Best-selling Author Claims JP Morgan, Federal Reserve & Ethereum Colluded to Harm XRP

A notable XRP community member and best-selling author allege that the U.S. Federal Reserve, J.P. Morgan, and Ethereum colluded to harm XRP.

Linda Jones, a prominent figure in the XRP community, recently made a series of allegations that have drawn the attention of crypto proponents. This comes shortly after reports uncovered a connection between Ethereum, China, and Prometheum.

In a tweet, Jones claimed that pioneers in the crypto industry, including Ethereum founder Vitalik Buterin and individuals associated with Tron, were sent by the Federal Reserve and China when they appeared at Ripple’s office as interns and employees.

In the early days, Buterin, Tron and other people appeared at the Ripple office as interns and employees. It now appears they were sent by the Fed and China. https://t.co/qaSAl3XodL

The Fed banks knew Ripple would create a level playing field which would take their power 1/8

— Linda P. Jones (@LindaPJones) June 23, 2023

Recall that, in April, Matt Hamilton, a former Ripple Director, claimed that Buterin sought an internship role in Ripple, as previously disclosed by The Crypto Basic. 

Plans to Make XRP Irrelevant?

Jones asserts that the Federal Reserve banks were aware of the capacity of Ripple’s technology to establish a fair and equitable environment, thereby posing a threat to their authority and significance within the financial sphere.

She alleged that to counteract this threat, they launched “Project North Star” to build a crypto ecosystem. The approach involved creating a “safe harbor” where their asset would gain an advantage over XRP by asserting its sufficient decentralization while branding XRP as centralized.

It bears mentioning that the recently-released Hinman documents reveal a sort of concentration on Ethereum. Industry leaders speculate that Bill Hinman’s aim might have been about giving Ethereum a free pass. A J.P. Morgan paper asserted that the release of Hinman docs was a “boost to Ethereum.”

Jones suggested linking Vitalik Buterin and J.P. Morgan, the esteemed banking institution. She alleged that Buterin and a consortium of investors raised a significant sum of capital through an Initial Coin Offering (ICO) to launch Ethereum.

Jones called attention to a Protos article from March 2022 which detailed that J.P. Morgan controls and profits from Meta Mask and Infura. These two protocols represent Ethereum’s fundamental infrastructure.

In an intriguing twist, Jones pointed out that while Jamie Dimon, J.P. Morgan’s CEO, publicly denounced Bitcoin as a fraud, the same bank secretly developed its cryptocurrency. Notably, J.P. Morgan launched its digital asset Onyx in 2020. However, Buffett remains one of the most vocal crypto critics.

This apparent contradiction, she alleged, was a deliberate attempt to divert attention from their activities and gain an advantage in the crypto market.

Jones also pointed out JP Morgan’s acquisition of a stake in Consensys, Meta Mask, and Infura. She alleged that the bank created Onyx to position it as a competitor to XRP and Ethereum.

The US Regulatory Uncertainty

The lack of comprehensive crypto regulations in the U.S. became another point of contention for Jones. She claimed that Congress and the Securities and Exchange Commission (SEC) deliberately avoided passing laws related to cryptocurrencies.

According to her, this regulatory uncertainty is a deliberate attempt to allow Wall Street and banking institutions to manipulate the markets and generate enormous profits through practices like price manipulation and insider trading.

Jones alleged that one such manipulation involving Consensys would be exposed by an ongoing audit in Switzerland, which is investigating the illegal transfer of Consensys into Consensys Software Inc.

It is important to note that these allegations made by Linda Jones remain speculative at this stage. However, they serve as a reminder of the complex dynamics within the crypto ecosystem and the ongoing debate surrounding regulations and the involvement of traditional financial institutions.