- The pseudonymous Vincent Van Code, a popular and vocal member of the crypto community, claimed that if XRP is indeed a scam, it would be the biggest heist in history.
- The AI startup founder and Ripple CTO David Schwartz shared the same thoughts on combating the constant fake news and other forms of misinformation plaguing the XRP ecosystem.
The pseudonymous Vincent Van Code, one of the regularly trending personalities in the crypto community, previously announced that he was resigning from his role of trying to convince people about how XRP would be adopted globally. However, he recently fired back at the FUD (Fear, Doubt, Uncertainty) constantly directed at the token.
The software engineer and AI (artificial intelligence) startup founder, recognized in social media circles for his profound insights on XRP and the broader crypto community, addressed the FUD claiming “XRP is a scam” in one of his latest posts. According to him, individuals who are hurling such unfounded allegations that the token and Ripple (the company aligned to it in its payment, infrastructure, and custody solutions) are a fraud are “1,000% scamming and FUDing people themselves.”
Why XRP or Ripple is Not a Scam
Van Code highlighted that the argument undermines Ripple’s dynamic workforce, which comprises over 1,000 heads. Additionally, he reminded people that XRP has $6.13 billion in market cap as it trades around $2.44 on the morning of November 11, with a Fully Diluted Value (FDV) of $244 billion. Users also utilize the token to power billions of payments.
Moreover, one must not overlook the fact that Ripple is regulatory-compliant. This is why various financial institutions are building and developing their products and services on the company and the XRP Ledger’s (XRPL) infrastructure.
The software engineer emphasized that if XRP or Ripple is indeed a scam, then it would be the greatest heist in human history. In fact, it could even be bigger than the scheme run by Strategy (MicroStrategy).
Van Code advised that people should do better and urged the XRP community to mute or cancel shills who have no credibility and are obviously spewing fake news.
How Ripple Addresses FUD and Fake News
Speaking of fake news, Ripple CTO David Schwartz earlier revealed how they tackle misinformation, especially during the pendency of their company’s case with the US Securities and Exchange Commission (SEC). The exec admitted how these factors significantly dampen market sentiment and create volatility.
Schwartz’s thoughts mirrored Van Code’s recommendation. He pointed out that the best way to combat fake news peddlers would be to ignore them. After all, they thrive in engagement, and any amplification of their platform, whether by feeding or correcting their FUD, would benefit them.
Furthermore, the Ripple CTO criticized how their company allows just about anyone to get backstage passes to Swell events. He said that such leniency often gives even bad influencers validation, which they leverage to build more exposure for their platforms and attract more gullible followers.
Disclaimer: The facts presented in this article are only for informational purposes. They do not serve as financial advice or product recommendations from the author or the Blockzeit team.
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