Bill Bryson Takes On the Crypto Drama: Ripple CTO vs. Caitlin Long

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Imagine a world where the tech titans of today decide to throw their hats into the ring of cryptocurrency, only to find themselves embroiled in a debate that feels more like a medieval jousting tournament. That’s exactly what happened when Ripple CTO David Schwartz decided to take up arms against the fiery accusations hurled by Custodia Bank CEO Caitlin Long. 🛡️🔥

Caitlin Long Takes a Swing at Ripple and XRP

In a podcast that could have been titled “The Great Blockchain Bash,” Caitlin Long, CEO of Custodia Bank, didn’t just step into the ring; she practically threw down the gauntlet. During an episode of the Gold Goats ‘n Guns podcast, Long unleashed a torrent of criticism aimed at Ripple and XRP. According to her, Ripple’s early funding model, which she uncharitably likened to the first ICO (Initial Coin Offering), has left a permanent stain on the fabric of institutional trust in XRP. 😅

Long wasn’t done there. She pointed out that despite Ripple being around longer than many other blockchain projects, it hasn’t managed to dethrone the likes of SWIFT in the world of traditional banking. Instead, she noted, Ripple’s decision to issue RLUSD through its own regulated financial entities marks a significant shift away from its original vision of the XRP Ledger (XRPL) as a global settlement layer. While she acknowledged that the Biden administration’s regulatory pressure might have played a role, she remained skeptical about the XRPL becoming the backbone of international payments anytime soon. 🤷‍♂️

And if that wasn’t enough, Long predicted that when the U.S. Treasury finally decides on a blockchain for tokenizing T-bills, Ethereum is far more likely to win the race due to its maturity and broader adoption. 🏆

XRP Community and CTO Counterattack

The XRP community, never one to back down from a challenge, quickly rallied to defend its honor. Vet, a prominent XRP community member, was among the first to step forward, dismissing Long’s claims as misinformed. Vet pointed out that Ripple never conducted an ICO, and that when XRP was created, it was essentially worthless-like finding a needle in a haystack, but the needle is made of hay. 🧵

Vet also defended the XRPL’s decentralization, noting that it boasts over 1,000 nodes and more than 100 independent validators spread across the globe. For context, that’s like having a village where everyone gets a say in how things are run, rather than a single king making all the decisions. 🏰

He further highlighted that Ethereum, often held up as the gold standard, actually started with an ICO. Vet emphasized Ripple’s ongoing integration of the XRPL in its payment products and the growing list of business use cases. He even threw in a bit of history, reminding everyone that the XRPL was the first blockchain to feature a native decentralized exchange and tokenization capabilities. 🚀

Not to be outdone, David Schwartz, Ripple’s CTO, took to X to address Long’s claims head-on. While acknowledging that Vet had already laid the groundwork for a factual discussion, Schwartz extended an open invitation to Long for a more detailed conversation. It’s the digital equivalent of saying, “Let’s take this outside and settle it like adults.” 👊

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2025-08-10 02:43