Ripple CEO Takes Jab At Dogecoin In Latest Statement

CEO of Ripple, Brad Garlinghouse, criticized Dogecoin during the Consensus 2024 conference.

During the conference, Garlinghouse shared that cryptocurrency aims to solve real problems.

Garlinghouse then switched gears and added Dogecoin, which does not solve real problems.

The CEO of Ripple further elaborated that speculation rather than real-life use cases drive Dogecoin.

Ripple chief executive Brad Garlinghouse doesn’t think that the leading meme token Dogecoin (DOGE) helps crypto. While speaking at Consensus, Garlinghouse laments that the United States “represents the bottom decile of regulatory clarity” for digital https://t.co/3mRXvZiEZI pic.twitter.com/nHyUp181MI

— The Crypto Insider (@BitNewsPulse) June 2, 2024

Here’s what Coin Tribune:

In the constantly evolving world of crypto, controversy is never far away. Recently, Brad Garlinghouse, the CEO of Ripple, expressed sharp criticisms against Dogecoin (DOGE) during the Consensus 2024 conference, questioning the contribution of this meme coin in the crypto industry.

Garlinghouse emphasized that cryptos should aim to solve real problems, which he believes Dogecoin does not do. According to him, the appeal of Dogecoin is primarily driven by speculation rather than tangible use cases. This position is particularly relevant as the crypto industry seeks to gain legitimacy and regulatory acceptance.

The CEO of Ripple also addressed the speculative nature of crypto memes like Dogecoin, highlighting that the industry is still in its early stages and has not yet achieved widespread acceptance and regulatory clarity. He suggested that the prevalence of meme-based cryptocurrencies poses an obstacle to the broader acceptance and development of the ecosystem.

Dogecoin, which started as a joke in 2013, has since accumulated a significant following and reached a record value of $0.73. However, its value largely rests on its strong community, social media presence, and endorsements from high-profile figures like Elon Musk. That’s why, according to Garlinghouse, there are numerous crypto projects across different blockchains that, unlike Dogecoin, demonstrate substantial utility. These practical solutions are what will drive the long-term progress of the industry.

#Ripple CEO Brad Garlinghouse Takes Aim At Dogecoin, Shiba Inu — Favors $XRP Utility And Stablecoin Planshttps://t.co/zNi7nOV1Vs

— XRPcryptowolf (@XRPcryptowolf) June 1, 2024

Per ZYCRPTO:

Ripple CEO Brad Garlinghouse has sparked controversy by criticizing Dogecoin (DOGE) and suggesting that it lacks a clear purpose and utility.

Speaking at the Consensus 2024 conference on Friday, Garlinghouse openly criticized the top meme cryptocurrency, questioning its value and purpose within the cryptocurrency industry, emphasizing the importance of cryptocurrencies serving a genuine purpose beyond speculation.

“We have to be about more than speculation. I don’t think Dogecoin has been a good thing for the industry,” he asserted. “I don’t know what the use case is, unlike other projects being built to solve real utility.”

Notably, this is not the first time Garlinghouse has voiced such concerns. Speaking at the World Economic Forum conference in Davos In January, he similarly questioned the purpose of Dogecoin, stating, “Other than Elon Musk as the central actor, I don’t see the use case and purpose.”

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