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Ripple CEO Debunks 'XRP Control' Claims Amid Decentralization Debate

Guavy AI Editorial Team
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XRP
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Ripple CEO Brad Garlinghouse addressed claims that his company controls XRP during an event. He argued that these assertions are false and a result of deliberate misinformation.

The open-source XRP Ledger is governed by validators, with Ripple running around 2% of them, while independent parties run the remaining 98%. Token holdings do not confer governance under its consensus process, according to Garlinghouse.

In an example to illustrate this point, he cited a $150 million XRP theft from Ripple's founder about 18 months ago. The company could not reverse the transfer and only recovered some of the funds due to intervention by centralized exchanges and law enforcement agencies.

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