In a fiery statement, Mallers accused Ripple of “undermining American prosperity and freedom.”
He claims Ripple is spending millions to block a U.S. Bitcoin reserve. He labels their actions as “corporate lobbying disguised as tech growth.”
Mallers Warns Ripple’s Actions Threaten U.S. Financial Future
Mallers didn’t mince words, urging Americans to “fight back” against what he views as a direct attack on the country’s financial future. His concern is that Ripple’s actions could put the United States at a disadvantage in the global race for digital currency dominance.
Mallers believes that Bitcoin, a decentralized and transparent digital currency, is essential for the U.S. to maintain its economic leadership. He sees a national Bitcoin reserve as a strategic move to secure America’s position in the global financial system. However, he alleges that Ripple is actively working against this vision, favoring its interests instead of the country’s.
🚨 JACK MALLERS: “Ripple is undermining American prosperity and freedom. I can confirm that they are actively spending millions of dollars trying to undermine a strategic Bitcoin reserve in America. This is corporate lobbying disguised as tech growth. We must FIGHT BACK.” pic.twitter.com/us0w8PctI1
— Swan (@Swan) January 24, 2025
According to Mallers, Ripple’s lobbying efforts are cloaked under the guise of technological progress, but he insists they’re more about corporate gain than genuine innovation. “It’s like putting lipstick on a pig,” he said, emphasizing that lobbying disguised as progress doesn’t change the harmful intent behind it.
Ripple’s Role in Crypto
Ripple, known for its blockchain-based payment solutions, has long been a polarizing figure in the crypto world. The company promotes its XRP token as a faster, more efficient way to move money globally. But critics like Mallers argue that its centralized structure and heavy lobbying efforts go against the decentralized ethos of cryptocurrencies like Bitcoin. For example, Ripple launched a CBDC project, which goes against Trump’s plans to ban these kinds of projects.
What’s the most exciting thing about CBDCs and stablecoins? Innovation.
Discover the Ripple CBDC Platform and learn why over 90% of central banks are actively exploring #CBDCs : https://t.co/YW2I0QQzos pic.twitter.com/d87K0uk8Kp
— Ripple (@Ripple) November 13, 2023
This isn’t the first time Ripple has faced criticism. Its ongoing legal battles with the SEC over whether XRP is a security have already placed it under intense scrutiny. Mallers’ accusations add more fuel to the fire, painting Ripple as a threat to the broader crypto ecosystem.
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