Former US treasurer takes to Twitter to clarify crypto statement

Rosie Rios slammed cryptocurrency as finding value in speculation

Former US treasurer Rosie Rios has clarified some comments made about cryptocurrency by claiming developers globally are pursuing other use-cases, including store of value and medium of exchange.

The inevitable trip to Twitter to amend her statement came after Rios was criticised for claiming cryptocurrency found its value in speculation while praising XRP at the same time.

The controversy surrounding her comments was based on her role on the board of directors at Ripple which makes her compliments towards the exchange seemingly bias.

Kraken CEO Jesse Powell struck back at Rios after her initial comments and accused her of having an agenda.

“If you were wondering where some of these politicians get their ideas – we aren’t all on the same team, and we don’t all have the same goals,” he slammed.

“Don’t forget that.”

Rios also came under attack from people in her own camp as XRP ledger developer Nik Bougalis criticised the former US treasurer for saying XRP’s primary purpose was “facilitating cross border payments”.

“It’s one thing to talk about what problem a specific party, like Ripple, is trying to solve using XRP and why it’s well suited to that purpose,” he said.

“But nobody should talk about what ‘XRP’s primary purpose’ is as if they are the sole arbiter of XRP’s purpose or raison d’être.”

This debacle is eerily similar to the Stanford University controversy where a professor who was on the board of directors of Ripple allegedly praised the crypto while slamming Bitcoin in a presentation.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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