Former US Treasurer Lauds XRP As The Only Cryptocurrency With Real Intrinsic Value

Rosie Rios has critiqued other cryptocurrencies, equating them to only speculative assets whose value is only dependent upon suppositious grounds as opposed to XRP.

According to a tweet posted on Sunday, the former treasurer of the United States lauded XRP, positing that it was the only cryptocurrency with real use-case as opposed to other cryptocurrencies, pointing at how the recent FUD created by recent Chinese crypto bans affected the crypto market.

Despite XRP, the native coin for Ripple being ideally suited for global payments because it is quicker, less costly, more scalable, and sustainable than any other digital asset, her tweet was received with a fair share of criticism, with various respondents viewing her sentiments as only driven by the fact that she is an employee at Ripple.

In May, the former treasurer in Obama’s government was appointed as a board member of  San Franciso-based blockchain and cryptocurrency solutions firm Ripple. This appointment was widely seen as Ripple’s way of reinforcing its regulatory brainpower amid the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) with Ripple’s C.E.O Brad Garlington saying;

“Rosie’s experience in the public and private sectors provides an invaluable perspective to Ripple, especially during this time as the industry works to define crypto’s future.”

Recently, Ripple C.E.O in an Interview with Fox Business expressed the firm’s intention to settle its legal battle with the SEC once the regulator gives a clear definition of XRP’s regulatory status.

“To the extent, we can find a constructive path forward with the SEC, we, of course, want to find that. There’s no scenario though that we’re going to settle unless there’s absolute certainty about what XRP is on a go-forward basis.

He noted that unlike Gensler’s recent comments equating the crypto industry to the “wild west”, the industry was already regulated significantly arguing that XRP was not a security.

Crypto and blockchain firms in race to hire top Ex-regulators

Amid ongoing regulatory moves to tame the “wild west”, major firms and exchanges have been absorbing ex-regulators at an unpreceded rate in a bid to cushion themselves or create a smooth relationship with regulators.

Exchanges such as Binance have in the past hired former acting Comptroller of U.S. Brian Brooks (who has since resigned), IRS criminal investigator Greg Monahan, Senate Finance Committee chair Max Baucus among others. 

Fireblocks, a $2 Billion all-in-one crypto platform for building digital asset businesses has also hired former SEC chair, Jay Clayton, to join its advisory board as Ripple took in Former SEC Chair Mary Jo White to defend its ongoing suit. Most of these hires have changed tongue and now vouch for cryptocurrencies contrary to their former anti-crypto narratives.