A response from XRPL validator Vet has challenged recent claims made by Custodia Bank CEO Caitlin Long during her appearance on the “Gold Goats ‘n Guns Podcast.” Long’s remarks, which were reshared in a tweet by Digital Asset Investor, questioned the legitimacy, structure, and progress of Ripple and the XRP Ledger. Vet issued a detailed response that laid out five core reasons why, in his view, Long’s characterizations were incorrect or based on fundamental misunderstandings of the XRP ecosystem. She has no clue what she is talking about, but she talks with such confidence about it. 1) Ripple never did an ICO. XRP was worth nothing when the XRP Ledger started and all 100B put into the genesis account. 2) The XRP Ledger is decentralized. Either it's ignorance or lack of… https://t.co/yQNtGe81XL — Vet (@Vet_X0) August 6, 2025 Ripple Never Conducted an ICO VET’s first point addressed the claim that Ripple’s early XRP distribution resembled an exit scam due to the amount of money raised upfront. He asserted that Ripple never held an initial coin offering (ICO) and emphasized that XRP had no market value at the time the XRP Ledger launched. According to VET, all 100 billion XRP were placed in a genesis account, not distributed in exchange for investor funds. He maintained that this fundamental distinction sets Ripple apart from other projects that raised capital through public sales, such as Ethereum. The XRP Ledger Is Decentralized Vet’s second reason focused on Long’s description of the XRP Ledger as a centralized network. He rejected this outright, stating that such claims reflect either ignorance or a lack of understanding. Vet explained that the XRP Ledger is open and permissionless, allowing anyone to run a node , join the network, or even fork its codebase. He added that there are over 1,000 active nodes and more than 100 validators operated by individuals and businesses worldwide. In his view, Long’s continued framing of the network as centralized ignores verifiable facts and the presence of numerous independent participants. Ethereum’s ICO Undermines the Comparison In his third argument, Vet questioned Long’s choice to elevate Ethereum as a more trustworthy platform. He pointed out that Ethereum did conduct an ICO and that early investors received ETH in exchange for Bitcoin. According to Vet, if Long is concerned about networks that raised money upfront, then Ethereum should not be held up as the ideal. He contrasted this with XRP’s distribution, which, he reiterated, involved no ICO, further undermining the basis of her criticism. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Ripple’s Use of XRPL Refutes Claims of Abandonment Vet’s fourth point challenged Long’s interpretation that Ripple had pivoted away from the XRP Ledger. He clarified that Ripple Payments actively runs on the XRP Ledger and that Ripple’s new stablecoin, RLUSD , is being issued on the same network. Contrary to Long’s suggestion that Ripple had moved on due to limited adoption, Vet argued that these developments illustrate a continued commitment to building on XRPL as the core infrastructure for the company’s financial products. XRPL Has Shown Ongoing Progress and Adoption The fifth and final reason Vet offered involved the continued evolution of the XRP Ledger. He stated that the network has made clear progress, with growing business use cases, increasing developer activity, and new functionalities implemented through protocol amendments. Vet also emphasized that XRPL is home to a deeply liquid decentralized exchange (DEX) and was the first tokenization platform to launch. In his view, describing the network as stagnant or ineffective does not align with the evidence of continued development and institutional relevance. While Caitlin Long’s comments questioned XRP’s design, adoption, and future role in tokenization, Vet’s five-point rebuttal highlighted what he views as a series of misconceptions. His response emphasized XRP’s original distribution model, decentralization, Ripple’s ongoing use of the network, and XRPL’s continuing development as evidence that Long’s criticisms were misplaced. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post XRPL Validator Lists 5 Reasons Why Caitlin Long Is Wrong About Ripple and XRP appeared first on Times Tabloid .
