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HomeCrypto NewsMarketLedger Says It Proudly Supports XRP, Disowns Its CEO Disparaging Comments About...

Ledger Says It Proudly Supports XRP, Disowns Its CEO Disparaging Comments About Ripple

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Ledger Says Its CEO Disparaging Comments About Ripple (XRP) Doesn’t Reflect Company’s View.

Ledger declares its support for XRP and distances itself from the comment made by the company’s CEO.

Since the beginning of the ongoing lawsuit between Ripple and the SEC, the blockchain company has come under heavy criticism from a few stakeholders of the cryptocurrency industry.

Eric Larchevêque, the co-founder of popular hardware wallet Ledger, recently joined other Ripple critics to slam the Silicon Valley tech company. In a recent video on the social media platform TikTok, Larchevêque called Ripple (XRP) a centralized shitcoin that does not deserve to be called a cryptocurrency. Larchevêque, who spoke in French in the semi-viral video, put XRP on the same level as LUNA, a token created by Terra which suffered a tremendous collapse earlier this year. With Larchevêque saying XRP is similar to LUNA, the Ledger CEO indirectly suggested that Ripple will also collapse like Terra in the future. 

The video has continued to spark outrage in the Ripple community, as some XRP holders said they would stop using Ledger as their favorite crypto storage device. 

Ledger Distances Itself from Its CEO

Seeing the damage the video has caused, the Ledger team took to Twitter to disassociate itself from the comments made by its co-founder. Ledger noted that Larchevêque’s comment about XRP does not reflect the company’s views.

“Hey, there – these comments do not reflect our views. We are chain agnostic and welcome the XRP community here at Ledger,” the cryptocurrency hardware wallet solution said.

Ledger noted that it proudly supports XRP on Ledger Live, allowing its users to buy and swap cryptocurrency.

Ripple Focused on Lawsuit Despite Criticism

The development marks the latest round of criticism Ripple has faced from top crypto stakeholders. The Silicon Valley tech company was recently criticized by Ethereum co-founder Vitalik Buterin, as well as Cardano founder Charles Hoskinson. However, Ripple has not allowed any criticism to get under its skin as it focuses on the lawsuit against the Securities and Exchange Commission.  

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Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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