Sunday, February 5, 2023

New Weiss Cryptocurrency Ratings Rumored to be Released, Gets Bashed

New Weiss Cryptocurrency Ratings Rumored to be Released, Gets Bashed

Although unconfirmed for now, pictures have begun circulating in the cryptoverse purporting to show Weiss Ratings’ latest cryptocurrency report. And while the alleged report notably gives compliance-minded smart contract platform NEO an A- rating, it’s being almost universally denounced — whether authentic or not.

Also see: Ex-JPMorgan Energy Head: Bitcoin, Cryptocurrency a “True Financial Revolution”

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Real or Not, Traders Shake Their Heads

After Weiss Ratings’ first cryptocurrency report was nothing short of controversial, many investors in the space have come around to saying the company should be disregarded altogether.

Cue the controversy again, then, as chatter’s growing on social media regarding purportedly leaked pictures of Weiss Ratings’ latest report. The validity of these pictures are as yet unconfirmed, as fakes have ciruclated in the past. A copycat listing Tron (TRX) as A++ did circulate alongside the agency’s inaugural report, for example.

The alleged leak. Image via u/TradeYum

But the pictures’ authenticity hasn’t stopped cryptocurrency denizens from bashing the ratings anyways. Upon being posted on r/Cryptocurrency and other similar crypto-based subs, Redditors quickly began eviscerating the apparent ratings in droves.

The bashing commences.

Looks like a strong contingent of community has turned on Weiss altogether. That dynamic doesn’t seem poised to change in the short-term, either.

If True …

Let’s just say, speculatively, that this new leak is true. With NEO’s A- rating, it would signal the first time that the ratings agency has given a project a rating above B+.

Other notable standouts from the alleged report include:

  • Bitcoin (BTC) C+
  • Cardano (ADA) B-
  • Decred (DCR) B-
  • EOS (EOS) B-
  • Ethereum (ETH) B+
  • Lisk (LISK) B
  • Ripple (XRP) B+
  • Steem (STEEM) B
  • Stellar (XLM) B+

Glancing over that list, it’s clear that institutional plays like Ripple and Stellar and platform plays like NEO, Lisk, and Ethereum are being favored.

So if someone did fake the report, that’s probably what their bags look like currently.

What’s your take? Do you think that these ratings are authentic or inauthentic? If they were true, do you agree with NEO’s A- rating? Sound off in the comments below. 

Images via Reddit, Pixabay

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