- Morgan Creek’s Founder, Mark Yusko Talks About Why XRP Isn’t Part of its Digital Asset Index
- Ripple Executive Says COVID-19 May Be Causing A Shift From Paper Money to Digital Currencies
Ripple News Today – Morgan Creek is no doubt one of the top financial institutions in the digital asset space. The Morgan Creek Capital Management arm has a solid cryptocurrency index fund but the third-largest cryptocurrency per market capitalization, XRP, isn’t part of this fund. Members of the cryptocurrency industry have been wondering why the firm refused to add Ripple’s XRP. The founder of the company, Mark Yusko, has now explained why his company excluded Ripple XRP and Stellar XLM from its index.
Ripple News Today – Why Morgan Creek Doesn’t Have XRP and XLM in Its Index
According to Yusko, Morgan Creek Capital Management has centralization concerns about Ripple and Stellar. As you already know, a significant percentage of all the XRP in circulation is held by Ripple, the blockchain firm behind the token. Over the years, people have complained about how Ripple has too much control over the XRP token. Since the concept of cryptocurrency is based on decentralization, it’s not a surprise that companies will sideline Ripple’s XRP due to centralization concerns.
XRP (XRP) Price Today – XRP / USD
Since its launch in 2017, Morgan Creek’s index fund has allowed institutional investors to try out the cryptocurrency space with minimal risks. At the beginning of this year, the index fund covered over 75% of all the cryptocurrencies in the world per market capitalization. As expected, more than 80% of the index fund is made up of Bitcoin BTC. According to Yusko, they will reconsider adding the XRP index if Ripple changes its ways and proves that the token is fully centralized. He said;
“I still struggle with the XRP/Ripple structure, or how cash flows are created or shared, but that’s a topic for another day. Yes, there is a point at which, if they had enough distribution of XRP, it could qualify for the index.”
Ripple XRP News Today – Ripple Executive Navin Gupta Says The COVID-19 Pandemic is Fueling The Cryptocurrency Revolution
The managing director of Ripple, Navin Gupta, during the latest episode of Finance Magnates, said that the rise of the Coronavirus pandemic is causing a surge in the reliance on digital payment as opposed to fiat money. This digital payment revolution is what Satoshi Nakamoto had in mind when he created Bitcoin with blockchain as its underlying technology. Gupta believes that this shift will continue even after the crisis is over.