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Cryptocurrency News Articles
Growing Tensions Between Bitcoin Supporters and the Ripple Community Have Intensified
Mar 23, 2025 at 06:31 am
Growing tensions between Bitcoin supporters and the Ripple community have intensified following recent developments in U.S. crypto policy.
Growing tensions between Bitcoin supporters and the Ripple community have come to the forefront following recent developments in U.S. crypto policy. President Donald Trump’s renewed pledge to make the United States a global crypto hub is stirring debate, especially with administration officials showing preference for Bitcoin over other cryptocurrencies.
As reported by AMCryptoPolis, observers are noting that Trump’s administration appears to be prioritizing Bitcoin despite broader crypto leadership ambitions. This has sparked reactions from the XRP community and legal experts who have expressed concern about biased crypto policies. The rivalry between Bitcoin maximalists and altcoin advocates, particularly XRP supporters, has entered a new phase of scrutiny and debate.
XRP lawyer Bill Morgan expressed concern that the administration’s Bitcoin focus could be limiting the U.S.’s potential for crypto innovation. In his view, the restriction of such a limited strategy could decrease funding for next-generation blockchain developments. This skepticism arises as government officials continue to emphasize Bitcoin over assets like XRP or other altcoins.
“Is the administration focusing too narrowly on bitcoin in its plans for a U.S. crypto reserve and neglecting other important cryptocurrencies?” asked Morgan on X.
Given the perception that there are those in the Administration and in Congress that seem to hold bitcoin or show a preference for bitcoin it is intriguing as the weeks and months pass to review whether the current Administration will give too much weight to the bitcoin
Part III: Finally, in terms of U.S. leadership in cryptocurrency, it is clear that the administration is prioritizing bitcoin over other cryptocurrencies. While this may be due in part to the fact that bitcoin is the largest and most well-known cryptocurrency, it is also likely a reflection of the administration’s own biases.
Morgan recently posed a question to AI platform GROK about the potential consequences of a Bitcoin-centric crypto policy. The platform responded by highlighting the dangers of neglecting different alternative blockchain developments.
“If the U.S. government is going to provide support for crypto, it should be doing so in a balanced way, supporting both bitcoin and other cryptocurrencies,” stated GROK. “If the government focuses solely on bitcoin, it will be neglecting other important areas of crypto innovation, such as decentralized finance (DeFi) and smart contracts.”
While support for Bitcoin strengthens one pillar of the crypto industry, ignoring altcoins could be detrimental to the overall development of the crypto ecosystem.
“The administration’s strategy seems to be limited to supporting bitcoin maximalists and their agenda, which could have the effect of stifling innovation and competition,” added the AI platform.
Morgan further insisted that actual innovation comes from the whole blockchain ecosystem which extends beyond XRP to encompass DeFi and smart contracts. He highlighted that these sectors require unbiased government backing. Without that, the U.S. may fall behind in blockchain advancement despite leading in Bitcoin adoption.
“Is the administration focusing too narrowly on bitcoin in its plans for a U.S. crypto hub and neglecting other important cryptocurrencies?” asked a crypto lawyer.
The question arises as President Trump’s administration continues to prioritize bitcoin in its plans for a U.S. crypto reserve. While bitcoin is certainly the largest and most well-known cryptocurrency, focusing solely on this asset could have the effect of stifling innovation and competition.
Moreover, it could lead to the administration making biased and uninformed decisions about which crypto projects to fund and support. This is especially important given that the administration has stated its intention to provide funding for next-generation blockchain developments.
Earlier this year, President Trump announced his intention to create a U.S. crypto reserve, a move that has been welcomed by bitcoin maximalists.
“We are going to make our own digital currency, the best currency in the world, and we are going to roll it out quickly,” said President Trump in April.
The president’s comments came in response to criticism from members of Congress who felt that the administration was not doing enough to support cryptocurrency.
“The U.S. is falling behind China and other countries in the crypto race,” said Rep. Tom Emmer (R-Minn.), the chair of the House Financial Services.
But critics of the administration’s bitcoin-centric approach argue that it is neglecting other important areas of crypto innovation.
“The administration’s strategy seems to be limited to supporting bitcoin maximalists and their agenda,” said a crypto law expert. “This is a mistake. The administration should be taking a broader view of crypto and supporting all of the promising projects that are being developed in the U.S.”
In addition to bitcoin, the administration should also be providing funding for projects in decentralized finance (DeFi), smart contracts, and other next-generation blockchain technologies. This would help to ensure that the U.S. remains at the forefront of crypto innovation.
The president’s administration is planning to create a crypto reserve patterned after the Bretton Woods agreement of 1944, which established the International Monetary Fund and World Bank. The goal of the crypto reserve would be
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- Dogecoin Cash, Inc. (OTC: CBDS) Completes Acquisition of One Billion (1,000,000,000) Dogecoin Cash (DOG) Tokens
- Mar 25, 2025 at 06:55 pm
- MESQUITE, NV, March 24, 2025 (GLOBE NEWSWIRE) -- March 24, 2025 Mesquite, NV Dogecoin Cash, Inc. (OTC: CBDS) is pleased to announce that its wholly owned subsidiary, MEME Coins Inc.
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- With Bitcoin now in the IMF's books and U.S. reserves, is global crypto reporting entering a new phase?
- Mar 25, 2025 at 06:40 pm
- The IMF's decision to formally account for digital assets like Bitcoin comes at a time when two very different nations — the U.S. and El Salvador — are taking visible and symbolic steps to anchor Bitcoin within their respective financial strategies.
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