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Tuesday, February 7, 2023

Ripple Debunks Rumors

Ripple XRP is one of the most popular cryptocurrencies in the world, but it faces its share of controversy. There are theories and conspiracies that abound as to how Ripple created XRP tokens and whether or not they can create new ones at will. The latest conspiracy theory posits that Ripple has been creating new XRP tokens at will, prompting a response from the company itself — which completely denies these allegations.

For those who don’t know, the theory posits that Ripple has been creating new XRP tokens at will.

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In a Twitter thread, Schwartz debunked this claim and explained that as a cryptographer he knows how to make sure that no one can create new coins without anyone else knowing about it. He also added that the company has never created a single XRP token nor have they sold any tokens to anyone – ever!

Ripple Denies Chatbot Speculations

Schwartz has been around for quite some time now and is well known in the crypto space as one of its most respected personalities with an expertise in cryptography. He is also quite active on social media making sure that his followers get all the updates they need regarding Ripple technology and other crypto-related developments happening around the world today.

According to the claim, which was made by the GPT-3 language model and published in a blog post by data scientist Alec Chepkut on July 20, Ripple CEO Brad Garlinghouse and software engineer Stefan Thomas had developed a method for creating new coins out of thin air — calling this “XRP 2.0.”

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The theory alleges that Ripple has been manipulating XRP price through “whale” investors who are regularly buying large amounts of XRP at discounted prices. Once these whales have amassed enough tokens, they sell them en masse and drive up their price — then wash their hands clean of any wrongdoing by claiming that they don’t have any influence over XRP’s value.

In response to Chepkut’s blog post, Ripple CTO David Schwartz took to Twitter to slam the “fake news” surrounding XRP 2.0 and XRPL Labs CEO Wietse Wind confirmed that the allegations were false information.

Schwartz wrote:

“The only thing you’ll ever see from me is straight talk about why I believe XRP is better than other coins.”

He then added: “And then there’s this guy who spread a bunch of fake news for attention…something about him being an employee of Ripple…? Not sure how he thinks anyone will take him seriously after that.”

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