Ripple (XRP) CEO: Memecoins Like Dogecoin Are Preventing the Development of the Industry!
Brad Garlinghouse targeted DOGE and other memecoins.
Brad Garlinghouse, CEO of popular altcoin Ripple (XRP), criticized Dogecoin (DOGE), the largest memecoin by market value, for its lack of practical usage options in a recent speech.
Speaking at the Consensus 2024 conference, Garlinghouse questioned the true value of Dogecoin. DOGE, a meme cryptocurrency, is only encouraging speculation in the cryptocurrency industry, according to Ripple president.
The successful executive thinks that Memecoins make it difficult for the crypto industry to gain widespread public acceptance, and also prevents regulators from clarifying the laws regarding cryptocurrencies.
Ripple CEO Brad Garlinghouse also made the following remarks at the Consensus 2024 conference:
“The crypto industry must move beyond speculation. However, memecoins such as Dogecoin thrive on speculation, which becomes a serious obstacle to the development of the industry.”
Garlinghouse called the Ripple project a project focused on solving social problems. The successful businessman defined XRP as an alternative to traditional payment systems used to make international payments.
Brad Garlinghouse's targeting of DOGE, a product that Tesla CEO Elon Musk has supported for a long time, caused some investors to react.
