Craig Wright Describes Ripple and XRP as a Pyramid Scheme Which Will End Soon

Craig Wright: Outcome of Case Against Bitcoin Developers Will ‘End’ Ripple and XRP.

Wright continues on his warpath with Ripple and the XRP community.

Australian computer scientist and self-acclaimed Bitcoin creator Craig Steven Wright has asserted that the outcome of his case against Bitcoin core developers will end Ripple and XRP.

The 53-year-old computer scientist made this claim in a tweet on Saturday. According to Wright, the XRP community is following the case filed by his Seychelles-based company, Tulip Trading, because it is aware of this outcome. Wright said this, describing Ripple and XRP as a pyramid scheme.

“There is a reason why the XRP cultist army is following the Tulip Trading case so closely,” Wright wrote in the tweet. “They completely understand that this will end the pyramid scheme that is Ripple and XRP.”

Notably, Wright believes that the case will prove that most blockchains, including the XRP Ledger, are not decentralized but controlled by developers like Ripple, who change the rules frequently to decide winners and losers.

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The computer scientist’s latest attack against Ripple and the XRP community comes after a court in the United Kingdom ruled on Friday that the Tulip Trading case will go to trial. Notably, the court initially dismissed Tulip Trading’s case in March 2022. However, following an appeal, it is now set to go to a full trial in London next year, as the judge asserted that the firm’s claims amounted to a “serious issue to be tried,” per a CITY A.M. report.

Wright, under Tulip Trading, is suing Bitcoin core developers to recover 111,000 BTC he allegedly lost access to after his home computer was hacked. Tulip’s case claims that developers owe “fiduciary” and “tort” duties to users. Consequently, he requests that the court force the developers to change the Bitcoin code so he can recover the keys to the addresses.

The 16 developers named in the filing are Wladimir Jasper van der Laan, Jonas Schnelli, Pieter Wuille, Marco Patrick Falke, Samuel Dobson, Michael Rohan Ford, Cory Fields, George Michael Dombrowski, Matthew Gregory Corallo, Peter Todd, Gregory Fulton Maxwell, Roger Ver, Amaury Séchet, Jason Bradley Cox, the Bitcoin Association for BSV, and Eric Lombrozo.

Unsurprisingly, the latest development in the case has attracted a flurry of responses from the crypto community, including Ripple’s chief technology officer, David Schwartz. Schwartz described the lawsuit as “nonsensical.”

It is worth noting that Wright has been on a warpath with Ripple and the XRP community since a heated Twitter exchange with Schwartz last December. Notably, Schwartz described a tweet from Wright on institutional adoption as “dumb,” kicking off a feud that has endured to date, with the latter vowing to write a paper on XRP to support the US Securities and Exchange Commission’s case against Ripple.

James Ramsden, who represents 13 developers in the case, has described his clients as “incredibly nervous,” per a Reuters report. Recall that Block chief executive officer Jack Dorsey last year announced the launch of a fund to support Bitcoin developers in lawsuits, particularly with this case in mind.

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