Altcoins News
By Pankaj K
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XRP’s Origins: No ICO, Says XRPL Validator. Supporting Schwartz’s statement was XRPL validator @Vet_X0, who took a deeper dive into XRP’s…
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RLUSD Stablecoin: Multi-Chain by Design. Much of Long’s skepticism also centered on Ripple’s new stablecoin, RLUSD.
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Ripple’s Response Reflects Ongoing Scrutiny. The public exchange between Schwartz and Long reflects the ongoing tension between crypto projects…
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Final Thoughts. David Schwartz’s response, supported by core XRPL contributors, underscores Ripple’s ongoing…
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Ripple’s Chief Technology Officer, David Schwartz, has stepped forward to correct what he calls misleading narratives surrounding XRP and Ripple’s latest stablecoin initiative.
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Speaking during a podcast interview, Long suggested that Ripple’s early activities bore the hallmarks of an initial coin offering (ICO)—a form of public fundraising often…
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Schwartz quickly pushed back, using social media platform X to reject Long’s claims as inaccurate.
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“I’m available whenever you want to chat about the facts about Ripple, our stablecoin RLUSD, the XRP Ledger, and its native token XRP,” Schwartz wrote on X.
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“This wasn’t an ICO. There was no fundraising through a token event,” Vet explained. “The tokens were not sold to raise capital—there was no promise of future gains.”
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This contrasts with the structure of Ethereum’s 2014 ICO, in which Ether was sold publicly in exchange for Bitcoin, raising millions to fund the network’s development.
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Vet also addressed another claim made by Long: that Ripple exercises central control over the XRP Ledger.
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According to Vet, the XRP Ledger operates as a decentralized, open-source network. There are currently over 1,000 nodes and more than 100 active validators—many of which are…
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Much of Long’s skepticism also centered on Ripple’s new stablecoin, RLUSD. She suggested that launching the asset on Ethereum, rather than exclusively on XRPL, could indicate…
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Vet dismissed that interpretation, explaining that Ripple’s decision to issue RLUSD on both Ethereum and the XRP Ledger is a deliberate multi-chain strategy aimed at improving…
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“This isn’t abandoning XRPL—it’s about reaching more users and enhancing liquidity across ecosystems,” Vet wrote.
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