XRP Is A Centrally Controlled Security, Says Silicon Valley Angel Investor

Angel investor Jason McCabe Calacanis stated on social media that XRP is a centrally controlled security, sparking disagreement from the XRP community. Calacanis believes that if XRP is allowed to trade like Bitcoin, it would undermine securities law and create market chaos, with startups and funds potentially dumping their holdings on retail investors. He suggested restricting XRP trading to accredited investors to protect them from risks. Community members countered his argument, citing XRP's decentralized structure with nearly 1000 nodes and hundreds of validators and referencing court rulings stating XRP is not a security. At the time of the article's publishing, XRP was trading at $2.64.