CNBC now offers data as XRP instead of the name Ripple after being warned on Twitter by Brad Garlinghouse, the company’s CEO
CNBC is now offering the data as XRP instead of the Ripple name, after being warned by the company’s CEO Brad Garlinghouse on Twitter.
America’s leading economics channel, CNBC, won the hearts of token holders by changing “Ripple” to “XRP” in a real-time snapshot of cryptocurrency prices. This comes after Ripple CEO Brad Garlinghouse made a personal call to the channel on Twitter following his May 29 interview.
Thanks @JoeSquawk and @andrewrsorkin for having me on to chat about Ripple’s traction, the differences between Ripple and XRP, and the need for regulatory clarity. On the second point…fixed your graphic for you 😉 2/2 pic.twitter.com/5xqFgXGKmi
— Brad Garlinghouse (@bgarlinghouse) May 26, 2021
Was It a Problem?
While the issue may seem trivial at first glance, it is the crux of the company’s ongoing legal battle with the U.S. Securities and Exchange Commission. While Ripple draws parallels with De Beers’ diamonds and Chevron’s oil, it insists it does not control XRP, which it claims is a technically independent cryptocurrency.
However, the SEC claims that Ripple has created a market for “Ripple Loans” (the original name for XRP) to sell it as a no-list security and make “enormous profits.” Ripple currently holds 6.1 billion XRP, while 47.7 billion tokens are locked in escrow.