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Prominent Trader Sees No Value In Ripple And XRP

Ramsey Baker

Summary: Despite Ripple’s recent $200 million dollar funding round making the company a $10 billion blockchain giant, one prominent trader still believes the San Franciso-based firm has no value. Tone Vays, a former Wall Street trader and vice president of JP Morgan Chase, chastised Ripple for killing the value of the XRP virtual currency.  Vays said ...

Despite Ripple’s recent $200 million dollar funding round making the company a $10 billion blockchain giant, one prominent trader still believes the San Franciso-based firm has no value.

Tone Vays, a former Wall Street trader and vice president of JP Morgan Chase, chastised Ripple for killing the value of the XRP virtual currency.  Vays said that Ripple is actively selling their tokens to continue to fund their operations and since they were launched illegally, they have a “ridiculous financial advantage” over those companies generating their operational liquidity through legal means.

By Ramsey Baker

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