Former U.S. Treasury Secretary Rosie Rios praises the popular altcoin XRP while criticizing other cryptocurrencies. Let’s examine Rosie Rios’ comments together…
Former US Treasury Secretary Rosie Rios praises popular altcoin XRP!
Former U.S. Treasury Undersecretary Rosie Rios recently used some laudatory words highlighting the benefit of XRP. Rosie Rios claims in her tweet that the digital currency tied to Ripple is used for cross-border payments and believes this sets it apart from other cryptocurrencies that are mainly useful for speculation. The former financier, whose name has been printed on billions of US-dollar bills, believes China’s most severe cryptocurrency ban to date should somehow highlight the difference.
Rosie Rios’ words should of course be taken into account, given that she is now named on Ripple’s payroll. Cryptocoin. com, the San Francisco-based company added Rosie Rios to its Board of Directors in early May. Kraken CEO Jesse Powell took a sneak peek at Rios and Ripple in response to recent efforts to promote the popular altcoin XRP, saying:
If you’re wondering where some of these politicians got their ideas from… We’re not all on the same team and we don’t all have the same goals. Do not forget this…
Powell: XRP has started to pose a “big asymmetric risk” for exchanges
In March, Powell stated that after Ripple was sued by the US Securities and Exchange Commission last December, XRP began to pose a “major asymmetric risk” for stock markets. At the time of writing, XRP is trading at $0.97, up 6 percent.
Cryptocoin. com, the SEC has officially filed a lawsuit against Ripple in the past months. Within the scope of this lawsuit, the SEC accuses Ripple and the company’s CEO Brad Garlinghouse and co-founder Chris Larsen of selling unregistered securities worth $1.3 billion through XRP. Also, according to the SEC, XRP has been a security since its launch. However, after the filing of this lawsuit, there were deep decreases in the XRP price. Cryptocurrency has suffered a depreciation of over 80 percent.