XRP News Today: Ripple defends XRP decentralization amid Caitlin Long's institutional trust concerns

Ripple has responded to criticisms from Caitlin Long, CEO of Custodia Bank, regarding the decentralization of XRP and its institutional credibility. Long has raised concerns about XRP’s structure, suggesting it lacks the decentralized integrity seen in other cryptocurrencies and is not trusted by institutional investors. In response, Ripple’s CTO, David Schwartz, reiterated that XRP was never launched through an Initial Coin Offering (ICO) and that its initial 100 billion tokens were created in a Genesis account without public fundraising [1]. He emphasized that XRP was not sold to raise capital and was distributed freely, distinguishing its model from Ethereum’s ICO-based launch [2].

The debate also extended to Ripple’s RLUSD stablecoin, which operates on both Ethereum and the XRP Ledger. Long questioned the company’s rationale for using Ethereum, implying that it undermined the XRP Ledger’s role as a core infrastructure. A prominent XRP Ledger validator defended the decision, stating that RLUSD’s dual operation on multiple networks enhances its usability and compatibility while not compromising the XRP Ledger’s ongoing development [3]. The validator noted that the XRP Ledger continues to receive updates and supports features such as a decentralized exchange and tokenization tools, which have been part of the network since its inception.

Long’s criticisms also highlighted the lack of institutional trust in XRP due to perceived centralization risks. She argued that the network is overly centralized and questioned its long-term value. Ripple, however, counters by emphasizing its decentralized validator network, which includes over 1,000 independent nodes and more than 100 validators that operate outside Ripple’s control. These validators ensure technical transparency and allow broad participation in the network [4].

The ongoing public debate has reignited discussions about XRP’s design and its relevance in the evolving crypto landscape. While Ripple continues to defend the token’s decentralized nature and infrastructure, critics like Long remain skeptical about its structure and institutional adoption. Ripple’s leadership has invited further dialogue to clarify misconceptions and promote a more transparent understanding of XRP’s role in global finance.

Source: [1] Ripple Defends XRP’s Decentralization Amid Caitlin Long’s Critiques on Structure and Institutional Trust (https://en.coinotag.com/ripple-defends-xrps-decentralization-amid-caitlin-longs-critiques-on-structure-and-institutional-trust/)