Recent attack on the most prominent meme coin, Dogecoin, Ripple CEO Brad Garlinghouse made during his Consensus conference speech Garlinghouse expressed uncertainty on the value of Dogecoin for the sector, stating:
“I don’t think Dogecoin has been a helpful thing for the industry. Though I’m not anti-Dogecoin, it’s like…I’m not sure what the use case is.” He stressed the need of utility in numerous domains.
Garlinghouse had also targeted Dogecoin before this. Noting “Other than Elon Musk as the central actor, I don’t see the use case and purpose,” he also questioned its significance at the World Economic Forum in January.
Ripple CEO Faces Industry Criticism
The Dogecoin community responded severely to this assertion, with co-founder Billy Markus defending the coin and arguing that, except from its mascot and limitations, it is basically like Bitcoin.
Earlier this month, Garlinghouse also came under fire from Tether CEO Paolo Ardoino for suggesting that Tether was inside US government’s crosshairs. Garlinghouse later on said he had no intention of harming the most important stablecoin source.
Garlinghouse further predicted that the SEC would eventually approve exchange-traded funds (ETFs) for many altcoins, including Ripple token , therefore characterizing such a legislative shift as “inevitable.” He also urged US authorities to draft particular policies tailored for the cryptocurrency industry.
