December 2, 2020

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Luke Martin: Ripple survives only due to premined XRP

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Luke Martin: Ripple survives only due to premined XRP

Ripple is one of the largest fïntech companies in the world. With $ 10 billion in capitalization, Forbes and other mainstream media write about it, attracting more and more investors.

 

Yet there are critics like Luke Martin, who see the success of the regular XRP sales. One such sale came yesterday before and the community did not leave it cold.

 

Ripple, but not XRP

 

Luke Martin claims. that although the company is trying to distance itself from the cryptocurrency and takes it as a side project to its blockchain, XRP is still an important source of revenue. This is also evidenced by regular sales of premined cryptocurrencies.

 

The respected US Financial Times magazine recently published an article in which analysts focus on gray zones in financing the entire giant. They found the biggest problem with Ripple’s conflicting relationship with XRP.

 

Namely, they were intrigued by the August interview with CEO of this company finty, Brad Garlinghouse. He admitted in an interview that the company would not be profitable without divestments. This would mean a great loss of confidence among investors who rely on partial self-sufficiency due to premined cryptocurrency.

 

CEO Brad Garlinghouse said in an interview:

 

“We wouldn’t be profitable without divesting XRP. Our turnover wouldn’t look good either.”

 

Summary

 

However, the company regulates selling. Since 2019, the amounts have been slowly decreasing as prices have increased.

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