XRP is Not a Security, Binance CEO Changpeng Zhao Affirms

[sirty143]

Changpeng Zhao is known for being in touch with the community of users in the cryptocurrency space. Earlier this week he opened up for an ask me anything session on Twitter’s periscope.

During the ask me anything session a user wanted to know if there was any upcoming announcement on XRP. CZ mentioned the pending lawsuit against Ripple and commented on the much-debated issue of whether or not XRP is a security.

“People are aware that there is a lawsuit against XRP on whether they are a security or not. Our judgment is that they are not. And until it’s proven that they are, we listed them, and luckily we dragged other exchanges to list them. That’s a good thing… Just because there’s a lawsuit doesn’t mean they are guilty. So, we applied our judgment there, and we’re always very supportive of XRP. There’s a lot of guys who complain that it’s overly centralized, but look, the market votes with their feet, and XRP is one of the largest market cap coins, and it’s like that for a reason.”

CZ has been consistent in his support for XRP. Back in December @czbinance shared similar thoughts on Twitter.

“The court case may take years.  But if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too.  It certainly doesn’t look like a security to me, but that’s just one person’s opinion.”

Although XRP is highly valued in terms of market capitalization, it still has many detractors. Zhao warned against what he referred to as “decentralization idealism” and echoed his belief that use leads to adoption, not ideas. CZ backed up Ripple and XRP against the claims that it is not decentralized during his AMA and on Twitter.

“It’s simple my friend, as I answered in a few podcasts recently, one of the best ways to identify projects with value is the user base. Xrp got that. The market votes with their feet, not decentralization idealism. Increase your user base, increase adoption.”

While it’s detractors critique Ripple’s centralized characteristics, it’s hard to argue that their focus of bridging the financial industry to the blockchain world is not making an impact.

Source: ZyCrypto

Guys, what can you say about CZ comments on XRP? Don't hesitate to share it with us. Thanks.

[jonathancool220]

Not !

Ripple is not a symbol of security or special security.
Ripple is the same as other cryptocurrency that runs together as with address and private key.
The Ripple system is the same as the others, which means it has a hacking gap to hack by hackers.

[Thegals]

Whatever the opinion that people give about XRP remains it makes it as one of the favorite coins to serve as an investment. Proven by ranked third in CoinmarketCap. May the price can rise highly sometime.

[kent47400]

When famous people speak, I make sure that it has a big influence on the objects they are talking about.
If Ripple is not good for security, then surely Binance's CEO is telling the truth because the research he did has been done well in advance.

[masudginanjar]

I am also still hesitant about XRP because the XRP is so centralized, as has been said by the CEO of Binance.
I think XRP will also have a price decline if it is given a FUD and cannot stand the Bad News that is provided by the media.

[IyemRoker]

I am most bored to discuss Ripple because this coin is always a debate that has no end.
I was looking at Ripple threads and found this, I think Binance's CEO also hated Ripple very much. hmmmpp.

[Munareal]

I am of the opinion that ripple is a coin that will bring massive adaptation to the cryptocurrency usage its technology has been tested and is in use by banks. Yes, XRP is not a security but a cryptocurrency that is using its technology for a better financial technology.

[damsix]

I am of the opinion that ripple is a coin that will bring massive adaptation to the cryptocurrency usage its technology has been tested and is in use by banks. Yes, XRP is not a security but a cryptocurrency that is using its technology for a better financial technology.

If so, maybe the type of Ripple stays the same as the others.
Adaptation of Ripple is the same as the others and I want Ripple to be different from the others.