‘We Have To Be About More Than Speculation’: Ripple CEO Questions Whether Dogecoin Has Been Good for Crypto
Release: 2024/06/02 03:04 Reading: 535
Ripple CEO Questions the Value of Dogecoin
Ripple CEO Brad Garlinghouse believes that meme token Dogecoin (DOGE) does not contribute positively to the cryptocurrency industry. In a speech at Consensus, Garlinghouse expressed his concerns about the lack of regulatory clarity in the United States and acknowledged the unpredictable nature of institutional investment in the crypto sector.
Garlinghouse emphasized the need for cryptocurrencies to focus on solving real-world problems. "We have to be about more than speculation," he said. "I don't think Dogecoin has been a good thing for the industry."
According to Garlinghouse, Dogecoin lacks a clear use case and does not facilitate the development of projects with practical applications. He stressed the importance of focusing on cryptocurrencies that address real utility.
At the time of writing, DOGE was trading at $0.159, showing a slight decline from the previous 24 hours.
Ripple has made significant contributions to political action committees (PACs) supporting pro-crypto candidates. This week, the San Francisco-based payments firm donated another $25 million to Fairshake, a PAC dedicated to supporting pro-crypto candidates in elections. The firm also contributed $25 million to a super PAC last year.
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