{"id":37453,"date":"2025-08-29T17:12:54","date_gmt":"2025-08-29T14:12:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37453"},"modified":"2025-08-29T17:16:16","modified_gmt":"2025-08-29T14:16:16","slug":"zachxbt-labels-ripple-cardano-and-hedera-as-insider-enrichment-schemes","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zachxbt-labels-ripple-cardano-and-hedera-as-insider-enrichment-schemes\/","title":{"rendered":"ZachXBT Labels Ripple, Cardano, and Hedera as &#8216;Insider Enrichment Schemes&#8217;"},"content":{"rendered":"<p>The operational model of Ripple, Cardano, and Hedera resembles financial pyramids, according to on-chain investigator ZachXBT.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">I discriminate against MLM chains<\/p>\n<p>\u2014 ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1960996062401036331?ref_src=twsrc%5Etfw\">August 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Currently, I do not assist the XRP community and will mock anyone who messages me with such requests,&#8221; he wrote, adding that he does not support <span data-descr=\"multi-level marketing, which shares characteristics with financial pyramids\" class=\"old_tooltip\">MLM<\/span> chains.<\/p>\n<\/blockquote>\n<p>In a <a href=\"https:\/\/x.com\/cryptodotnews\/status\/1961062462922387751\">now-deleted post<\/a> that sparked discussion, ZachXBT provided data on the movements of funds by Ripple co-founder Chris Larsen. Since July 17, an address associated with him <a href=\"https:\/\/forklog.com\/en\/news\/ripple-co-founder-chris-larsen-accused-of-xrp-dumping-by-crypto-community\">transferred<\/a> 50 million XRP (~$175 million) to four wallets. About $140 million was sent to exchanges.<\/p>\n<p>Some link the asset&#8217;s correction to Larsen&#8217;s actions. After reaching an all-time high of $3.65 in mid-July, the price of XRP retreated by more than 20%. At the time of writing, the altcoin is trading at $2.8.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"599\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-08-29-v-17.09.43-1024x599.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2025-08-29 \u0432 17.09.43\" class=\"wp-image-264752\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-08-29-v-17.09.43-1024x599.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-08-29-v-17.09.43-300x175.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-08-29-v-17.09.43-768x449.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-08-29-v-17.09.43-1536x898.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-08-29-v-17.09.43-2048x1197.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of XRP\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3AXRPUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The on-chain investigator stated that Ripple holders &#8220;bring no value to the industry other than providing exit liquidity for insiders.&#8221; He claimed the same applies to Cardano, Pulsechain, and Hedera.<\/p>\n<p>In a separate post, ZachXBT <a href=\"https:\/\/x.com\/zachxbt\/status\/1960999063895089408\">advised<\/a> victims of scams on the XRP Ledger to file reports with the <span data-descr=\"FBI division that collects and investigates cybercrime complaints\" class=\"old_tooltip\">IC3<\/span> and track stolen funds through exchanges. He emphasized that Ripple is unable to assist its community, calling its fund &#8220;stingy.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Unlike other blockchains, the Ripple Foundation no longer funds public goods and does not support the community,&#8221; the expert stressed.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Community Reaction<\/h2>\n<p>Users had mixed reactions to ZachXBT&#8217;s statements. Some were surprised by his criticism.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I like zach and im a little taken back at the fact that i would have thought even he would understand it takes capital to move mountains in this sphere\u2026 adoption comes with a price and ngl, from what im seeing, <a href=\"https:\/\/twitter.com\/search?q=%24XRP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$XRP<\/a> is about to be globally mass adopted by gov and financial\u2026<\/p>\n<p>\u2014 Jive_Turkey17 (@Jive_Tukey) <a href=\"https:\/\/twitter.com\/Jive_Tukey\/status\/1961287669448917481?ref_src=twsrc%5Etfw\">August 29, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I like Zach, but I thought he would understand that it takes capital to move mountains in this industry. Adoption requires costs, and honestly, from what I&#8217;m seeing, XRP is about to be globally mass adopted by governments and financial sectors worldwide. That scale is the &#8216;free&#8217; value,&#8221; wrote community member Jive_Turkey17.<\/p>\n<\/blockquote>\n<p>A user under the pseudonym cryptopainter <a href=\"https:\/\/x.com\/painter_crypto\/status\/1961251552343310736\">drew<\/a> a parallel with Vitalik Buterin:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;How is this different from when Vitalik sells Ethereum, or [Jeff] Bezos sells Amazon shares? Founders deserve rewards.&#8221;<\/p>\n<\/blockquote>\n<p>However, many supported ZachXBT, <a href=\"https:\/\/x.com\/LordMangX\/status\/1961272324021207512\">calling<\/a> Ripple an &#8220;old story&#8221; without real value that enriched itself at the expense of investors.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">He&#8217;s correct. 100%<\/p>\n<p>Ripple Labs regularly dumps XRP on its holders that it gifted itself in an early *missing* portion of the blockchain ledger. That\u2019s not a fair distribution.<\/p>\n<p>It means founders of Ripple Labs get wealthy off the back of the community. \ud83d\udc47<a href=\"https:\/\/t.co\/8SgTJfg5ta\">https:\/\/t.co\/8SgTJfg5ta<\/a><\/p>\n<p>\u2014 Colin Talks Crypto \ud83e\ude99 (@ColinTCrypto) <a href=\"https:\/\/twitter.com\/ColinTCrypto\/status\/1961086396032004242?ref_src=twsrc%5Etfw\">August 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;He&#8217;s correct. 100%. Ripple Labs regularly dumps XRP \u2014 tokens the company received early in the blockchain&#8217;s launch. This is not fair distribution,&#8221; noted crypto enthusiast Colin Talks Crypto.<\/p>\n<\/blockquote>\n<p>Earlier in August, Ripple&#8217;s CTO David Schwartz <a href=\"https:\/\/forklog.com\/en\/news\/ripples-cto-declares-xrp-ledger-fully-decentralised\">responded<\/a> to criticism regarding the decentralization of the XRP Ledger.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The operational model of Ripple, Cardano, and Hedera resembles financial pyramids, according to on-chain investigator ZachXBT.<\/p>\n","protected":false},"author":1,"featured_media":37454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Users had mixed reactions to ZachXBT's statements.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1401,1365,112,1246],"class_list":["post-37453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cardano-ada","tag-hedera-hashgraph","tag-ripple","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"381","promo_type":"1","layout_type":"1","short_excerpt":"Users had mixed reactions to ZachXBT's statements.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=37453"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37453\/revisions"}],"predecessor-version":[{"id":37455,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37453\/revisions\/37455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/37454"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=37453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=37453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=37453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}