CoinMarketCap (CMC) was at the center of a controversy today after the market data aggregator tweeted that Ripple<\/a>\u2019s XRP<\/a> wasn\u2019t a real cryptocurrency.<\/p>\n CMC had shared an image of a game that required the players to find the impostor amongst digital assets like <\/span>Bitcoin<\/span><\/a>, <\/span>BNB<\/span><\/a>, <\/span>Ethereum<\/span><\/a>, XRP, and others.<\/span><\/p>\n While the controversial tweet has now been deleted, it lasted long enough to get the crypto Twitter community talking about each asset in the game. According to CMC, XRP was the impostor because it doesn\u2019t have the qualities of a real cryptocurrency, as it is governed and controlled by a central authority. It continued that \u201call the other coins in this are decentralized and are basically \u201cpeople\u2019s crypto.\u201d<\/span><\/p>\n The statement has garnered a lot of outrage from the many XRP supporters who said that the aggregator was only showing its bias against the token.<\/span><\/p>\n One user pointed to how the site \u201cremoved XRP\u2019s volume stats from Korean markets without warning in early \u201918.\u201d They further accused CMC of creating FUD with ulterior motives.\u00a0<\/span><\/p>\n It\u2019s clear $XRP<\/a> holders have to deal with the most utter nonsense on CT.<\/p>\n Remember, this is the site that removed #XRP<\/a>\u2019s volume stats from Korean markets without warning in early \u201818.<\/p>\n FUD like this reeks of ulterior motives! https:\/\/t.co\/vIAmZVdOWa<\/a><\/p>\n \u2014 XRPGoat (@XrpGoat) April 29, 2022<\/a><\/p>\n<\/blockquote>\n Another user also accused CoinMarketCap of being biased for leaving wrong information about XRP on its page for more than two years. The fact that Binance Holdings own CoinMarketCap has also led some to take a dig at BNB, asking whether it\u2019s decentralized.<\/span><\/p>\n You aim to be “unbiased” but you still haven’t fixed the wrong information on XRP’s description on your page for over 2 years now. What game are you playing?https:\/\/t.co\/nmiQlG2LSs<\/a><\/p>\n \u2014 Panos 🔺 ☀️ {X} (@panosmek) April 29, 2022<\/a><\/p>\n<\/blockquote>\n But there are still those in the crypto community who believe that CMC was right. According to them, this is not far from the truth, citing the <\/span>ongoing case<\/span><\/a> between Ripple and the Securities and Exchange Commission (SEC) over whether the token is a cryptocurrency or unregistered security.<\/span><\/p>\n They weren’t wrong through lol, xrp is really centralized .. anyone who says otherwise, works for them or has heavy bags<\/p>\n \u2014 Clara (@claraeuro) April 29, 2022<\/a><\/p>\n<\/blockquote>\n CoinMarketCap has since apologized for the deleted tweet claiming that it was a mistake. The aggregator stated that it does not concern itself with the merits of any cryptocurrency.\u00a0<\/span><\/p>\n We made a mistake \u2014 #CoinMarketCap<\/a> does not want to compare the merits of any crypto over the other. \u2014 CoinMarketCap (@CoinMarketCap) April 29, 2022<\/a><\/p>\n<\/blockquote>\n The tweet further explained that \u201ca new team member was not familiar enough with our policy on commenting on other projects, but now they are! We aim to be unbiased and let the algorithms do the talking.\u201d Whether XRP is a cryptocurrency or not is the subject of the ongoing legal battle between the SEC and Ripple. The case, which was recently extended to November 15, was initiated by the commission in 2020.<\/p>\n The regulator claimed that XRP is an unregistered security according to the Howey Test, a claim that Ripple denies. The commission says that the centralization of XRP makes it a security, unlike digital assets like Bitcoin, which it considers to be decentralized.<\/p>\n However, Ripple disagrees, saying that XRP qualifies as a cryptocurrency even if it is centralized. The CEO, Brad Garlinghouse, in a recent statement<\/a>, said that the \u201conly country on the planet that thinks XRP is a security is the United States.\u201d<\/p>\n Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n On-chain analysis<\/strong><\/p>\n Price snapshots<\/strong><\/p>\n More context<\/strong><\/p>\n<\/div>\n Join now for $19\/month<\/a> Explore all benefits<\/a><\/div>\n<\/div>\n
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XRP community lashes CoinMarketCap<\/b><\/h2>\n
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CoinMarketCap apologizes<\/b><\/h2>\n
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A new team member was not familiar enough with our policy on commenting on other projects, but now they are!
We aim to be unbiased and let the algorithms do the talking.<\/p>\n
<\/span><\/p>\nIs XRP a cryptocurrency?<\/strong><\/h2>\n
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