Ripple CEO Lambasts Dogecoin

Cover image courtesy of U.Today

Ripple CEO Targets Dogecoin

CEO of Ripple, Brad Garlinghouse, recently criticized Dogecoin, the largest meme coin, during his appearance at Consensus.

"I don't believe Dogecoin has benefited the industry. I'm not against it, but I'm not sure of its purpose."

Garlinghouse highlighted the utility of various chains, emphasizing it as a crucial aspect.

This is not the first time Garlinghouse has spoken against Dogecoin. At the World Economic Forum in January, he questioned its use case, stating, "Other than Elon Musk's involvement, I don't see its purpose."

His remarks sparked backlash from the Dogecoin community. Co-founder Billy Markus defended the meme cryptocurrency, comparing it to Bitcoin but with different parameters and a dog mascot.

Ripple and Stablecoins

Earlier this month, Tether CEO Paolo Ardoino criticized Garlinghouse after his statement that the stablecoin was under government scrutiny. Garlinghouse later clarified that he did not intend to criticize Tether.

XRP ETF Anticipation

Garlinghouse predicts that the SEC will approve exchange-traded funds (ETFs) for multiple altcoins, including XRP. He believes that this shift is "inevitable."

Additionally, Garlinghouse has urged US regulators to establish clear guidelines for the industry.