TL;DR
Forbes labeled Ripple’s blockchain as ineffective and its token as purely speculative, questioning its utility and market value.
Charles Hoskinson and crypto supporters defended Ripple, making jokes with the media company’s report.
Forbes Takes Aim at Ripple (XRP)
The global media company Forbes recently published a report called “The Rise of Crypto’s Billion Dollar Zombies,” which touched upon numerous cryptocurrency protocols. It paid special attention to Ripple (the company behind the XRP token) and provided detailed information about its early days.
“To fund their ambitious project, executives at the company created 100 billion XRP tokens and sold $1.4 billion worth to the public. In early 2018, at the height of the first wave of crypto euphoria, XRP was trading with a market value of $132 billion, giving cofounder and executive chairman Chris Larsen a net worth of $8 billion.”
However, Forbes claimed that Ripple failed to meet its goal to improve the global f
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