Ripple CEO Brad Garlinghouse recently made headlines with his comments on Dogecoin (DOGE), the popular memecoin in the cryptocurrency world. During his appearance at the Consensus 2024 conference, Garlinghouse expressed his belief that DOGE lacks practical utility and is hindering the progress of the crypto industry.
Despite Dogecoin’s impressive market capitalization of $23.22 billion, Garlinghouse emphasized that the coin’s value is primarily driven by speculation rather than genuine utility. He stressed the importance of focusing on solving real-world problems within the crypto space, rather than relying on speculative assets like DOGE.
Garlinghouse highlighted the lack of regulatory clarity surrounding cryptocurrencies in the United States and called for a shift towards addressing tangible issues within the industry. He expressed skepticism about the purpose and value of Dogecoin, stating that memecoins like DOGE, which are fueled by speculation, pose a significant challenge to the sector’s growth.
At the time of writing, DOGE was trading at $0.159. It is important to note that this article does not constitute investment advice. For those interested in investing in a wide range of cryptocurrencies, Binance exchange offers a 20% commission discount through this link.
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