Should the US consider making XRP the world’s reserve currency and buy all its assets from the market?
Well, this speculative idea, which was floated by Jimmy Vallee, Managing Director of Valhill Capital in 2021, is making the rounds again after he said it in a recent interview.
But Ripple Lab CTO David Schwartz says he hasn’t even looked into it.
sounds like a scam
The latest person to undermine Vallee’s speculative buyback theory is Ripple CTO David Schwartz, who called it a scam in a tweet on Monday.
“I haven’t looked too closely. Anyone who promises a return will almost certainly steal you,” Schwartz said. Said.
The XRP buyback theory has been dismissed by many others in the crypto world.Most importantly, Ripple’s former Director of Developer Relations, Matt Hamilton, said in a lengthy Twitter thread .
What is the XRP buyback theory?
Known as Vallee’s Buyback Theory, this theory calls for governments to buy back the entire supply of XRP from retailers. Vallee also shows the price of the buyback of XRP. This is a staggering price of $37,500 per token, calculated by dividing the world’s total wealth by the total supply of assets. report Said. For the past few weeks, XRP has been trading at the $0.40 level.
While no one is taking Vallee’s buyback idea seriously, the XRP community can’t stop speculating whether it will actually go through.
Schwartz’s dismissal of the speculative hypothesis as a fraud seems to be an attempt to keep the community from getting upset.
Deaton Attorney Description
in Vallee interview A December 28th collaboration with investor, analyst and business coach Molly Elmore added a new dimension to the ongoing theory narrative. He referred to attorney John E. Deaton, who has assisted the court in the Ripple v. SEC case, where he said he was “fighting SEC outreach.”
Ripple CEO Brad Garlinghouse recently said that in its third year, the case is likely to be resolved within six months.
Vallee suggested Deaton should be paid in the event of a buyback for his efforts to assist Ripple in the aforementioned case on behalf of XRP holders.
On February 3, Deaton distanced himself from Vallee’s remarks, saying he never expected to be paid for “fighting SEC excesses.”
“Unless I appear as counsel on behalf of a company being sued by the SEC, my efforts will continue to be gratuitous. I will not receive any money from token holders related to my efforts,” he said. . Said in one of his tweets.
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