Bloomberg Crypto Analyst James Seyffart Sparks Controversy with XRP Joke at Bitcoin Conference

James Seyvart, Bloomberg's chief crypto analyst, has sparked controversy after making a joke about XRP at a Bitcoin conference. It has attracted international attention after a tweet containing Seyvart's comments during an interview with BlackRock's head of digital assets circulated online.

Bloomberg’s lead crypto analyst, James Seyffart, has sparked a heated debate after making a lighthearted jab at XRP during a Bitcoin conference. The comment garnered international attention when a tweet surfaced, detailing Seyffart’s remarks during an interview with BlackRock’s head of digital assets.

According to the tweet, Seyffart's XRP joke drew heavy criticism from the XRP community on social media, prompting Seyffart to clarify his support for Ripple.

In response to the backlash, Seyffart took to Twitter, where he noticed that the XRP community was attempting to cancel him over his joke. His initial reaction was lighthearted, indicating that he was unfazed by the criticism.

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To all the XRP guys I mentioned. I don’t hate XRP. It was a joke directed at my audience and a joke that went down well. Hell – I fully support Ripple in court against the SEC. I personally think the SEC has overstepped its bounds in many areas including Ripple/XRP.

— James Seyffart (@JSeyff) July 26, 2024

Addressing the backlash more seriously, Seyffart clarified his stance in a follow-up tweet, stating that he doesn't "hate XRP." It was merely a joke intended to resonate with his audience.

Furthermore, he expressed support for Ripple in its ongoing legal battle with the SEC, denouncing what he perceives as an overreach of the agency's jurisdiction.

Seyffart also suggested that the community might want to reconsider its priorities and adopt a more lighthearted approach if they're getting worked up over an off-the-cuff joke. He reiterated his support for Ripple and suggested that such jokes should be taken in stride.

This all comes as XRP has been putting in a strong performance. At the time of writing, XRP was trading at $0.6081, according to CoinMarketCap, showing a 1. 1.87% gain over the last 24 hours. The increase over the last seven days was 2.85%.

Even more notably, XRP has outperformed Ethereum, rising by 34.24% in the last two weeks - CNF reported. Experts are bullish on XRP's future, expecting the token to continue rallying.

In related news, Ripple's general counsel, Stuart Alderoty, has made headlines by donating $300,000 worth of XRP to Donald Trump's election campaign. This move by Alderoty highlights Ripple's continued presence and influence, not just within the cryptocurrency landscape.

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