Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
As broken by CoinDesk, Ripple and its CEO Brad Garlinghouse are being currently being sued by a relatively unknown Puerto Rican company called Bitcoin Manipulation Abatement (BMA). In total, Ripple and Brad Garlinghouse are accused of violating both federal and state (California) laws on seven different counts.
The lawsuit pertains primarily to the XRP token sale, which Ripple conducted back in 2013 and successfully raised USD $1.1billion . BMA alleges that these funds were raised fraudulently - with the token sale constituting an unregistered securities sale as defined by regulatory authorities such as the Securities and Exchange Commission (SEC) in the USA.
According to the lawsuit, one of the main reasons for this is that the XRP token had no utility at the initial time of sale in 2013, meaning that all of its value was derived from value speculation.
This legal battle against plaintiff BMA isn't the first legal controversy facing Ripple lately, nor is it likely to be the last.
In late April 2020, Ripple CEO Brad Garlinghouse announced in a series of tweets that he and Ripple had decided to take YouTube to court with allegations that the social media platform had “failed to police their platforms from being abused by the entirely preventable imposter giveaway scams” - calling it the “epicenter for imposter scams” and claiming that it had “done next to nothing in response to our constant takedown requests”.
He continued to suggest that “YouTube’s inertia is indicative of an industry-wide problem of a lack of accountability” - making comparisons to Instagram also.
Twitter has previously stressed publicly that it would be banning all cryptocurrency advertising on its platform - and so if these allegations are true: it implies some level of hypocrisy, and a little irony.
Ripple’s CTO David Schwartz had his channel suspended by YouTube shortly following the filing of this report, although it is difficult to conclude whether this is related to the lawsuit.
In other Ripple news (or more like: non-news) is a rumour which began circulating yesterday that Brad Garlinghouse had accidentally revealed news of a big new acquisition after a live interview with CNN, mistakenly believing he was not on-air when the comments were made.
The news was published on Coil by an author who goes by the username @XRP_Productions. According to a transcript published by the author, Garlinghouse said the following off-camera into a live microphone:
"I wish I could have told her about us buying R3… Oh well, we'll be able to talk about it later this month. Hey, you wanna watch some more Tiger King? God, I just loooooove that show!"
It should be clear from the tone of the message that Garlinghouse did not make this comment, however this didn't stop several publications from subsequently covering the story.
The fictitious nature of this news is further unravelled when considering the negative relationship that the Ripple and R3 have had in the past - including a lawsuit of their own. Additionally, upon looking up the author on Coil - you will find that their profile reads "Calm down, folks. It's called s-a-t-i-r-e.".
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Logan Paul and CryptoZoo sued in class action lawsuit
23 minutes ago | Cointelegraph
Dogecoin ($DOGE) Whale Activity Surges Ahead of Expected ‘Rage Pump´
27 minutes ago | CryptoGlobe
Silvergate faces DOJ investigation over FTX and Alameda dealings: Report
27 minutes ago | Cointelegraph
DOJ probes Silvergate over FTX, Alameda ties
28 minutes ago | CryptoSlate
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
FTXUS
Introduction to the FTXUS Trading Platform FTXUS is a type of cryptocurrency derivatives exchange...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
Ripple and CEO Brad Garlinghouse Sued By Obscure Puerto Rican Organisation
As broken by CoinDesk, Ripple and its CEO Brad Garlinghouse are being currently being sued by a...
Free & Fast BTC Mining
The more Bitcoin becomes popular, the more miners it attracts. Mining the coin comes with...
The legalization of cryptocurrencies in Russia.
The first cryptocurrency ever invented was Bitcoin in 2009. A cryptocurrency is an online form...
Bitcoin, Ethereum and Litecoin Price Analysis
BTC/USD Daily Chart Technical...
Global Regulatory Framework for Digital Currency
The past few years have seen cryptocurrencies become integral to the economy. A decade ago,...
Are we going towards a definitive ban on cryptocurrency trading in India?
Following the decision of the Reserve Bank of India (RBI) to ban cryptographic banking services,...
Is Algorand a good investment?
Algorand is one of the newly listed altcoins that shows a lot of potential in the crypto market....
What are the top 10 Altcoins?
Contrary to popular belief, bitcoin is not the only cryptocurrency. New cryptos have been...
VeChain and Mastercard Back Australia-China Supply Chain
VeChain and Mastercard show support for the Asia Pacific Provenance project. The council has...
Beechat: Instant Messaging For Cryptocurrency
For those who think that cryptocurrency has reached its peak, it might be time to think again....
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
COMMENTS (0)