- The confrontation led to Billy Markus, the co-founder of DOGE, deleting the original posts and blocking Ripple CEO Brad Garlinghouse and other users on the X platform.
- Garlinghouse is confident the US SEC Chair Gary Gensler will be evicted from his position as the US prepares to adopt a clear crypto regulatory framework.
Ripple Labs Chief Executive Officer, Brad Garlinghouse, engaged in an online heated confrontation with Billy Markus, alias Shibetoshi Nakamoto, the co-founder of Dogecoin (DOGE), the leading meme coin with a market cap of about $11 billion.
Although Markus had deleted the X posts in the conversation with Garlinghouse and blocked him, it is evident that the two differ on the crypto tokenomics of different crypto assets and their respective inflation rate.
Markus was referring to a Garlinghouse speech at the World Economic Forum, where he insisted that DOGE does not have a real-world use case apart from the support from Elon Musk. The conversation between Markus and Garlinghouse further touched on the US dollar being similar to the Zimbabwean dollar.
I understand the point you are making and agree with the point in some ways – but a more apt comparison would be the USD to the Zimbabwean Dollar.
— Brad Garlinghouse (@bgarlinghouse) January 22, 2024
Closer Look at DOGE Price Action
The performance of most altcoins has been mirroring Bitcoin (BTC) in the past week amid heightened selling pressure emanating from crypto whale traders. However, Dogecoin (DOGE) price has been well bolstered by the recent announcement of the X payments launch later this year.
DOGE has received immense support from tech billionaire Elon Musk, and the Dogecoin holders continue to speculate on its integration with the X platform for payments. Currently, the DOGE price is attempting to rally beyond the crucial resistance level of around 10 cents, which coincides with the weekly 200 Moving Average (MA).
Dogecoin price has been consolidating in a triangular pattern in the past two years and is now approaching the apex of an inevitable breakout. According to the latest market data, the Dogecoin price gained about 3 percent in the past five days to trade at No coins selected.
XRP Market Outlook
Ripple-backed XRP has faced notable headwinds in the past three years triggered by the legal action filed by the United States SEC. Although the SEC has largely lost the case against Ripple, the latest motion filed to Magistrate Judge Sarah Netburn shows that the agency is determined to unearth the Ripple transaction regarding XRP sales to institutional investors after the class action lawsuit was filed in 2020. Notably, the
The SEC has argued that the periodic XRP sales in the past two years have violated securities laws and should be included in the upcoming trial. However, Ripple has challenged the idea as Judge Analisa Torres has already made summary judgment, and the interlocutory appeal filed by the SEC was denied.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed its Reply in Further Support of its Motion to Compel.https://t.co/XsJkh6H6g8
— James K. Filan
(@FilanLaw) January 24, 2024
Meanwhile, XRP price has suffered low buying pressure amid heightened whale selling pressure. According to the latest market data, XRP price has dropped below the crucial support level of around 54 cents to trade at
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