Ripple CEO Debunks 'XRP Control' Claims with $150 Million Hack Evidence

Ripple CEO Brad Garlinghouse addressed claims that his company controls the XRP token, calling them 'fundamentally not true.'

The assertion is part of why Ripple ended up in a US government court case where it had to prove otherwise.

Garlinghouse pointed out that the $XRP Ledger is open source and decentralized, with 2% of validators run by Ripple and the other 98% independent parties.

He acknowledged that Ripple holds a large amount of XRP but said this gives it no say in governance, as owning tokens carries no vote in the consensus process.