- Recent controversial events provoked by Ripple
- Brad Garlinghouse responds
The Ripple chief executive Brad Garlinghouse who recently publicly responded the community’s complaints regarding regular ‘XRP dumping’, plans to be a keynote speaker at an event dubbed Fintech Week 2019. The event is to take place in late October.
Alongside the head of Ripple, the list of the speakers includes the chairmen of major US regulators – the SEC and the CFTC, the Ethereum co-founder, crypto billionaire Joseph Lubin, and reps of other regulatory agencies.
Garlinghouse and SEC’s Joshua Clayton are going to make their speeches on the same day.
Recent controversial events provoked by Ripple
Over the past few weeks, the community has clearly expressed their reaction regarding regular XRP sales conducted by Ripple.
A Twitter users Crypto_Bitlord publicly expressed his indignation, tweeting that Ripple is dumping gargantuan amounts of XRP deliberately – to prevent the asset’s price from increasing.
The first step he took to try and stop it was to set up a petition on the change.org website, demanding that Ripple would stop the dumping. The second one was that he threatened to conduct an XRP fork to prevent further coin’s price fall.
However, later on, a petition with an opposite goal appeared on the same platform. A user who initiated it demanded that Ripple should continue dumping XRP in order to ‘unleash’ the utility of XRP.
The first petition has already received nearly 2,500 signatures.
Brad Garlinghouse responds
In a series of tweets reported by U.Today earlier, Mr Garlinghouse addressed several issues regarding FUD that is being spread around XRP and pointed out that the regular so-called ‘XRP dumps’ (1 bln XRP that is released from escrow each quarter and sold) chases the only goal – to increase the XRP utility.
The most recent example of an ‘XRP dump’ is the transfer of 100 mln XRP from Ripple to the wallet of the Stellar founder Jed McCaleb.