A pronounced difference in perspective on memecoins emerged during the XRP Apex 2025 conference as Ripple CEO Brad Garlinghouse and President Monica Long offered contrasting assessments of their role in the cryptocurrency industry.
Ripple President Monica Long advocated for recognizing the positive contributions of memecoins. She argued that despite their significant volatility and susceptibility to scams, memecoins have demonstrably driven new user adoption into the cryptocurrency space. Furthermore, she highlighted their role in fostering innovation within blockchain infrastructure development. Long drew parallels between the current memecoin phenomenon and Ethereum’s initial coin offering (ICO) boom in 2017, stating both catalyzed ecosystem growth.
Countering this view, CEO Brad Garlinghouse delivered strong criticism, labeling memecoins as ‘grossly overrated.’ He emphasized Ripple’s strategic focus on developing and supporting products and cryptocurrencies possessing tangible real-world utility and long-term viability. Garlinghouse raised concerns about the reputational risks memecoins pose to the broader crypto industry and warned of increased regulatory scrutiny as a consequence of their association with scams and market manipulation.
Garlinghouse did acknowledge having underestimated one memecoin phenomenon, crediting Elon Musk’s persistent advocacy for contributing to Dogecoin’s unexpected mainstream resilience. However, he reiterated Ripple’s steadfast dedication to building core solutions designed for financial functionality, distinct from memecoin activity.
The exchange underscored a fundamental tension within the crypto sector: balancing the cultural impact and community engagement fueled by memecoins against the critical imperatives of fostering sustainable growth and ensuring regulatory compliance across the industry.