Crypto Expert: ‘If Anything’s Called a Cryptocurrency, it Should be Ripple (XRP)’

In a recent discussion on CNBC, Carol Alexander, a professor of finance at Sussex University, delved into the complex interplay between cryptocurrency, government policy, and the actions of President Donald Trump. Alexander pointed out the peculiar situation where, despite efforts to cut governmental inefficiencies, there’s also a push to invest in or acquire cryptocurrencies like Bitcoin (BTC). She highlighted the Trump administration’s interest in building a cryptocurrency reserve, not through purchasing expensive Bitcoin but by potentially leveraging seized digital assets. A significant example she mentioned was the recovery of 90,000 Bitcoins from the Bitfinex hack in 2016, which were returned to Bitfinex by the DOJ just days before Trump’s inauguration, bypassing the possibility of adding these to a strategic reserve.

Alexander critiqued the administration’s approach to digital currencies, noting the executive order’s stance against Central Bank Digital Currencies (CBDCs) while promoting stablecoins, particularly those denominated in USD, which are more restricted in Europe. She suggested that the U.S. might be aiming for a “dollarization” strategy in regions like South America and Africa through the promotion of these stablecoins.

When the topic shifted to the humorously noted Trump family meme coins like the Melania, Ivanka, or Barron coin, Alexander dismissed their practical utility, comparing them to meme coins like Dogecoin (DOGE) or Shiba Inu (SHIB). She emphasized that these coins, particularly the Trump coin (TRUMP), lack real utility and are more about speculation, with 80% of the tokens locked up, leading to significant volatility. However, she pointed to the World Liberty Finance Token as a more intriguing development, describing it as visionary in the context of decentralized finance (DeFi), despite Trump’s significant profit share.

On the topic of stablecoins and the broader implications for financial stability, Alexander discussed the potential for Europe to pursue a digital Euro, even if the U.S. shows no interest in a digital dollar. She noted that while a digital Euro is still under consideration, alternative privatized solutions like Fnality and Ripple exist, which could serve similar functions, especially in cross-border payments, potentially challenging systems like SWIFT. As Alexander put it, “There’s also the Ripple coin, which is, you know, if anything’s called a cryptocurrency, it should be Ripple.”

This discussion underscores the dynamic and often unpredictable nature of cryptocurrency policy under Trump, where traditional financial systems might be challenged by innovations in blockchain and digital currencies.

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