Ripple CEO Fires Back at Dogecoin Founder’s Defense of Meme Coins

Ripple CEO Brad Garlinghouse and the Dogecoin founder engaged in a contentious debate regarding the relevance of meme coins. 

The clash unfolded following Brad Garlinghouse’s remarks on Dogecoin during the just-concluded World Economic Forum (WEF) in Switzerland.

The discussion centered around the need for precise regulation in the industry distinguishing between utility-driven tokens and meme coins.

Specifically, Ripple CEO Brad Garlinghouse took a dismissive stance toward meme coins. He singled out Dogecoin as an example of a pointless crypto project.

“I don’t get it,” he remarked, signaling a gesture of “what’s the point” to challenge Dogecoin’s relevance to the crypto industry. 

Dogecoin Founder Reacts

Dogecoin co-founder Billy Markus, who uses the pseudonym Shibetoshi Nakamoto, took to X to defend DOGE.

Specifically, Markus dismissed Garlinghouse’s perspective, stating that the misconception lies in labeling Dogecoin as fundamentally different from Bitcoin.

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He boldly asserted Bitcoin and DOGE are similar in essence, with the minor difference being in ticker symbols.

To reinforce his arguments, Markus shared a conceptual analogy, equating the dismissal of Dogecoin to preferring one fiat currency over another. He emphasized the parallel by stating: 

“This is like saying ‘I totally get the Euro, but the Yen is nonsense.’”

Notably, Billy Markus has taken down his response at the time of reporting, though traces of it remain in the public domain.

Ripple Fires Back

In reply, Ripple CEO Brad Garlinghouse acknowledged the perspective put forth by Markus, stating: 

“I understand the point you are making and agree with the point in some ways.” 

I understand the point you are making and agree with the point in some ways – but a more apt comparison would be the USD to the Zimbabwean Dollar.

— Brad Garlinghouse (@bgarlinghouse) January 22, 2024

However, he introduced a counterpoint by proposing an analogy he believes is more befitting. Specifically, Garlinghouse drew a parallel between Dogecoin and the Zimbabwean Dollar in relation to the United States Dollar. 

This comparison suggested a significant contrast in terms of utility and value. Essentially, he sought to establish that although both the U.S. and Zimbabwe have currencies labeled as dollars, their utility and market values are miles apart.

This counterpoint emphasized the substantial differences between Bitcoin and a meme-themed coin like Dogecoin, challenging the notion of their similarity.

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• Source: https://thecryptobasic.com/2024/01/23/ripple-ceo-fires-back-at-dogecoin-founders-defense-of-meme-coins/?utm_source=rss&utm_medium=rss&utm_campaign=ripple-ceo-fires-back-at-dogecoin-founders-defense-of-meme-coins