Ripple co-founder Chris Larsen stated that the firm did not fund the Change the Code campaign, which was launched several years ago by environmental organizations in collaboration with Greenpeace.
The campaign aimed for Bitcoin developers to abandon the energy-intensive Proof of Work (PoW) consensus method. Larsen explained that he personally supported this initiative, so it should not be viewed as corporate actions by Ripple. Larsen acknowledged that Bitcoin has made progress in terms of energy consumption.
The co-founder of Ripple mentioned a study by the University of Cambridge, which found that miners are increasingly using renewable sources — nuclear and wind energy — as well as utilizing excess energy from hydroelectric plants for Bitcoin mining. Energy from burning gas, which could otherwise go to waste and negatively impact the atmosphere, is also used for mining.
"At the beginning of 2023, when I funded the Change the Code campaign, I wanted to find out if Bitcoin could directly capture air. The campaign did not work, and that's okay! I want to note: Ripple did not fund this initiative. Personally, I am glad to see the emergence of 'Satoshi's Skull', which serves as a reminder of environmental protection and innovation," Larsen wrote on social media.
The first installation of Greenpeace 'Satoshi's Skull' was created to demonstrate the ecological dangers of the Bitcoin consensus mechanism, which consumes a large amount of energy. The artwork is made from electronic waste, wires, and circuit boards. It reappeared at the Bitcoin Conference 2025 in Las Vegas and is now displayed at the Bitcoin Museum in Nashville.
Larsen advised Bitcoin developers to switch to another consensus algorithm, Proof of Stake (PoS), back in 2021. According to Larsen, this would reduce the carbon footprint of Bitcoin mining and allow it to dominate among other cryptocurrencies in the future.
