Ripple and Bitcoin accused of role in financing terrorism: The crypto community reacts!

Recently, Israel froze several crypto wallets suspected of having links to Hamas. In the wake of this news, American authorities made certain statements. They specifically cited certain major cryptos, Bitcoin and Ripple, as means of financing terrorism. Enough to make the crypto community react.

The American government, questioned for its statements against Ripple and Bitcoin

The State of Israel’s decision to freeze crypto assets allegedly linked to Hamas has not made anyone happy. As you might expect, it provoked strong reactions within the industry, but not for the reasons you might think.

Indeed, what made the crypto community react, it’s not so much the decision itself. But statements from the US government regarding certain cryptos. In this case, it concerns bitcoin and Ripple which would be used to finance terrorism.

“Terrorism financiers and other criminals are using the official financial system, new payment methods such as bitcoin and [XRP de, Ndlr] Ripple, traditional methods of value transfer such as hawala, trade-based money laundering, and cash couriers »we can read in an American government statement.

These allegations that link XRP to the financing of terrorism have not left users indifferent. Members of the Ripple community, including wEeZiE, aka NerdNationUnbox, have expressed their displeasure.

The US government accused of wanting to destroy the crypto industry

NerdNationUnbox sees in the declarations of the American government, a deliberate desire to “sack” industry. Especially when a protocol with great potential like Ripple is unfairly questioned, to the detriment of assets like bitcoin or ether.

To support his argument, the crypto enthusiast links US Secretary of State Antony Blinken to crypto investment firm Genesis. According to him, the father of this American statesman was the co-founder of the Warburg Pincus company.

This private equity firm is said to be one of two investors in Genesis. A funny coincidence since Genesis has been the subject of much criticism for its involvement in various scandals, notably the spectacular sinking of FTX.

What NerdNationUnbox seems to be saying through these facts is that the government would use Ripple (XRP) in a negative way in its speeches. This, with the aim of discrediting the entire crypto industry.

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