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Ripple CEO Garlinghouse Admits He Was Wrong About Dogecoin

  • At a Ripple event, CEO Brad Garlinghouse admitted he was wrong about Dogecoin and its impact.
  • During a discussion on meme coins, Garlinghouse acknowledged the market reality shaped by Elon Musk's advocacy.
  • He previously dismissed Dogecoin as a parody asset unsuitable for engaging institutions in decentralized finance.
  • Garlinghouse recognized Dogecoin's significant liquidity due to Musk's influence, making it a lasting part of the ecosystem.
  • Despite his change of stance on Dogecoin, he still criticized meme-coin launches as 'get-rich-quick rug pulls'.
  • Garlinghouse mentioned US Senator Elizabeth Warren's concerns about negative use cases of hype-driven projects.
  • When asked to pick a meme representing crypto's chaos or brilliance, Garlinghouse chose Doge for its dual nature.
  • Ripple president Monica Long highlighted the experimental role of dubious tokens in strengthening blockchains.
  • Overall, Garlinghouse maintained his view that meme coins are overrated, but acknowledged Dogecoin's significant role.
  • Dogecoin was trading at $0.201 at the time of the news.

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