Messari Founder Goes Inspector Blockchain, Talks About Ripple's Fact Manipulation in Q1 Report

It is no secret that Ripple is a controversial company. Despite being one of the most powerful players in the blockchain industry, it is often in the middle of problems as it is accused of being too centralized all the time.

The reason for that is that the token created by Ripple, XRP, is the third largest asset by market cap and a very relevant token in the market, but Ripple holds a large sum of it, so people are often uncomfortable with this and some have even called it a security token, a battle that Ripple had to fight in court.

During the latest report made by the company, Ripple talked about its Q1 2019 period and also about the number of tokens which were taken from the company’s escrows in order to go out in the world. According to the report, only 0.32% of the XRP sales were made by Ripple as three billion tokens were released from the escrows and 2.3 billion returned to it.

Messi Founder Disagrees With Ripple

Not everybody agrees with the report, however. Ryan Selkis, the founder of Messari Crypto, has decided to argue that the company led by Brad Garglinghouse was hiding some facts and inflating volumes in order to manipulate the data to obfuscate its power and influence in the XRP market.

He complained that the company did not disclose typical terms of enterprise sales like restrictions and discounts, raised more money via token sales than Filecoin, Tezos and Dfinity and that it has used an inflated volume.

Selkis said that the volumes were taken out of CoinMarketCap, which was often criticized for not providing accurate information about XRP tokens. The data aggregator has even agreed that some of its statistics may not represent reality very well, on occasion.

Carlyne Chan, the global head of marketing at the company, has affirmed that the goal of CMC is to provide as much information as possible, not to curate that information. People can see the data and take their own conclusions, which is just what Ripple did.

Ripple continues to be on the spotlight after David Schwartz, the CTO of the company, sold all his XRP last week. It was not very good for the image of the company and people got unhappy with it.

Get Free Email Updates!

*Action Required* Enter Your Email for Trending Crypto News & Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Coin Market Cap Price Change 24 Hour Volume
BTC $156.08B $8,805.3721 10.75% $8.63B
ETH $28.5B $268.3044 8.27% $3.08B
XRP $17.32B $0.4111 8.50% $741.11M
BCH $7.74B $434.9674 9.84% $634.19M
LTC $7.09B $114.4981 13.75% $1.39B
EOS $6.44B $7.0565 12.35% $992.65M
BNB $4.84B $34.2570 4.59% $335.71M
USDT $3.09B $1.0033 -0.04% $7.66B
XLM $2.56B $0.1329 8.71% $67.32M
ADA $2.23B $0.0859 8.81% $87.14M

Get 3 Free Bitcoin eBooks for Limited Time Only

Receive three exclusive user guides detailing a) What is Bitcoin b) How Cryptocurrency Works and c) Top Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here