The crypto world is once again debating after financial veteran Gary Cardone made some sharp remarks about XRP and its future. In a recent post, Cardone warned that XRP would do whatever it takes to survive — even if it means aligning with what he called “the most oppressive people on planet Earth.” He singled out European officials, accusing them of working to turn Europe into a surveillance-heavy, police-state-like continent.
Cardone went so far as to compare XRP to COVID-19 part two in finance, implying it could become a tool for financial control and oppression. This strong reaction came after a viral claim suggesting that the so-called “European surveillance coin” would run on the XRP Ledger.
In response, pro-XRP lawyer Bill Morgan stepped in to criticize Cardone’s statements. Morgan questioned how a native token on a public, permissionless blockchain like XRP could coordinate with oppressive regimes. “Did it gain sentience?” Morgan asked sarcastically, pointing out the absurdity of the claim.
This isn’t the first time Cardone has taken a stand against XRP. Earlier, the 40-year financial industry veteran revealed he sold his entire XRP holdings, worth about $8,000, when the price hit $2.71 per token. At the time, his decision shocked many in the XRP community, which is known for its loyal following.
Cardone listed six personal principles behind his move, including concerns over XRP’s supply and demand transparency, the difficulty in explaining its mechanics, and the risks of getting caught in hype-driven price speculation. He also opened up about the importance of long-term thinking, focusing on a few reliable assets, and avoiding following the crowd.
Gary Cardone is a financial industry veteran with 40 years of experience. He’s known for his entrepreneurial ventures and strong opinions on investment strategies and digital assets.
Gary Cardone sold his XRP due to concerns about supply transparency, complex mechanics, and risks of hype-driven speculation, aligning with his long-term investment principles.
Cardone fears XRP could become a tool for financial control, potentially aligning with “oppressive people” like European officials, comparing it to “COVID-19 part two in finance.”
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ethereum (ETH) price has been attempting to rally beyond $4k without success in the past…
Chainlink (LINK) price has signaled macro bullish continuation after rebounding from a crucial support level…
XRP price has signaled midterm strength as Bitcoin (BTC) rebounded above $110k on Monday. The…
Evernorth Holdings Inc., a new XRP-focused financial firm, has announced plans to go public through…
The XRP community is abuzz after Ripple strategist Max Avery reaffirmed that the XRP Ledger…
Big investors who sold Cardano (ADA) before its 70% plunge from all-time highs have turned…
