Fox Business Anchor Calls XRP Community A “Cult”

By CoinGape July 18, 2023 In Cryptocurrencies, Ripple

Charles Gasparino, a Fox Business anchor, is now being attacked by XRP backers whom he recently labeled as a “cult.” Gasparino described his turbulent interaction with the XRP community in a series of tweets, characterizing it as a challenging but exciting aspect of his employment.

“They referred to me as a hero after I published the XRP crowd adored. Gasparino remarked in a tweet, “When I reported a few things they hate, I’m public enemy No. 1,” highlighting the explosive reaction he receives from the XRP community. Gasparino recently offered his thoughts in his tweets on the repercussions the cryptocurrency industry would experience if the SEC won the case.


Ripple’s Strategy In Question

Ripple could face a fine of $1 billion in this case. Gasparino recently questioned Ripple’s handling of this big payment in tweets. He mentioned that the business might have to either use some of its $1 billion in cash on hand or reduce its XRP holdings.


When the Fox Business host unintentionally promoted an XRP-related scam, his tense relationship with XRP backers recently got worse. Gasparino quote-tweeted a post purporting to be from Ripple to draw attention to the company’s purported disassociation from XRP.

According to Ripple, the business is challenging the SEC’s overreaching regulations not just for itself but for the whole cryptocurrency sector.

Regarding Coinbase, the largest cryptocurrency exchange in the US, Gasparino tweeted: “Coinbase tells FoxBusiness it’s creating a strategy to withstand an SEC regulatory crackdown on the trading of digital assets through broker-dealers that are securities-registered coins. Move made as SEC litigation against Ripple approaches; an SEC victory could require currency other than BTC to register.”

The Other Point Of View

All these arguments seem to have very little effect on the XRP community as the XRP price is extremely bullish. The price has increased by 50% in the last 7 days. It is also one of the best-performing assets this month so far. Gasparino however, cast doubt on whether the well-publicized decision in the Ripple v. SEC lawsuit was indeed a victory for the San Francisco-based corporation. Bard Garlinghouse, the CEO of Ripple, has another message for him, though.

Gasparino received a request from Garlinghouse to present the information at the Fox Business studio. Any depiction of the SEC case as a split victory, he claimed, was “pathetic.” He asserted that Ripple’s lawyers and numerous other members of the legal community all agreed that Ripple had won the case in his opinion on all material points.

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