Former U.S. Treasurer Rosie Rios recently typed out some words of praise for XRP’s utility.
In her tweet, Rios claims that the Ripple-affiliated digital currency is used for cross-border payments, which she believes sets it apart from other coins that are mainly useful for speculation.
The ex-treasurer, whose name was printed on billions of U.S. dollar banknotes, believes that China’s most severe cryptocurrency ban to date is somehow supposed to highlight the difference.
Rios’s words, of course, have to be taken with a significant pinch of salt given that she’s currently on Ripple’s payroll.
XRP’s primary purpose is facilitating cross border payments while other #Cryptos find their value in speculation. China’s latest move brings this point home. #Ripple #ripplenet #Bitcoin— Rosie Rios (@RosieRios) September 26, 2021
As reported by U.Today, the San Francisco-based company added her to its Board of Directors in early May.
Kraken CEO Jesse Powell took a veiled swipe at Rios and Ripple in response to the recent effort to promote XRP:
If you were wondering where some of these politicians get their ideas. We aren’t all on the same team, and we don’t all have the same goals. Don’t forget that.
In March, Powell opined that XRP started posing a “huge asymmetrical risk” to exchanges after Ripple was sued by the U.S. Securities and Exchange Commission last December.