Fox Journalist Hints to Investigate Federal Reserve XRP $30,000 Buyback Proposal

Fox journalist Eleanor Terrett recently hinted at a possible investigation of an earlier proposal suggesting the Federal Reserve could buy back XRP at $30,000 per token.

Terrett disclosed this while responding to Digital Asset Investor, a pseudonymous XRP community figure. Notably, Jimmy Vallee, Managing Director at Valhill Capital, recently asked former Ethereum advisor Steven Nerayoff if Terrett showed interest in Nerayoff’s exposé on Ethereum.

ETH Gate and the Ethereum DAO Hack 

Recall that the former Ethereum advisor surfaced with several allegations surrounding the Ethereum project and its founder, Vitalik Buterin, including claims that Buterin and other Ethereum co-founders “sabotaged” crypto and carried out fraudulent ICOs. 

Nerayoff, who had several stories to tell, could present his case on a large platform such as Fox for a wider reach. However, this has not materialized. Vallee’s recent inquiry aimed to bring the possibility of such a presentation back to the public’s attention.

In response, Digital Asset Investor pushed to have Nerayoff on Fox. According to the pseudonymous influencer, the multinational television channel should be interested in presenting the alleged story behind the Ethereum DAO hack being an insider job. 

It bears mentioning that the Ethereum DAO, launched in 2016, quickly became successful, attracting an investment of $150 million worth of ETH.

However, the DAO suffered a hack shortly after, leading to the loss of about $60 million in ETH. Some speculated that the hack was an inside job, but nothing has been proven.

Responding to Digital Asset Investor’s latest remarks on the incident, Eleanor Terrett emphasized that her list of stories to investigate this year contains the Ethereum DAO hack as well as the controversial ETH Gate theory.

Probe on the XRP $30K Buyback Proposal?

However, Terrett went further to mention that her list also contains the proposal suggesting that the U.S. Federal Reserve could buy back XRP at $30,000 per token. Interestingly, this proposal was presented by Jimmy Vallee in 2021. 

The DAO hack and ETH gate are on my list of potential fraud stories to look into this year, @digitalassetbuy, as well as a couple of others including a $30K per token Federal Reserve buyback for an asset that’s currently trading at 59 cents.

— Eleanor Terrett (@EleanorTerrett) January 4, 2024

Vallee had argued that XRP could become the global reserve currency amid the growing national debt. The theory suggests that the asset could displace the existing financial system, prompting a buyback by major financial institutions in government, such as the Federal Reserve.

According to the proposal, these instructions could buy back XRP from retail hands at a minimum rate of $37,500 per token. The theory also placed a maximum XRP rate of $50,000. Most XRP community members dismissed the proposal as wishful thinking.

Notably, Ripple CTO David Schwartz emphasized last February that, from all indications, the buyback proposal looks like a scam.

In addition, pro-XRP crypto lawyer John Deaton distanced himself from the proposal, which also aimed to present some compensation for his efforts in the Ripple vs. SEC lawsuit.

Following the negative reactions to the theory, the proposal died a natural death. However, Terrett’s recent comments have brought it back to the limelight.

XRP community figure Eri, who opposed the theory then, gave Terrett the green light to investigate the proposal, revealing her anticipation.

However, the seriousness of the Fox journalist’s recent statements is yet to be determined, leaving uncertainty as to whether they reflect a genuine perspective or merely constitute a clapback to ongoing calls and criticism.