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Bitstamp forced to issue an apology over “toxic waste“ comment on XRP in new report

Bitstamp forced to issue an apology over “toxic waste“ comment on XRP in new report

Quick take

1 minute read

  • Bitstamp has just recently apologised after it shared a market update to report initially claiming not to reflect the companies “views or values.“
  • In a tweet, they issued an apology for posting the “crypto thesis for 2021” report from Messari and its founder and CEO Ryan Selkis.

Bitstamp, a prominent crypto platform has just recently apologised after it shared a market update to report initially claiming not to reflect the companies “views or values.“

In a tweet from the platform published earlier this week, they issued an apology for posting the “crypto thesis for 2021” report from Messari and its founder and CEO Ryan Selkis. Specifically, the San Francisco-based XRP token was noted and described as “a toxic waste.” The CEO even went on to talk about the forks of bitcoin noting them as “piles of sh*t.”

“These are toxic assets propped up by regulatory capture, and they go against everything that got me into crypto."

The original tweet from Bitstamp has been removed and in their apology, they noted that the report was inconsistent with the company and its values. Furthermore, they add that some aspects of the report was “disrespectful“ to the crypto community.

Ryan himself even responded saying that he was going for a “humorous tone“ in order to keep the readers wanting to read on.

However, he didn’t just say that the San Francisco token was “toxic waste.“ He also added that it was like a “snake oil“ and specifically highlighted that he wouldn’t be changing his opinion any time soon in the future.

The community was generally supportive of the apology notice from the exchange saying that it was a well thought through reaction and quickly responded. Ryan went on to say:

“Bitstamp may have expected a more cerebral ‘Pro’ piece from our analysts vs. the yearly [company] hot takes. I don't blame them for being caught off guard.”

For more news on this and other crypto updates, keep it with CryptoDaily!

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