Gemini's Tyler Winklevoss Endorses XRP Rewards Amid Skepticism

Tyler Winklevoss, co-founder of Gemini, recently endorsed the XRP rewards program on his platform’s credit card, sparking a mix of excitement and skepticism within the crypto community. This endorsement came after a social media poll by EasyA co-founder Dom Kwok, which showed overwhelming support for an XRP cashback initiative. Gemini’s marketing lead, Ethan Kimmel, promoted the firm’s credit card offering, which includes up to 4% XRP cashback, and Winklevoss reposted this message, inviting the “Ripple Army” to participate.

The possibility of earning XRP through credit card spending has generated enthusiasm among Ripple supporters. Gemini’s credit card, offering cashback in XRP, is one of the few mainstream financial tools directly backing the cryptocurrency. This development suggests growing mainstream acceptance for XRP, especially following Ripple’s legal victory, which clarified that XRP is not necessarily a security when traded on secondary platforms.

However, there is significant skepticism surrounding Winklevoss’s endorsement. Many long-standing Ripple supporters recall Gemini’s reluctance to list XRP for several years, citing regulatory uncertainty as the primary reason. The exchange only included XRP in 2023, after a court decision. Some view Winklevoss’s recent support as opportunistic rather than a genuine belief in XRP’s future prospects.

Winklevoss’s past criticism of the XRP community has also resurfaced, fueling ongoing skepticism. In 2020, he publicly attacked XRP holders, describing some as “dumb trolls” due to their stance against the SEC. Many within the community have not forgotten these statements, leading some to question whether Gemini’s promotion of XRP rewards is motivated solely by profit. Others noted his opposition to including XRP in the U.S. crypto reserve, further increasing suspicion among Ripple followers.

The timing of Winklevoss’s statement is notable, as it comes after the resolution of Ripple’s legal troubles. A positive ruling has enhanced XRP’s credibility and increased its market valuation, making it more appealing to financial organizations and investors. This backdrop has prompted speculation that Gemini’s renewed interest in XRP is directly connected to Ripple prevailing in its court proceedings. While the exchange’s support for XRP marks a beneficial step toward broader adoption, many traders maintain a cautious outlook.

Winklevoss’s public backing of XRP rewards signifies a notable development in the industry while also revealing deep-seated tensions. Although Gemini’s credit card plan represents progress toward greater XRP integration into financial systems, earlier disagreements and doubts about underlying motives continue to influence the conversation. After the Ripple legal victory, XRP’s trajectory appears quite promising overall. Nevertheless, whether the community will completely accept Winklevoss’s most recent initiative remains unclear.