Craig Wright, a computer scientist and self-proclaimed Bitcoin (BTC) creator, has expanded his critique of the Ripple ecosystem and its supporters.
Shock statement from that name: Ripple is a complete fraud
Notably, Wright called XRP fans an “army of cults” and claimed that the community knew the token would evolve into a pyramid scheme at a time when Ripple is currently in a legal dispute with the Securities and Exchange Commission (SEC). He said in a tweet on Feb.
Wright made the statement suggesting that XRP fans are closely following the lawsuit filed against 16 developers between his own firm, Tulip Trading. The court decided that the case should be heard in London. The developers are accused of “duties of trust” and “tort duties” to rewrite or modify the protocol code, attempting to gain Wright access to 111,000 Bitcoins.
“There is a reason why the cult army of XRP follows the Tulip Trade case so closely. They fully understand that this will end the Ripple and XRP pyramid scheme.” said.
According to Wright, he envisions an XRP wipe on what he calls a “fraud scheme.”
Find a hobby.
— XRP GURU (@XRPGURU) February 4, 2023
Also, Wright questioned the authenticity of the overall Ripple project as the platform sought to strengthen cross-border transactions.
Yup no one uses #XRP… https://t.co/cQpkhMHnlf
— Sam (@iAMSAM2022) February 4, 2023
Craig terms Ripple ‘a bad joke’
Wright also called XRP a “bad joke” and argued that the asset should be classified as a scam and not a cryptocurrency. In particular, he was involved in several Twitter discussions with the Ripple community, where he questioned the viability of XRP.
As reported by Finbold, self-proclaimed Satoshi Nakamoto described XRP as a ‘useless pumping and dumping scheme’.
The talk about Ripple comes as the crypto industry awaits the outcome of the Ripple and SEC lawsuit. Both parties have made their final presentations, and legal experts share their overviews of the case. For example, law professor JW Verret accused the SEC of treating Ripple as a pyramid scheme.
Craig Wright controversy
Meanwhile, Wright was embroiled in controversy over the identity of Bitcoin’s anonymous founder, Satoshi Nakamoto.
The controversy has spread outside of crypto circles, with reports claiming that a large part of his doctoral thesis was stolen. At the same time, a federal court in West Palm Beach, Florida, ruled that he must pay $43 million to a joint venture he co-founded for illegally confiscating intellectual property.
