Ripple CEO Says Dogecoin is ‘Not a Good Thing’ for Crypto

Speaking at the recent 2024 Consensus Conference, Ripple CEO Brad Garlinghouse recently addressed the growing meme coin craze and its leading asset, Dogecoin (DOGE). Specifically, Garlinghouse said, “I don’t think Dogecoin has been a good thing for the industry.”

The meme coin market has observed a surge in interest throughout 2024 thus far. However, it has not seen DOGE be usurped as the leading asset in that class thus far. Conversely, Garlinghouse has taken aim at the token for its lack of utility and overall development.

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Ripple’s CEO Calls Out Dogecoin (DOGE)

The digital asset market is an ever-growing industry committed to the expansion of cryptocurrencies and a new generation of finance. What makes it so exciting are the continual projects that target different growth areas and provide differing opportunities for various participants.

Yet, this variety can sometimes cause dissension among those who are working to promote the prosperity of the industry as a whole. That appears to have taken place with Ripple CEO Brad Garlinghouse, who recently targeted Dogecoin. Specifically, he spoke about his perception of the asset’s negative influence on the overall cryptocurrency asset class.

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“You know, I get a ton of s***t when I say these things, but I’m going to say it anyway. I don’t think Dogecoin has been a good thing for the industry,” Garlinghosue said. However, he also ensured that he is “not anti-Dogecoin” but explained, “I don’t know what the use case is.”

That same inquiry has often been a reason for many in the industry to question the merits of Dogecoin. The cryptocurrency birthed the meme coin market and created an opening for a plethora of similar joke coins. For a company like Ripple, committed to cross-border payment accessibility and the utilization of these digital assets, that can be a point of contention when observing DOGE and other meme coins.