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Brad Garlinghouse criticized Dogecoin

Ripple CEO Brad Garlinghouse criticized the Dogecoin (DOGE) memcoin during a speech at the Consensus 2024 conference, which was held in Austin, Texas, USA at the end of May.

Garlinghouse stated that DOGE makes no practical contribution to the industry and has grown solely through speculation.

“I don’t think Dogecoin has brought any benefit to the industry. No, I’m not against Dogecoin, but I don’t know where to use it,” said the Ripple CEO.

In his speech, the head of Ripple emphasized that cryptoassets should be aimed at solving certain problems. He questioned the contribution of memcoin to the industry and suggested that this asset class is an obstacle to the further development of the ecosystem.

“For me, the long-term forecast should be focused on utility, not speculation. We should be talking about solving real problems,” the expert said.

This is not the first time the Ripple CEO has criticized Dogecoin and memcoins in general. In January 2024, he compared the DOGE token to the Zimbabwean dollar and stated the need to structure the industry.

In addition, Garlinghouse called billionaire Elon Musk a “central actor” in the memcoin market. His activities significantly helped promote these assets, the entrepreneur believes.

In September 2023, WSJ journalists stated that Musk secretly financed the development of Dogecoin. The entrepreneur’s thematic publications on X (formerly Twitter) have repeatedly contributed to the growth of this memecoin.


Source: Cryptocurrency

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Brad Garlinghouse criticized Dogecoin
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Brad Garlinghouse criticized Dogecoin

Ripple CEO Brad Garlinghouse criticized the Dogecoin (DOGE) memcoin during a speech at the Consensus 2024 conference, which was held

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