Craig Wright, a computer scientist and self-proclaimed Bitcoin (BTC) creator, has extended his criticism of the Ripple ecosystem and its backers.
In particular, Wright has called the XRP fans a ‘cultist army,’ claiming that the community knows the token will end up as a pyramid scheme at a time Ripple is currently in a legal dispute with the Securities and Exchange Commission (SEC), he said in a tweet on February 4.
Wright made the statement suggesting that the XRP fans closely follow a case between his firm Tulip Trading against 16 developers. In the case, the court ruled it should go to trial in London. The developers are accused of having ‘fiduciary duties’ and ‘duties in tort’ to re-write or amend protocol code, seeking to give Wright access to 111,000 Bitcoin.
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“There is a reason why the XRP cultist army is following the Tulip Trading case so closely. They completely understand that this will end the pyramid scheme that is Ripple and XRP,” he said.
According to Wright, he projects an XRP wipeout over what he termed as a ‘fraudulent scheme.’
Furthermore, Wright questioned the authenticity of the general Ripple project as the platform moves to power cross-border transactions.
Craig’s terms Ripple a ‘bad joke’
Wright also termed XRP a ‘bad joke’ and maintained that the asset should not be classified as a cryptocurrency but as a scam. Notably, he has been involved in several Twitter altercations with the Ripple community, where he has questioned the viability of XRP.
As reported by Finbold, the self-proclaimed Satoshi Nakamoto termed XRP as a ‘useless pump and dump scheme.’
The talk about Ripple comes as the crypto industry awaits the outcome of the Ripple and SEC case. Both parties have made final submissions, and legal experts are sharing their overview of the case. For example, law professor J.W. Verret accused the SEC of treating Ripple like a Ponzi scheme.
Craig Wright controversies
Meanwhile, Wright has been embroiled in controversy regarding his identity as Satoshi Nakamoto, the anonymous founder of Bitcoin.
The controversy has extended outside crypto circles, with reports alleging that a large section of his PhD thesis was plagiarized. At the same time, a federal court in West Palm Beach, Florida, ruled that he must pay $43 million to a joint venture he co-founded for illegally seizing intellectual property.
Featured image via TEDx Talks.
