Bitstamp Issues an Apology After Reposting a Report Calling XRP ‘Toxic Waste’

Bitstamp is currently regretting allowing Messari’s 134-page report to be posted yesterday, including foul language, and defamed several cryptocurrencies and tokens. The digital asset exchange Bitstamp recently apologized for sharing a report on the crypto market and claims that it does not reflect their “views and values” as a firm.

In a tweet on Bitstamp’s official account posted on December 10, the exchange entity issued an apology for posting the “Crypto Theses for 2021” report by research firm Messari, written by its founder and CEO Ryan Selkis.

The said report called XRP a “toxic waste.” In the report, Selkis also referred to Bitcoin (BTC) as forks, and Stellar Lumens (XLM) and Litecoin (LTC) were called “piles of s—.” The report also said these toxic assets go against everything that got him into crypto.

Bitstamp has since removed the original tweet they posted on their account. The tweet has the said report, posted on December 8, attached to it. Their apology referred to the report as inconsistent with their company’s views and values, mainly because of the “strong language and content” the report has.

They also added that they believe that some aspects of the report were disrespectful towards that “part of the community.” Members of the XRP community were supportive of the statement from Bitstamp and called it a “quick and thoughtful reaction.”

The Messari CEO responded on Twitter that he was going for a humorous tone in a bid to keep his readers engaged. After all, the report is quite long, at 134 pages. However, he continued to call the XRP token “snake oil” and said that he is unlikely to change his opinion about the token in the future.

In the firm’s 2019 report, Selkis said he didn’t like XRP, but he did not label the token as toxic. He even said that, at the time, XRP had a “tremendous and surprising staying power.”

Selkis thinks Bitstamp may have expected a more cerebral and professional piece from their analysts rather than their yearly hot takes. He further added that he doesn’t blame them for being caught off guard.

This is not the first time the Selkis, Messari CEO, has been on the receiving end of hate from the members of the XRP community. Last January, he allegedly received threatening phone calls after his firm released a critical analysis of XRP.

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Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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