The Currency Analytics
By Maheen Hernandez
XRP and Consolidation of Crypto Investments
Ripple Funded By Angel Investors and Venture Capitalists Not XRP ICOs
Ripple CEO has offered a bold prediction for 2020. Brad Garlinghouse, CEO of Fintech company, provided insights stating that what he predicts is set to happen in the…
He stated, “I think you’re going to continue to see consolidation. The world doesn’t need 3000+ cryptocurrencies out there, and I think the utility will bear out that there will…
He further stated that out of the 3000 numbers of cryptocurrencies, it is not clear as to how many of them will disappear this year.
The utility of XRP does not impact customers and retail investors. When thinking in terms of the upcoming consolidation, a lot of smaller Altcoins will be considered…
Angel investors and venture capitalists fund Ripple. Former Bitcoin developer Peter Todd started a twitter debate, which revolves around the idea of whether Ripple ran an…
Ripple CTO David Schwartz, in turn, replied, stating that the blockchain titan does not need money from those to buy the tokens as venture capitalists and angel investors…
David Schwartz tweeted: “Nobody buys XRP to give Ripple money to do things. We were VC/angel-funded and were going to build regardless.
He further clarified that several companies develop themselves with the funds they raise with ICOs; however, Ripple will be able to develop with the help of its VC funding.
Schwartz clarified that XRP was never a fundraising mechanism to get things up and running. Further added, "Even if that's true now, it certainly wasn't true years ago.”
Ripple is controlling about 55% of the XRP tokens. They unlock 1 billion from their escrow wallet every month.
Bard Garlinghouse, the CEO of Ripple, stated that these sales were essential to ensure the growth of the RippleNet and XRP-related business.
Peter Todd further added that "XRP doesn't give investors a real right to anything.”