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The controversy related to the fact that Ripple's XRP should be considered as a security has appeared again since it was ruled out today in the launch of the Morgan Creek Fund, a related background crypt that offers its users the ability to access some of the best criptos on the market.
In this sense, every time we mention top cryptos & # 39; we can not avoid thinking of Ripple (XRP), the third largest cryptocurrency by market capitalization. However, apparently, the third largest cryptography is not taken into account by the fund due to centralization problems. Let's see all the details about this.
Morgan Creek Fund
The Morgan Creek Fund was created in collaboration with Anthony Pompliano, who previously owned a company called Tilt Capital, a company acquired by Morgan Creek at the start of the 39; year for an amount that has not been revealed since the partnership began.
At the beginning of this year we knew from the same Pampliano that he wanted to concentrate mainly on cryptography, but it was not until Morgan Creek managed to collaborate with the fund's sponsor Bitwise Investment Advisors , LLC ; when the project started to form.
Recall that at the beginning of this year Bitwise also launched an encrypted fund called HOLD 10 . However, Hunter Horsley, co-founder of Bitwise made it clear that the main difference between the two projects focuses on the committee, as Mark Yusko, CEO of Morgan Creek, Pompliano, and Matt Hougan, head of Bitwise's research, are part of the group . advice from consultants.
In relation to the fund, it was known that it carries assets for $ 1.5 billion and will provide pensions, wealthy families, donations and accredited investors with an exposure to encrypted such as Ethereum (ETH), Zcash, Monero, Litecoin ( LTC), Omisego, Cash Bitcoin (BCH), EOS, Dash, Ethereum Classic (ETC) and of course Bitcoin (BTC).
Among the excluded coins we can find Ripple (XRP), TRON (TRX), Stellar (XLM), Cardano (ADA) and other tokens that according to Morgan Creek may represent a risk in the future.
About this, Pompliano stated that,
"If there is a central party that owns 30% or more of an offer" that would be reason enough for the index to prohibit such encryption of the Fund. He went on to say that those coins with high percentages of their cryptography have great opportunities to control the way the coin will perform, and that it simply "introduces many additional risks that may not be there if it were a more decentralized network".
In relation to this, all coins that fall into this description are considered pre-extracted encrypted, coins that were mostly created in the early stages of the blockchain. For his part, Horsley states that "
" with the decentralization that is a cornerstone of most blockchain design, having a large portion of centrally held business is at odds with this and could create complexities that differ from what we We would wait for a public blockchain. "
Conclusion
The decision of the Morgan Creek fund is certainly a low blow for Ripple, who has made significant efforts to dispel the voices of their centralization problems, yet the company continues to occupy the third place in the market capitalization market
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Disclaimer: This article should not be taken as and is not intended to provide investment advice: Global Coin Report and / or its affiliates, employees, writers and subcontractors are invested of cryptocurrency and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct a thorough research before investing in any cryptocurrency and read our full disclaimer
Photo by Isaiah Rustad on Unsplash
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