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Vitalik Buterin Claims XRP Has Lost Its Right To Be Protected

In a recent tweet, Vitalik Buterin claimed that XRP, the sixth largest cryptocurrency, lost its protections after Ripple attempted to sacrifice Ethereum for allegedly being “controlled by China.”

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The Ethereum co-founder says he is happy that people are fighting new regulations targeting Ethereum and other legal cryptocurrencies. According to Buterin, the Ethereum community is expressing their displeasure, even though ETH, in its privileged position, is unaffected by the new rules.

His tweet came in response to the move by Newton and Bitbuy, two crypto exchanges based in Ontario, Canada, to enforce a C$30,000 (US$23,100) “buy limit” annually for all available cryptocurrencies except Bitcoin, Ethereum, and a few other altcoins.

“If they had restricted XRP I wouldn’t have said anything,” quipped Bankless co-founder David Hoffman.

Back in December 2020, Buterin criticized Ripple for ‘putting rocks down the well’ in trying to label Bitcoin and Ethereum as “controlled by China” simply because the country accounts for the majority of the global hashrate.

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Buterin’s most recent anti-XRP comment drew a lot of criticism from the token’s community.

Ripple CTO David Schwartz has accused the Ethereum community of trying to get the government to punish projects that disagree with its plot. XRP Ledger Architect believes that the comparison between miners in the Proof-of-work system and company shareholders is “completely reasonable”.

John Deaton, the managing partner of Deaton Law Firm, also responded to Buterin that “innocent” XRP holders have nothing to do with Ripple.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.