VanEck's Head of Digital Assets Research, Matthew Sigel, has sparked controversy with a sarcastic remark questioning the value of XRP's blockchain. The comment, made on November 14, 2025, drew a sharp response from Ripple's CTO, David Schwartz, who defended XRP's real-world applications, particularly in cross-border payments. Schwartz criticized Sigel's focus on passive income, arguing it overlooks blockchain's fundamental principles. The XRP community also expressed discontent, highlighting the timing of Sigel's comments, which coincided with the launch of the Canary Capital XRP ETF. The backlash underscores ongoing tensions between traditional finance perspectives and the cryptocurrency community's emphasis on blockchain utility.