The internal e -mails of the 2018 undulation – subject to the continuation of the American Commission of Securities and Exchange Commission (SEC) concerning alleged sales of values not registered – have resurfaced. These documents show that Ripple managers and staff have actively discussed the promotion of the story that Bitcoin is “controlled by China”, an assertion often called “Fud China” (fear, uncertainty, doubt).
How Ripple managed the Bitcoin “China Fud”
One of the e-mails mentioned, labeled “4) China + Bitcoin”, contains the following directive: “It looks like Brad and (Raided) already say publicly on Bitcoin led by China.”
Another segment describes a plan to produce a contrasting “post insights” XRP with other cryptocurrencies: “We could present this because it would get a ton of game as” Ripple Response to (Raised) “. Note: This seems to be opposed to our current promotion efforts around exchanges. Currently, we have said to all current or future exchanges that we are unable to provide promotion aid. »»
In addition to these strategic notes, email exchanges between the staff of Ripple dated July 16, 2018, suggest a detailed and continuous conversation on the best way to frame the centralization problems perceived of Bitcoin. A staff member wrote: “How is the history of Bitcoin / China different from that with which we are already working (expurgated)? Are we ready to put someone on the file now to specifically call Bitcoin and Ethereum?
A staff member (Raised) then proposed a meeting: “Can we all surround today to discuss the next steps?” E-mails point out that “China + Bitcoin” was a subject of internal discussion in Ripple, apparently aimed at highlighting the alleged vulnerabilities of Bitcoin linked to Chinese mining pools in order to promote XRP as “decentralized”.
These newly surfaced emails occur shortly after US President Donald Trump announced the American Bitcoin Strategic Reserve. In particular, leaks revealed that Ripple opposed a “only bitcoin” strategy, lobbying for a more diverse approach that would include XRP, Solana (Sol) and Cardano (ADA). The CEO of Ripple, Brad Garlinghouse, would have met the Trump administration to defend a broader inclusion of digital assets.
In public, Ripple’s lobbying efforts were positioned as part of a campaign to shape cryptographic user -friendly regulations. However, criticisms say that the behind -the -scenes work of Ripple – was learned by the disclosed emails – has made a clearly anti -bitcoin tone.
The criticisms quickly seized a Tweet of October 9, 2018 from Ripple CTO David “Joelkatz” Schwartz (@joelkatz), who said: “A new study shows that China controls 74% Bitcoin. Does this seem decentralized to you?
According to criticism, this tweet is lining up closely with discussions by email in July 2018, suggesting a concerted public relations strategy to represent Bitcoin as centralized.
The longtime skeptic of XRP, Pierre Rochard, vice-president of research on Riot Platforms, Inc., replied on X: “I do not respect David Schwartz, Ripple or XRP. Over the past decade, their marketing strategy for the planning of their pre-marine altcoin has been to buy and promote anti-cockin disinformation while claiming that banks want to use XRP (they don’t). They will say and do everything to advance their “technology” of centralized waste which has no use. »»
Rochard also added: “Brad Garlinghouse did his best to dirty Bitcoin as bad for the environment and controlled by China. Disinformation. The truth has won, he lost.
The long history of ripple of anti-bitcoin marketing
Remarkably, Ripple has a long story of Bitcoin attack. The co-founder and executive president of Ripple, Chris Larsen, was a vocal defender for the displacement of the Bitcoin consensus mechanism of proof (POW) in proof of participation (POS). In March 2022, Larsen personally funded a campaign of $ 5 million Greenpeace USA entitled “Change the code”, aimed at putting pressure on Bitcoin developers and the main figures in the industry to modify the Bitcoin mining protocol.
Despite large -scale advertising and an artistic installation that draws attention to Benjamin von Wong – the “Skull of Satoshi” – the campaign turned into spectacularly. Bitcoiners kissed him as “hard to cook”, co -opting it like a mascot. On March 25, 2023, Von Wong published a Twitter wire admitting that it was “false” to consider the environmental impact of Bitcoin as a “black and white problem”.
After committing to online Bitcoin defenders, he recognized that the energy dynamic of Mining was complex – POW could stimulate renewable adoption rather than harm the planet. He went from the defense of a code change to the suggestion of bitcoins “work in the system” to green the network, a notable pivot of the original intention of the campaign. Greenpeace, however, doubled, continuing to visit the skull to push his message, despite the softened rhetoric of Von Wong.
At the time of the press, BTC exchanged $ 81,593.
Star image created with dall.e, tradingView.com graphic
Editorial process Because the bitcoinist is centered on the supply of in -depth, precise and impartial content. We confirm strict supply standards, and each page undergoes a diligent review by our team of high -level technology experts and experienced editors. This process guarantees the integrity, relevance and value of our content for our readers.
