XRP

But the company is managing a “bridge currency” [XRP] that they package to retail investors who buy on the assumption that they are front-running big bank purchasers.

Ripple is far from trust-minimized. As a result, it has high governance costs, including the disputes described here, and poor social scalability.

In the case of XRP, we believe that the token holds little utility beyond payment of negligible fees and thus is unlikely to maintain and build value in the long-term. While we expect that XRP tokens will continue to see price spikes as Ripple Inc. makes announcements, we don’t believe that the fundamentals of the protocol will build sustained value for XRP.

XRP is a security. Ripple is the issuer. Brad Garlinghouse, Chris Larsen, and other Ripple executives are subject to the anti-fraud laws under SEC jurisdiction.

Big picture: I have nothing against Ripple or XRP. It's not a scam. It may have a killer use case. Just need to acknowledge that more than 50% of XRP is owned by one company, and most trusted nodes are run by that same company, and some assets on ledger can be frozen.

It's not that I stopped liking Ripple. I didn't agree with how the company was being run and...that they were keeping all the XRP rather than distributing most of it like we had originally planned.