Ripple CTO lashes out at Vitalik Buterin for his XRP digging

David Schwartz, the CTO of Ripple, did not take Ethereum co-founder Vitalik Buterin’s dig at XRP very kindly. In a discussion that started around the recent $30,000 cap imposed by the Ontario crypto exchange on purchases of altcoins except Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

Buterin, in a quoted response to a tweet, praised the Ethereum community’s pushback against regulations that privilege ETH over other legitimate cryptocurrencies. David Hoffman, the founder of decentralized media and education platform Bankless.eth responded to Buterin and said that he would not have minded if they restricted XRP.

Buterin joined the XRP attack claiming that they forfeited their right to protection when they tried to “throw us under the bus like Chinese controlled.” Buterin’s response created a firestorm among XRP followers on Twitter, with Ripple’s own CTO David Schwartz later joining the debate.

Buterin was referring to Ripple’s defense in its ongoing court battle against the United States Securities and Exchange Commission (SEC), where they stated that XRP should not be considered a security since Ethereum and Bitcoin are similar in nature and even called to the two main cryptocurrencies as controlled by Chinese. Ripple is fighting an SEC security lawsuit over the unlicensed sale and issuance of XRP tokens.

Schwartz reiterated previous Ripple claims that ETH and BTC are security and compared miners in the ecosystem to eBay shareholders. He said:

“I think it’s perfectly fair to compare miners in PoW systems to shareholders in companies. Just as eBay shareholders gain from the residual friction between buyers and sellers that eBay doesn’t eliminate, so do ETH and BTC miners.”

Schwartz concluded his tweet with a question to Buterin, asking whether the security debate should be resolved by the government or the market.

The security status of Ethereum became a hot topic during the ongoing court proceedings, where Ripple claimed that the SEC has a clear bias against it and favored Ethereum. In an interview in 2021, Ripple CEO Brad Garlinghouse claimed that the SEC helped Ethereum overtake XRP as the No. 2 cryptocurrency.

Related: Alchemy and Infura block access to Tornado Cash as Vitalik Buterin weighs in on the debate

The security status of cryptocurrencies has been a long-standing debate due to the lack of regulatory guidelines. Most regulators around the world consider Bitcoin an asset, while there is still an ongoing debate about the status of Ethereum due to initial and pre-mine offerings (ICOs).