Altcoins News
By Maheen Hernandez
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XRP and Consolidation of Crypto Investments
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Ripple Funded By Angel Investors and Venture Capitalists Not XRP ICOs
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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…
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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…
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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.
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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…
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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…
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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…
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David Schwartz tweeted: “Nobody buys XRP to give Ripple money to do things. We were VC/angel-funded and were going to build regardless.
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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.
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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.”
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Ripple is controlling about 55% of the XRP tokens. They unlock 1 billion from their escrow wallet every month.
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Bard Garlinghouse, the CEO of Ripple, stated that these sales were essential to ensure the growth of the RippleNet and XRP-related business.
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Peter Todd further added that "XRP doesn't give investors a real right to anything.”
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