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CNBC Changes Ripple to XRP After CEO Complains

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Tue, 06/01/2021 - 13:38
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Alex Dovbnya
CNBC now shows XRP instead of Ripple after getting called out by CEO Brad Garlinghouse on Twitter
CNBC Changes Ripple to XRP After CEO Complains
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CNBC, America's leading business channel, has changed "Ripple" to "XRP" in its real-time snapshot of cryptocurrency prices, enthralling the token's holders.

XRP
Image by twitter.com

This comes after Ripple CEO Brad Garlinghouse personally called out the channel on Twitter following his interview on May 29.

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Why the confusion?

While the issue might seem like a triviality at first blush, it is the crux of the company's ongoing legal battle with the U.S. Securities and Exchange Commission.

Ripple insists that it does not control XRP, which it claims is a technically independent cryptocurrency while drawing parallels with De Beers' diamonds and Chevron's oil.

The SEC, however, asserts that Ripple created a market for "Ripple Credits" (the original name of XRP) to sell it as an unregistered security and reap "immense profits."

Ripple currently holds 6.1 billion XRPs while 47.7 billion tokens are locked in its escrow.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.