Ripple & XRP Not on Fortune Crypto 40 List
Fortune skips Ripple & XRP on its top 40 crypto list.
XRP enthusiasts react as Ripple fails to make Fortune Crypto 40 list.
Silicon Valley’s leading technology company Ripple did not make the Fortune Crypto 40 list. The development surprised many who expected Ripple to be among the top crypto projects on the list.
Fortune Crypto 40 List
Launched by the prominent media Fortune, the Fortune Crypto 40 benchmark is an analytics-based list highlighting the top five cryptocurrency projects in eight categories.
The categories include non-fungible tokens (NFT), centralized finance (CeFi), traditional finance (TradFi), data, venture capital, infrastructure, protocols and decentralized finance (DeFi).
The Fortune Crypto 40 first benchmark edition was released yesterday, with Ethereum leading the Crypto protocols category, followed by Bitcoin, Polygon, Solana and Offchain Labs.
Winners for crypto protocols – the labs etc that get the biggest blockchains running – are:
1) @ethereum
2) Bitcoin
3) @Polygon
4) @solana
5) @OffchainLabs— Jeff Roberts (@jeffjohnroberts) 10 April 2023
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XRP enthusiasts react
However, many cryptocurrency enthusiasts were stunned when Fortune excluded Ripple. Some members of the XRP community reacted angrily, calling out Fortune’s Crypto Editor Jeff Roberts for defending the propaganda against Ripple.
This lucky clown blocked me. Pure crypto propaganda. @ripple not even on the list. pic.twitter.com/2f3fImMO3s
— Digital Asset Investor (@digitalassetbuy) 11 April 2023
Roberts Question about considering not including XRP.
Possibly overlooked or intentionally left out XRP???
— David Never Fear (@David50701876) 11 April 2023
According to one article Fortune announces the list and claims the results are unbiased. Fortune added that it compiled the list from the results of various empirical calculations along with an extensive survey involving more than 200 financial executives.
Despite Fortune’s claim, many XRP enthusiasts still seem to accept the media outlet’s verdict.
Ripple’s efforts in the financial space
It should be mentioned that Ripple has been among the foremost leaders of the cryptocurrency industry. Ripple has been focused on releasing innovative solutions to facilitate cross-border settlements and payments.
Top financial institutions, including Bitso and FOMO Pay, has utilized Ripple’s innovative solutions for cross-border settlements. Aside from private institutions, central banks around the world have partnered with Ripple to develop digital currency pilots.
Last month, Brook Entwistle, Ripple’s Senior Vice President, said the company has partnered with over 20 central banks on CBDC development. Ripple’s latest CBDC partnership involving the central bank of Montenegro.
Despite Ripple’s commitment to improving the global payments industry, Fortune did not include the blockchain company in any categories. There is a tendency that the ongoing litigation between Ripple and the SEC may have influenced Fortune’s decision not to include the blockchain company in the Fortune Crypto 40.
Since the SEC indicted Ripple in December 2020, several US-based firms, including Coinbase, have cut ties with Ripple-related projects, including XRP, due to fears that the SEC might come after them if the court rules in its favor.
Fortune is an international business magazine headquartered in New York City.
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