Much-Talked about Dogecoin (DOGE) Statement from Ripple CEO Brad Garlinghosue!

Ripple CEO Brad Garlinghouse, who has criticized Dogecoin in the past, has made further comments about the cryptocurrency.

During a speech at the Consensus 2024 conference, Garlinghouse stated that Dogecoin, the largest meme coin, lacks practical use and is detrimental to the cryptocurrency industry.

Despite its substantial market capitalization of $23.22 billion, Garlinghouse argued that DOGE has no intrinsic value and instead thrives on speculation within the crypto sector.

Acknowledging the current lack of regulatory clarity for crypto in the United States, the Ripple CEO emphasized the need for the industry to focus on solving real-world problems:

"We have to move beyond mere speculation. I may sound like a broken record, but I'll say it again: Dogecoin is not beneficial for the industry. I am not inherently opposed to DOGE, but I fail to see its practical utility. Its true value remains questionable. I recognize the potential of various blockchains, including DOGE, but it is crucial to prioritize solving real problems. Meme coins like Dogecoin, which are built on speculation, hinder the industry's progress."

At the time of writing, DOGE is trading at $0.159.

*This is not investment advice.