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Bitstamp apologizes for calling XRP ‘toxic waste’

Bitstamp now regrets yesterday's publication of Messari's 134-page paper that featured harsh language and vivid explanations of certain tokens.

Bitstamp’s digital asset exchange has apologised for sharing a crypto industry report that it says does not reflect the “views or values” of the company.

In a tweet from Bitstamp published today, the exchange released an apology from founder and CEO Ryan Selkis for publishing research firm Messari’s “Crypto Theses for 2021” article. The study refers to XRP as “toxic waste,” with Selkis naming the “piles of s—-” forks of Bitcoin (BTC), Stellar Lumens (XLM) and Litecoin (LTC). The report said: “These are toxic assets propped up by regulatory capture, and they go against everything that got me into crypto.”

Bitstamp deleted the original tweet it sent after the release of the report on December 8 and pointed to parts of the “language and content” in the report as being inconsistent with the values of the organization. The company added that it believed the “part of the community” was insensitive in certain ways.

In reply, the CEO of Messari said he was aiming for a funny tone on Twitter to keep readers interested. The study is 134 pages long. He doubled down on his XRP beliefs, however, referring to the token as “snake oil” and adding it was doubtful that in the future he would change his mind. Members of the XRP army usually accepted the comment of Bitstamp, finding it a “quick and thoughtful reaction.” The exchange may have replied to the views of Selkis on XRP, or the seemingly unprofessional language peppered in the study, using “f—-” five times and “s—-” nine times by the Messari CEO. “Bitstamp may have expected a more cerebral ‘Pro’ piece from our analysts vs. the yearly [company] hot takes,” said Selkis. “I don’t blame them for being caught off guard.”

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