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.
Ripple CEO Brad Garlinghouse
I get a ton of shit when i say these things but I’m going to say it anyway, I don’t think Dogecoin has been a good thing for the industry.It’s about solving real Problems. 🏁 pic.twitter.com/XMeEWaJz8O
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) May 31, 2024
Garlinghouse stated that DOGE makes no practical contribution to the industry and has grown solely through speculation.
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.
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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