Ripple CEO Lashes Out at Coindesk Over “Embarrassing” Article

Ripple’s CEO, Brad Garlinghouse, has vented his frustration at Coindesk for publishing what he deems as an “embarrassing” article about the company’s move into the stablecoin market. Garlinghouse criticized the article for its portrayal of Ripple’s decision as a desperate move. He called out the publication for its “childish antics” and accused it of tarnishing its reputation as a credible source of crypto industry news. The article in question suggested that Ripple’s recent stablecoin announcement signaled the demise of its controversial XRP token. It also hinted at the company’s potential desperation for a new revenue stream amidst its ongoing legal battle with the SEC. The article further highlighted Ripple’s struggles to gain traction with mainstream financial institutions for its On-Demand Liquidity solution and the alleged failure of its partnerships with Santander and MoneyGram. However, supporters of Ripple, known as the XRP community, rallied to defend the company, emphasizing its continued partnerships with major institutions like American Express and its consistent presence as one of the top cryptocurrencies in terms of market capitalization. They argued that Ripple is still actively seeking new opportunities and making strides in the industry.