- ZachXBT argues ADA and XRP lack legitimacy due to missing major stablecoin issuers.
- Trump’s crypto reserve proposal has divided opinions on asset selection.
The crypto community is buzzing after blockchain investigator ZachXBT criticized Cardano (ADA) and XRP for lacking stablecoin issuers like Circle, Tether, or Paxos. His remarks came amid former President Donald Trump’s announcement to integrate crypto into a national strategic reserve.
While Trump’s crypto policy has drawn mixed reactions, ZachXBT’s comments highlight ongoing debates about ADA and XRP’s legitimacy. ZachXBT, known for exposing scams in the crypto world, argued that the presence of major stablecoins is crucial for a blockchain’s legitimacy.
He pointed out that neither ADA nor XRP has attracted stablecoin issuers, making their viability as competitors to Ethereum or Solana questionable. However, when challenged by users, ZachXBT stood firm. He stated that if ADA or XRP were valuable enough, stablecoin issuers would have already adopted them.
Debate Over ADA, XRP and Trump’s Crypto Reserve Plan
The critique has sparked strong responses, especially from ADA supporters. Some accused ZachXBT of elitism, arguing that Cardano faces barriers with Circle’s stablecoin. Others pointed out that Bitcoin, despite its success, also lacks stablecoins from major issuers.
ZachXBT responded, explaining that Bitcoin’s value proposition differs from ADA and XRP, which rely on more centralized models. Ripple supporters also defended XRP, citing the recent launch of RLUSD, a stablecoin. However, ZachXBT dismissed this as evidence of increased centralization on a supposedly decentralized chain.
Trump’s crypto reserve announcement, though controversial, has stirred optimism in the market. His campaign aims to empower retail investors and reduce reliance on traditional finance. Eric Trump praised the initiative, while others, including Coinbase CEO Brian Armstrong, warned against spreading the reserve across multiple cryptocurrencies.
Highlighted Crypto News Today
Binance Delists Tether and Other Non-MiCA Compliant Stablecoins in EEA
