Ripple is not behind bitcoin’s energy use FUD, says Ripple CEO.

Ripple CEO Brad Garlinghouse has denied that the blockchain company is behind bitcoin energy consumption FUD that is going on.

Ripple CEO Brad Garlinghouse recently responded to the blockchain company’s accusations of spreading Bitcoin energy usage FUD. In a recent reply to Meltem Demirors, Chief Strategy Officer at CoinShares, Garlinghouse said: “It’s beyond flattering that you think Ripple is the puppet master behind Elon Musk, countless scientists, governments, crypto enthusiasts, and others who have stated the facts about BTC’s energy use.” However, Ripple CEO maintained his stance on massive bitcoin energy consumption. 

 

“We have the tools to make crypto 100% renewable AND reach its full potential.”

Earlier this month, Elon Musk criticized Bitcoin for its energy consumption despite the fact that Tesla holds the world’s largest cryptocurrency. BTC and other digital currencies dropped significantly after Musk’s statements. Earlier, Ripple CEO had said, “We have the tools to make crypto 100% renewable AND reach its full potential. Let’s focus on the solutions to change the opinion of Janet Yellen, Bill Gates, and countless others who have pointed out concerns about energy usage instead of accusing me of FUD.” 

 

Garlinghouse remained vocal about his views on Bitcoin and its energy consumption. 

Ripple CEO Brad Garlinghouse has remained vocal about his views on Bitcoin and its energy consumption during the last few months. The blockchain firm has formed several partnerships since the start of this year. Despite the reason that Ripple is currently facing a lawsuit filed by the US Securities and Exchange Commission (SEC) for selling unlicensed securities in the form of XRP, the San Francisco-based blockchain company has accelerated its global partnerships in recent months. As reported earlier, Ripple acquired a 40% stake in Tranglo, one of the largest cross-border payment firms in Asia. Last week, the blockchain company announced a partnership with the National Bank of Egypt and Dubai’s Lulu Exchange.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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