10 months ago
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Ripple CEO Brad Garlinghouse has come under fire following his recent comments about Dogecoin (DOGE). Garlinghouse had made these remarks during a back-and-forth conversation that he had with the meme coin’s co-founder on the X (formerly Twitter) platform.
Garlinghouse Compares Dogecoin To Zimbabwean Dollar
Brad Garlinhouse compared DOGE to the Zimbabwean dollar as he suggested that the meme coin was more on a level with that currency rather than the Euro or even the Japanese Yen. The Ripple CEO’s comment came in response to Billy Markus’ (also known as Shibetoshi Nakamoto) now-deleted X post where he tried to defend DOGE’s utility.
Markus insinuated that the meme coin was similar to Bitcoin, stating that DOGE was “essentially” the same thing as BTC. He made a further analogy using the Euro and Yen, suggesting that there was no need to put down one token because another served a greater purpose.
Following the ‘Zimbabwean Dollar’ remark, some members of the crypto community jumped to the defense of Dogecoin. One X user, in particular, told Garlinghouse to stay in his lane and not talk about other coins. Another user suggested that the Ripple CEO wasn’t meant to be making such comments, considering XRP’s stagnant price action, and went as far as calling him a “scammer.”
In a now-deleted X post, Shibetoshi also called Garlinghouse “an idiot.” He went ahead to label the Ripple CEO “a retard” who was simply making up analogies to suit his narrative. In the earlier post where he compared DOGE to Bitcoin, Markus also didn’t hold back then, as he remarked that Garlinghouse was just trying to sound smart when he made his earlier comments.
The Genesis
Markus’ initial outrage was sparked by Garlinghouse’s statements on the “Clear-Eyed about Crypto” panel at the World Economic Forum (WEF). During the panel discussion, The Ripple CEO shared his belief that tokens like Dogecoin had no real-life utility and that he didn’t really understand what value they provided.
Garlinghouse also suggested that tokens like Doge were eventually going to fade away as he said that there would eventually be a separation of the “wheat from the chaff.” The Ripple CEO comparing Dogecoin to the Zimbabwean dollar once again highlighted the notion that he has on the meme coin. For context, the currency is one of the lowest-valued currencies in the world.
It is unclear why Billy Markus deleted his posts. However, it is clear that Garlinghouse’s comments really upset him, as the Ripple CEO revealed that the Dogecoin co-founder had blocked him on the X platform.
Featured image from Dailyhunt, chart from Tradingview.com
