Bitstamp apologizes after posting report calling XRP ‘toxic waste’


Messari CEO calls XRP and XLM “toxic waste”

  • Messari founder thinks bitcoin forks have already peaked

  • The head of the analytical service criticized the pump of prices for XRP and XLM

  • Community urged to end partnership with Messari

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The head of the cryptanalyst company Messari in a recent report criticized XRP and XLM tokens, calling them “toxic waste”

Ryan Selkis, head of crypto-focused analytics service Messari, presented a report on the key cryptocurrency trends in 2021. In it, Messari’s founder described the evolution of the Ethereum ecosystem and US regulations in 2021.

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However, special attention in the cryptocurrency community was paid to the section titled “Litecoin, Bitcoin forks and toxic waste (XRP / XLM)”.

Messari CEO calls XRP and XLM 'toxic waste'

In the report, Selkis calls such assets useless, as they are not capable of the natural development of the cryptocurrency market after the 2017 bubble..

Useless assets

In particular, Selkis writes that bitcoin forks (Bitcoin Cash, Bitcoin SV and Bitcoin Gold) are absolutely “useless” since assets have already reached their peak and all they can do is constant forks..

“I can’t believe I still have to write about these piles of shit,” Selkis writes..

Messari’s founder points out that even Bitcoin Cash, which hit in 2017, has now turned into a soap opera or telenovela for minors..

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The XRP and XLM price pump in mid-November, according to Selkis, is due to the fact that these are old coins that are promoted by traders “on the reflexive belief” that tokens have endurance.

“Synthetix founder Kane Warwick got my feelings right when he compared earning from XRP trading to“ liquefying orphans to fuel streetlights or something similar, ”added Messari founder.

Selkis adds that the above assets are “toxic” as they constantly attract the attention of regulators.

Community disrespect

Selkis’s claims have already drew criticism in the cryptocurrency community.

Messari CEO calls XRP and XLM 'toxic waste'

Crypto exchange Bitstamp, which is on the list of sponsors of the report, has already apologized on its Twitter page due to the unflattering statements of the head of Messari.

“The essence of sponsoring research reports in the field of cryptography is to convey to the public a wide variety of points of view and ideas for free … but only on the condition that they do not show disrespect to any part of the community,” wrote Bitstamp.

The exchange also admitted that it had not fully reviewed all 130 pages of Messari’s report prior to publishing the material. Exchange clients urged the marketplace to no longer support Messari “amateurs”.

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Messari CEO calls XRP and XLM 'toxic waste'

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