Ripple’s Story Of XRP Cryptocurrency Coin Creation Changes From Years 2013 To 2018
Ripple’s Story Of $XRP Creation Changes
Behind bitcoin is $XRP, which is currently carrying a $14.2 billion market cap. Interestingly enough, the cryptocurrency has fared well during the down market and it even has achieved the best-performing large market cap.
Given the cryptocurrency’s positive performance, many have been taking a closer look at Ripple in general. In 2013, the platform stated that it had created “100 billion XRP within the Ripple network, and that amount will never increase.” Five years later, the platform’s narrative on the cryptocurrency seemed to have changed. The platform stated that Ripple “didn’t create XRP; 100 billion XRP was created before the company was formed.” Of course, it would defy logic for both narratives to be true. The duel-story telling certainly is not useful for the platform, especially in light of the SEC’s more recent scrutiny of cryptocurrencies.
The SEC has looked at many cryptocurrencies and found them to be “unregistered securities.” According to Stephan Palley, such a designation implies that “tokens that fit within he Howey rubric are securities.”
CEO Mike Dudas of The Block analyzed on Twitter the connection between Ripple and $XRP and the changing story over the years. He then took a look at Ripple’s actions over time concerning XRP and how it operates within the structure of the Howey Test. Those who are interested in reviewing the entire thread of Twitter.