XRP News Today: Ripple CTO Challenges Caitlin Long's Centralization Claims on XRP and XRPL

Ripple CTO David Schwartz has engaged in a public exchange with Custodia Bank CEO Caitlin Long over the decentralization of XRP and the company’s broader strategic direction. Long, in a recent podcast appearance, criticized Ripple’s early funding model as akin to an ICO and argued that it undermined institutional trust in the XRP Ledger (XRPL) and its stablecoin, RLUSD. She also questioned Ripple’s ability to replace legacy financial systems like SWIFT and suggested that the U.S. Treasury would likely favor Ethereum for tokenizing Treasury bills due to its maturity and adoption [1].

In response, an XRP community representative known as Vet quickly challenged Long’s claims on social media, emphasizing that XRP was not launched as an ICO and had no intrinsic value at inception. Vet pointed to the ledger’s 1,000+ nodes and 100+ independent validators as evidence of decentralization, and highlighted features such as a native decentralized exchange and tokenization capabilities [1].

David Schwartz, Ripple’s CTO, later joined the conversation on X, acknowledging that the community had already begun to correct Long’s “basic” factual claims. He extended an invitation to Long for a direct and open dialogue about Ripple, RLUSD, the XRPL, and XRP, aiming to clarify the company’s position and address the broader debate [1].

The debate has drawn significant attention from the crypto community, with social media platforms reflecting a mix of support and criticism. Analysts note that such public disagreements underscore the ongoing challenges in the adoption of blockchain technology, particularly around issues of decentralization, institutional trust, and market viability. Long’s remarks have also reignited discussions about Ripple’s approach to integrating decentralized technology with traditional financial infrastructure.

The exchange reflects broader tensions within the cryptocurrency industry, where competing visions for the future of decentralized finance remain a central theme. Ripple’s strategy has long been a subject of scrutiny, especially in the context of ongoing legal and regulatory challenges in the United States. While the debate has not triggered new regulatory actions, it has contributed to a broader conversation about the direction of blockchain innovation and the evolving role of major players in the space [1].

Source: [1] Ripple CTO Jumps Into The Fray After Caitlin Long Bashes XRP With Centralization Claims (https://bitcoinist.com/ripple-cto-jumps-into-the-fray-after-caitlin-long-bashes-xrp-with-centralization-claims/)