 
 
Jason Calacanis, a outstanding angel investor and web entrepreneur, has slammed Ripple’s XRP, labeling it a “centrally managed safety.”
Calacanis advised that the potential greenlighting of spot US-based XRP exchange-traded funds (ETFs) will make securities legal guidelines nugatory. Notably, some asset managers just lately obtained the preliminary nod from the U.S. Securities and Trade Fee to listing XRP ETFs on Wall Avenue.
XRP Is The Reverse Of Bitcoin: Jason Calacanis
In accordance with a Feb. 17 X put up by the angel investor behind ridesharing app Uber and crypto buying and selling platform Robinhood, all cryptocurrency OGs he has talked to consider Ripple-promoted XRP is the alternative of Bitcoin (BTC).
“XRP is a centrally managed safety — is that even a query for anybody right here?”
Jason Calacanis defined that the introduction of spot XRP exchange-traded funds (ETFs) may result in full-scale “chaos” that might jeopardize america’ “steady and managed” markets.
 
“There will likely be chaos within the markets as one million startups, funds, and grifters begin dumping 50% of their cash on retail whereas slowly promoting the 50% they personal and management,” he opined.
In accordance with the veteran investor, XRP ought to solely be out there to stylish buyers who perceive how “harmful” investing in such a challenge is.
XRP Centralization Issues
Ripple’s XRP Ledger has lengthy been the topic of controversy within the cryptoverse as a consequence of its perceived centralization, with critics arguing {that a} handful of people and the XRPL Basis wield lots of management thus undermining the decentralized tenets championed by blockchain purists.
The XRP Ledger is undeniably extra centralized with regard to the variety of validators that safe its community. There are roughly 100 validators on the XRP — dramatically decrease than on Bitcoin, which is powered by greater than 1 million miners.
As well as, solely about 35 validators are on XRPL’s default Distinctive Node Record (UNL), that means lower than three dozen entities are accountable for protecting the community alive and dependable.
It’s price mentioning that in keeping with Ripple’s most up-to-date monetary disclosures, the blockchain funds agency holds some 4,485,366,320 XRP in liquid property. It additionally controls roughly 38 billion XRP at the moment in escrow.
In the meantime, Ripple has enthusiastically thrown its help behind the brand new President Donald Trump administration, with CEO Bradley Garlinghouse advocating for a U.S. digital asset reserve that might prominently function XRP.
At press time, XRP modified palms at $2.64.
