Mike Novogratz admits he once doubted XRP's survival
Crypto mogul Mike Novogratz claims that XRP has one of the strongest communities.
- Initial skepticism. Galaxy Digital CEO Mike Novogratz revealed he initially believed XRP would not survive the SEC lawsuit.
During a recent conversation with podcaster Kyle Chasse, Galaxy Digital CEO Mike Novogratz admitted that he did not think that XRP would survive the SEC lawsuit.
"XRP has one of the strongest communities there is," Novogratz said. The Galaxy CEO has praised Ripple CEO Brad Garlinghouse for successfully navigating lawsuits and keeping the community intact.
- Shift in perspective. Novogratz highlighted that community loyalty is essential in crypto, comparing it to rare stock market cases like Tesla.
Novogratz has recalled that he used to dismiss XRP due to its cultish following. However, he then came to realize that this is half of what crypto essentially is.
"After 2008, people did not trust governments…We have so little trust that we are finding trust in these online crypto communities," Novogratz noted.
He has added that all cryptocurrencies that have become successful are supported by cult-like communities. This sets crypto apart from the equities market, given that individual stocks rarely have such passionate followers behind them (except for rather rare examples like Tesla).
Former Ripple exec Anthony Welfare explains CBDC's role in XRP Ledger's evolution
XRP Ledger benefited from Ripple's CBDC trials, former adviser reveals.
- CBDC pilots. Ripple partnered with Bhutan and Palau in 2021 for CBDC experiments.
Former Ripple executive Anthony Welfare has broken silence on the impact of CBDCs experiment for XRP Ledger's development. From 2021 to 2024, Ripple became increasingly active in the development of central bank digital currencies. In 2021, Ripple announced its partnership with the Royal Monetary Authority of Bhutan and the Republic of Palau for CBDC pilots.
- Strategic shift in 2025. Ripple redesigned its website in February 2025, removing references to CBDCs.
Fast forward to 2023, Ripple announced CBDC partnerships with Montenegro and Columbia central banks. That same year, Ripple revealed a platform dedicated to central bank digital currencies powered by XRP Ledger.
This year, 2025, marked a significant shift for Ripple as it highlighted a new focus for its operations. In February 2025, Ripple unveiled a major redesign of its website that made no mention of central bank digital currencies (CBDCs), which sparked speculation that the company was stepping back from CBDC initiatives or simply keeping a low profile amid the U.S. anti-CBDC stance.
According to Welfare, "The entire CBDC work was very important to learn what the Central banks wanted and how the commercial banks are key, hence Stablecoins as the main focus." This was essential as it prepared XRP Ledger ahead for the current advancements it is seeing.
Vitalik Buterin dumps meme coins, triggers crypto market volatility
Ethereum creator triggers SHIB flashback with latest meme coin maneuver
- What happened. Vitalik Buterin sold 150B Puppies tokens for 28.58 ETH (~$114K) and 1B ERC20 tokens for $13.9K in USDC within hours.
Ethereum creator Vitalik Buterin has exited meme coins yet again, selling two different tokens in just a few hours. On-chain data shows the famous crypto developer offloaded 150 billion Puppies tokens for 28.58 ETH equivalent to about $114,000 and 1 billion ERC20 tokens for $13,900 in USDC.
- Historical context. In 2021, Buterin famously received billions of SHIB, donated a large portion to India’s COVID-19 relief, and burned the rest.
The sums are small in the grand scheme of Ethereum, but the action is all too familiar. Back in 2021, Buterin got billions of Shiba Inu (SHIB) tokens from the project's creators, then sent a big chunk of it to India's relief fund and burned the rest.
That decision sent the SHIB community into a state of shock, wiped out part of its supply and, despite the sell-off pressure, became one of the biggest hype stories of that bull run, pushing SHIB deeper into the public eye and cementing its place in crypto history.
It remains to be seen if this week's sales will show the same pattern. Buterin doesn't keep meme tokens in his wallets for long. ERC20 took a 70% hit after his transactions, and Puppies, which had been in the spotlight recently, faced extra scrutiny once the sales were recorded on the blockchain and spread across trading groups.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team