Published
3 years ago on
December 13, 2020
Quick take
1 minute read
- Bitstamp has just recently apologised after it shared a market update to report initially claiming not to reflect the companies “views or values.“
- In a tweet, they issued an apology for posting the “crypto thesis for 2021” report from Messari and its founder and CEO Ryan Selkis.
Bitstamp, a prominent crypto platform has just recently apologised after it shared a market update to report initially claiming not to reflect the companies “views or values.“
In a tweet from the platform published earlier this week, they issued an apology for posting the “crypto thesis for 2021” report from Messari and its founder and CEO Ryan Selkis. Specifically, the San Francisco-based XRP token was noted and described as “a toxic waste.” The CEO even went on to talk about the forks of bitcoin noting them as “piles of sh*t.”
“These are toxic assets propped up by regulatory capture, and they go against everything that got me into crypto."
The original tweet from Bitstamp has been removed and in their apology, they noted that the report was inconsistent with the company and its values. Furthermore, they add that some aspects of the report was “disrespectful“ to the crypto community.
2/3 We did not complete a thorough enough review of the 130+ page report before it was published. This is on us, we should have done better.
— Bitstamp (@Bitstamp) December 9, 2020
3/3 Our goal with sponsoring crypto research reports is to bring a diverse variety of viewpoints and insights to the public free of charge (even if they do not fully reflect our own views) but only so far as they are not disrespectful toward any part of the community.
— Bitstamp (@Bitstamp) December 9, 2020
Ryan himself even responded saying that he was going for a “humorous tone“ in order to keep the readers wanting to read on.
However, he didn’t just say that the San Francisco token was “toxic waste.“ He also added that it was like a “snake oil“ and specifically highlighted that he wouldn’t be changing his opinion any time soon in the future.
I’m aware of my biases, I’ve just done 100x more work than most on actually understanding XRP and it’s snake oil.
— Ryan Selkis (@twobitidiot) December 9, 2020
The community was generally supportive of the apology notice from the exchange saying that it was a well thought through reaction and quickly responded. Ryan went on to say:
“Bitstamp may have expected a more cerebral ‘Pro’ piece from our analysts vs. the yearly [company] hot takes. I don't blame them for being caught off guard.”
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