Fortune Skips Ripple & XRP on its Top 40 Crypto List.
XRP enthusiasts react as Ripple fails to make Fortune Crypto 40 list.
Leading Silicon Valley tech company Ripple did not make the list of “Fortune Crypto 40.” The development surprised many who expected Ripple to be among the top crypto projects on the list.
Fortune Crypto 40 List
Launched by the prominent media outlet Fortune, the Fortune Crypto 40 benchmark is an analysis-based list highlighting the top five cryptocurrency projects in eight categories.
The categories include Non-fungible tokens (NFTs), centralized finance (CeFi), traditional finance (TradFi), Data, Venture Capital, Infrastructure, Protocols, and decentralized finance (DeFi).
The Fortune Crypto 40 inaugural benchmark edition was released yesterday, with Ethereum leading the Crypto protocols category, while Bitcoin, Polygon, Solana, and Offchain Labs followed suit.
Winners for crypto protocols—the labs, etc that make the biggest blockchains run—are:
— Jeff Roberts (@jeffjohnroberts) April 10, 2023
XRP Enthusiasts React
However, many cryptocurrency enthusiasts were stunned as Fortune excluded Ripple. Some members of the XRP community reacted angrily, calling out Fortune’s Crypto Editor Jeff Roberts for championing propaganda against Ripple.
This Fortune Clown Blocked Me. Pure Crypto Propaganda. @ripple not even on the list. pic.twitter.com/2f3fImMO3s
— Digital Asset Investor (@digitalassetbuy) April 11, 2023
Roberts Questions of deliberating not including XRP.
Possibly overlooked or deliberately left out XRP???
— David never fear (@David50701876) April 11, 2023
According to an article announcing the list, Fortune claims the result is impartial. Fortune added that it compiled the list from the results of various empirical metrics alongside a comprehensive survey involving more than 200 financial executives.
Despite Fortune’s claim, many XRP enthusiasts still find accepting the media outlet’s verdict difficult.
Ripple’s Efforts in the Financial Space
It bears mentioning that Ripple has been among the top cryptocurrency industry leaders. Ripple has been focused on releasing innovative solutions to facilitate cross-border settlements and payments.
Top financial institutions, including Bitso and FOMO Pay, have leveraged Ripple’s innovative solutions for cross-border settlements. Aside from private institutions, central banks worldwide have partnered with Ripple to develop digital currency pilots.
Last month, Brook Entwistle, Ripple’s Senior Vice President, said the company has partnered with over 20 central banks on CBDC development. Ripple’s latest CBDC partnership involves the Central Bank of Montenegro.
Despite Ripple’s commitment to enhancing the global payment industry, Fortune did not include the blockchain company in any categories. There is a tendency that the ongoing lawsuit between Ripple and the SEC may have influenced Fortune’s decision not to include the blockchain company in the Fortune Crypto 40.
Since the SEC charged Ripple in December 2020, several US-based firms, including Coinbase, have cut ties with Ripple-affiliated projects, including XRP, due to fear that the SEC might come after them if the court rules in its favor.
Fortune is an international business magazine headquartered in New York City.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.