Tony Vays‘ review came after Bitstamp removed the asset from its platform
One of the world’s largest cryptomorphic brokers, Bitstamp, suspended trading with XRP after the US Securities and Exchange Commission (SEC) sued Ripple for selling unauthorised securities. After the broker announced the removal of the currency, Tony Vays, a cryptomime industry veteran celebrated: „This, expurgate the XRP coup.
XRP is currently one of the world’s most hated cryptomorphs, while being the third most valuable. The community often criticizes the asset for being centralized. Tony Vays is the latest crypto personality to attack digital currency.
In the last few days XRP has suffered a shower of criticism, starting with Adam Back, developer of Bitcoin who called XRP a coup and said that only idiots buy.
Then Messari’s CEO said in a report that XRP is rubbish and only idiots buy. And more recently, Vitalik Buterin, the founder of Ethereum called the currency „shitcoin.
Tony Vays‘ criticism came after Bitstamp removed the asset from its platform, the company explained in a tweet that it will closely monitor the SEC’s process to decide whether to resume trading or remove it for good:
„In light of the recent SEC case against Ripple, which claims that XRP is a security, we will stop all XRP trades and deposits for our clients in the US on January 8, 2021 at 9pm UTC. We will closely monitor the situation and continue to adapt“.
The SEC claims that Ripple „has raised US$1.3 billion in funds since 2013 through the sale of XRP in an unregistered bond offering to investors in the United States and around the world.
Because the currency is centralized, its founders, Larsen and Garlinghouse, would have raised more than $600 million through the sale of the assets on a personal basis, i.e., they sold their own currencies.
That is why the currency is considered „rubbish“ by several analysts. The company’s founders are accused of dumping tokens in the market for investors who believe the asset will appreciate in value.
The currency is different from Bitcoin, which is decentralized and has limited supply.
Tone Vays is a Wall Street veteran and an expert on economic trends and a crypto currency analyst. Vays has been a Bitcoin enthusiast since 2013, he is the founder of CryptoSCam, a podcast that reports fraud in the cryptomime market.