Custodia Bank founder and CEO Ketleen Long gave one of the rigorous assessments of Ripple and XRP ecosystem in the recent episode of G Gold Cast of Gold goats, which calls in institutional finance in institutional finance. In a comprehensive criticism, clearly clearly: “It is not going to handle.
Ketlin Long Slams Ripple and XRP
The conversation began in the context of birth that the “blessed” by regulators to handle the financial infrast token by the Ripple token may be among the “blessed” blockchain networks. But for a long time, the story was pushed hard, saying how important this network is. ,
For long, Core Issue Les in Ripple’s structural heritage. He said, “Banks always doubt this,” he said, he said that he described the project as centralized architecture and flawed tokenomics. “It is a centralized network and tokenomics are backwards.” He argued that the XRP modeled a large-scale pre-east-food and upfront in the fundamental-damaged institute in funding. “People who have withdrawn money are never giving to everyone
For a long time, there is control starc with bitcoin and atherium. “The most effective tokening platforms are Os where there was no money” it is bitcoin and atherium. ,
Long also explained Ripple’s rented axis – now launching its own re -attached stabechoin with the company – as a silent entry of failure. “Instead of trying to sell the restricted industry, they achieve their own regulated fine institutions and curiosity a stabechin,” sheer. “This is in some ways, an entry, an entry that the base layer blockchain did not find the adoption he was looking for.”
Ripple’s comments amidst their continuing in institutional markets inspire the comments, an American bank charter and efforts to launch a US dollar StableCoin. While these tricks have been observed as a sign of matri and strategic adaptation in some circles, as a failure for them longer, given that the original promise – to create a fundamental layer for interbank disposal – was not clearly physical. “The base layer network is not going to create the base layer of changing the Swift,” he said.
He also faced a legal and regulatory drag ripple over the last Sever years to offer an unregistered securities against the company for a second long time. “That Hamstroung to him,” he said, who used to eat that the Biden administration did not suffer under the widespread crack on Ripple Crypto: “It doesn’t return because the Fed hurts us … Everyone who was targeted by the biden administration was in injury to different degrees.”
Asked which network an American Treasury is most likely to choose to tokens the American Treasury, the long ekvivocal was: “They are not going to use Ripple. They are going to use the etherium. Bitcoin, but bitcoin layer Twos are not mature enough for something.” He quoted the technical mature and infrastructure redline of Etheram.
XRP community reacts
The backlash from the XRP community was sharp and fierce. The major community figure Crypto Eri stopped the comment on “protocol”. The entire blockchain uproar must be rejected deeply, “he wrote.
Digital Asset Investor, another famous XRP supporter, tagged the Ripple officials directly, suggesting that the company was still on track to achieve regulatory brakes. Ashley Prosper extended even further, alleging that the Critic Customs of Long could stop frustration on the Custodia Bank of a Federal Reserve Master Count: Cetlene Long Like Like Sound Replay will get its Fed Master Account before Custodia ban. ,
But for a long time nor contingent-it was given and the blockchain infrastructure forms bank-grade on its prolonged perspective. For him, belief, decentralization, and long-term neutrality are the festival-and XRP, in his view, fails on all three.
“Ripple has long been compared to someone else and has a lot of projects,” long struggled. “It’s really so easy.”
At the press time, XRP traded at $ 2.94.
Image made with Dall.E, chart from traudingview.com
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