose reserves.

22 minutes ago

Transak Data Breach: What We Know About the Hack

Transak platform experienced a breach affecting 1.14% of users. Personal data exposed, but financial information is intact.

23 minutes ago

ZDEX Coin: A New Challenge to Market Leaders

ZDEX Coin attracts attention for its potential to reshape liquidity in the market.

24 minutes ago

ApeChain: Staking APE and ETH with LayerZero Integration

ApeChain announces staking for APE and ETH and enhances LayerZero integration, expanding token functionality.

25 minutes ago

dapp expert logo
© 2020. DappExpert. All rights reserved.
© 2020. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.