CoinMarketCap called Ripple an “impostor” cryptocurrency

The aggregator platform referred to the asset being “controlled and governed by authorities”

30.04.2022 - 08:45

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2 min

The aggregator platform referred to the asset being “controlled and governed by authorities.”

What’s new? The Twitter account of CoinMarketCap (CMC), a crypto asset data aggregator platform, has posted that Ripple (XRP) is an “impostor” cryptocurrency. The post states that XRP does not have the qualities of a real cryptocurrency as it is “controlled and governed by authorities.”

Community reaction. The tweet sparked a heated discussion among users and discontent from the Ripple community. They claim that CMC is biased against this cryptocurrency.

Source: Twitter.com

CMC later deleted its tweet and issued an apology. The company said that “a new team member was not familiar enough with our policy on commenting on other projects.”

Source: Twitter.com

What is Ripple? It is a blockchain network created in 2012 by Ripple Labs for currency exchange and transactions. The protocol is used by government financial institutions in Australia, Canada, and Israel.

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