New Project Backed by Ripple Co-Founder Faces Heavy XRP Community Backlash

A new blockchain project, Yellow, that previously attracted $10 million in personal investment from Ripple co-founder Chris Larsen has faced massive criticism from members of the XRP community immediately after the listing of its token. Observers’ attention was drawn to asset-selling operations from a wallet that is linked to the developers. The project’s token was launched simultaneously on the Ethereum and XRP Ledger (XRPL) networks. Due to the absence of a direct technical bridge between the blockchains and high initial demand, the asset’s price on XRPL turned out to be significantly higher than on the Ethereum network. During this period, tokens worth about 20,000 XRP were sold on the XRPL market from a wallet associated with the startup’s team.

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