Legal Expert Refutes Wrong Claims About Ripple’s XRP Holdings

Legal analyst Hailey Lennon recently made a claim regarding XRP ownership, suggesting that Ripple controls between 45-55% of the total supply and that its executives frequently sell their holdings.

She compared this to BlackRock’s Bitcoin holdings, which she stated are primarily composed of customer funds, and to Satoshi Nakamoto’s wallets, which contain 5% of Bitcoin’s supply but remain untouched.

Lennon’s comment sparked a response from crypto lawyer Bill Morgan, who criticized her statement as misleading and based on outdated data. He pointed out that the percentage of XRP held by Ripple has significantly decreased since 2018, particularly due to the structured release of XRP through Ripple’s escrow system.

Bill Morgan’s Response and XRP Escrow Data

Bill Morgan directly refuted Lennon’s claim, calling it an “egregious lie” and arguing that she relied on obsolete information. He clarified that Ripple’s XRP holdings in escrow have now dropped below 38%, a significant reduction from past figures.

This statement was supported by an attached image showing that the current escrowed amount is approximately 37.7 billion XRP, less than 38% of the total 100 billion XRP supply.

Morgan also emphasized that Ripple’s percentage ownership of XRP continues to decline over time. Unlike Bitcoin, where entities like MicroStrategy and BlackRock are increasing their holdings, Ripple’s control over XRP is decreasing due to the programmed escrow release system.

His argument suggests that, if current trends continue, Bitcoin’s supply will become increasingly concentrated in a few institutional hands, while Ripple’s influence over XRP will continue to diminish.

Bitcoin and XRP Ownership Comparisons

Morgan’s response raises an important issue about cryptocurrency ownership distribution. While Bitcoin proponents often criticize XRP for being too centralized, they overlook the increasing concentration of Bitcoin in the hands of large institutions such as BlackRock and MicroStrategy. The latter has been steadily acquiring Bitcoin, while BlackRock’s exposure to Bitcoin is primarily through ETFs and institutional holdings.

Morgan posed a rhetorical question, asking what Bitcoin advocates will say when BlackRock and MicroStrategy’s Bitcoin ownership percentage surpasses Ripple’s declining share of XRP. His response highlights a broader debate about decentralization in cryptocurrency, challenging the notion that Bitcoin is inherently more decentralized than XRP.

A separate user in the discussion dismissed the arguments from Bitcoin maximalists, stating that engaging in such debates is a waste of time. This reflects a growing sentiment among some XRP supporters that Bitcoin advocates selectively criticize other digital assets while ignoring trends within their ecosystem.

Bill Morgan’s rebuttal underscores how narratives about cryptocurrency ownership can be shaped by outdated information. Ripple’s control over XRP is declining due to its escrow mechanism, while the institutional concentration of Bitcoin is rising. This debate will continue as ownership dynamics shift in the coming years.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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