Thursday, July 18, 2019

Ripple Removes Cory Johnson As The Chief Market Strategist

Out of all the talks behind the elimination of Ripple’s Chief Market Strategist, Cory Johnson. The company finally confirms the rumor.

No More Chief Market Strategist

According to the Ripple’s Spokesperson — Tom Channick, the elimination of Cory Johnson as the company’s Chief Market Strategist is true, however, the reasons behind his removal were said to be ‘due to changes in market conditions.’

“Cory’s last year at Ripple was a success in representing the company to investors, press and regulators. Cory helped Ripple with strategy internally and overall industry education. But due to changes in market conditions, we’ve chosen to eliminate the role of Chief Market Strategist,” Channick said on Coindesk.

Cory Johnson’s Role In Ripple

Cory Johnson is known through his expertise on being part of Bloomberg for almost 8 years after he left the network as Ripple’s market strategist in 2018. Although, back then, many were shocked in this announcement, Ripple firmly sided with Johnson as having a professional background with hedge funds.

Technically, the job requirement of Johnson is to educate and explain how systems of Ripple works for their investors.

“The role of Ripple as a company and XRP as a currency in financial markets, to regulators, financial institutions and investors could use more explaining. I’m going to try and explain, listen and set strategies to make it easy for Wall Street and the world of finance to understand what we’re doing,” Johnson said on his first day in ripple.

However, since he got hired, he became an evangelist of Ripple’s promos and products and became the company’s key spokesperson in promoting XRP as Ripple’s major product.

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Since there were no definite outline of why Johnson was removed from his position in Ripple, the company’s controversial stance with XRP, up until now, rumored to be one of the reasons behind the removal.

Ripple And XRP

Back in last years, Ripple got into a confusing stance as investors claimed to associate XRP as dependent on the company. Some even said that Ripple invented XRP which the company denied by saying that they were only involved in it in the early days.

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Johnson even fought for Ripple in this issue by saying that he believed on Ripple’s aim to give an intrinsic value for the coin.

“But what I saw in Ripple was something different than what I see in some of these other ones, and certainly a lot of these ICOs: that the activities of the software company create value in the asset, an underlying intrinsic value. I believe that Ripple’s going to able to demonstrate an intrinsic value for XRP that some of these sillier coins and assets don’t have and won’t have,” Johnson explained on Yahoo!.

Up until now, Johnson has still no comment regarding his removal in Ripple.

Elizabeth Jamie
Jamie Elizabeth is a Mass Communication Graduate from the Philippines, knowledgeable in the field of cryptocurrencies, blockchain etc., currently enjoying freelance writing, and able to write anything under the sun.

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