Connect with us

Ripple

Ripple and YouTube Settle Lawsuit Filed Over XRP Giveaway Scams

Published

on

Ripple and its CEO Brad Garlinghouse have settled a lawsuit filed against the Google-owned video-sharing platform YouTube over videos on the platform that allowed scammers to impersonate Garlinghouse to promote XRP giveaway scams.

The giveaway scams managed to trick various XRP investors, with the founder of community-driven XRP data aggregator XRPlorer revealing on social media they cost Coinbase users over 940,000 XRP tokens, at press time worth over $440,000 according to CryptoCompare.

Scammers have long been impersonating high-profile members of the cryptocurrency community and not just on YouTube. On Twitter, they even hijacked verified accounts to change their names and promote cryptocurrency giveaway scams.

Advertisement

Ripple and its CEO sued YouTube over their failure to stop these scams in April of last year , claiming their failure caused “ “irreparable harm to their public image, brand, and reputation.” The motion described YouTube’s inaction as “deliberate and inexplicable.”

The complaint pointed out YouTube was not meeting the standards it set out in its own community guidelines to keep scammers and impersonators away. The motion claimed that Ripple informed YouTube of scammers claiming to give away free XRP on “countless occasions,” including from legitimate YouTube channels that had been hacked and re-purposed as scam-platforms.

On social media, Garlinghouse revealed the lawsuit has been settle and would see both Ripple and YouTube work to “prevent, detect and take down these scams.”

Advertisement

The CEO added specific settlement terms are confidential, but added that “it’s clear to all that without accountability and action, trust erodes in this industry, at a crucial time when govts around the world are looking closely at crypto.”

Advertisement

According to Decrypt, in an interview Garlinghouse shared the settlement will see both companies together fund a non-profit organization dedicated to helping victims of cybercrime. Speaking to the news outlet, the CEO said he would be open to calls to reforming Section 230, a law protecting tech giants from being liable for the users’ behavior.

Ripple’s lawsuit against YouTube was initially dismissed by a judge who cited Section 230 and concluded that in “some ways” YouTube was “too a victim of the hijacking.”

News Source

Advertisement

Ripple

Ripple CEO Claims Ether Surpassed XRP Because of SEC

Published

on

Ether took XRP’s second spot because of the SEC, says Ripple CEO Brad Garlinghouse

During his appearance at the DC Fintech Week virtual conference, Ripple CEO Brad Garlinghouse opined that the regulatory clarity that Ether, the second-biggest crypto, has received from the U.S. Securities and Exchange Commission allowed it to surpass XRP:

Within the last few years, XRP was the second most valuable digital asset. As it became given that the SEC had given a hall pass to ETH, ETH has obviously kind of exploded…That clarity has helped.

Garlinghouse adds that market forces are supposed to determine winners and losers instead of regulators.   

In December 2017, XRP became the second-largest crypto but it has since slipped to seventh place.

Ether is now firmly in second place, with its market cap recently surpassing that of banking giant JPMorgan.

Advertisement

Garlinghouse slammed Gary Gensler for refusing to answer whether the rival cryptocurrency is a security, adding that the existing securities laws are outdated:

If laws are so clear, then let’s just say the answer to these questions.

He also praised “Twitter sleuths” who are busy dissecting the SEC’s case against Ripple.

The Ripple boss has reiterated his oft-repeated claim about the lack of clarity in the U.S. He also said that the company had signed zero new customers in the States due to regulatory headwinds, but this didn’t stop the company from expanding worldwide:   

We are growing a lot more outside the United States.     

China’s hostile stance toward crypto also doesn’t make a lot of sense in the long run, according to Garlinghouse.

Advertisement

News Source

Continue Reading

Ripple

Here’s how Ripple is expanding its footprint in Asia Pacific

Published

on

Ripple is partnering with another company in Singapore to expand its services for cross-border payments in the Asia Pacific. The new partnership is aimed at expanding RippleNet’s footprint in the region by offering the fundamental infrastructures for cross-border payments for banks.

Ripple had a plan to acquire a 40% stake in Tranglo company, and the new partnership follows that intention. The first country to receive the results of the new partnership in the Philippines, and new corridors will be launched after that.

Providing the Structure for Cross-Border Payments

There are many opportunities in the Asia Pacific area for companies that are solving payment challenges. Cross-border payments are among the essential needs of banks and citizens in that region because many of the people work abroad and help their companies by sending money from other countries.

Advertisement

Ripple is among the most active blockchain companies that have a considerable focus on this area. The RippleNet solution has helped many big banks launch corridors for cross-border payments, and the new partnership with the Tranglo company is aimed to expand these services.

Tranglo will launch its first live On-Demand Liquidity (ODL) service on RippleNet in the Philippines in six months as the first result of the partnership with Ripple. More corridors will be introduced in the coming months. The Philippines is a very good target region for this partnership because this country is the third-largest remittance-receiving country in Asia.

Tranglo is among the best companies in East Asia, helping cross-border payments for citizens. It has supported existing RippleNet corridors in the Asia Pacific before. Companies like BKK Forex, DeeMoney, and Siam Commercial Bank use Tranglo services. These new connections help the company process more currencies in the region.

Advertisement

Ripple execs believe the Singapore company can help them very well in expanding footprints in the Asia Pacific region. Brooks Entwistle, Managing Director of RippleNet in APAC and MENA, said:

“The strong traction with Tranglo in the past 6 months alone is testament to how we’re executing well on our shared mission to transform the cross-border payments experience in Asia Pacific, a region which is often tricky to navigate. Tranglo’s in-depth regional experience has been extremely instrumental in expanding RippleNet in Asia Pacific, and I’m excited to see us further collaborate to scale our partnership to new heights.”

New partners using the RippleNet solution for payments means more customers for Ripple. It always has been a great goal for the company, and it seems to be working based on numerous partnerships. All of these incidents can help the XRP coin, too, by increasing the demand.

Advertisement

News Source

Continue Reading

Ripple

Ripple Forecast and XRP/USD Analysis October 21, 2021

Published

on

XRP/USD are trading at 1.1307 and continue to move within the growth and bullish channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $53,450,449,348. Moving averages indicate a short-term bearish trend for Ripple. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of the rise in the XRP rate in the market already from current levels. At the moment, we should expect an attempt to develop a small correction of the asset and a test of the support level near the 1.0785 area. Further, an upward rebound and a continuation of the rise of the cryptocurrency to the area above the level of 1.2505.

Ripple Forecast and XRP/USD Analysis October 21, 2021

In favor of raising the XRP/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal in favor of the growth of asset quotes will be a rebound from the lower border of the bullish channel. Cancellation of the option of raising the cryptocurrency will be the fall and closing of quotations below the level of 0.9505. This will indicate a breakdown of the support area and a continued fall in XRP/USD to the area below the level of 0.8505. Confirmation of the growth of the digital currency rate will be the breakdown of the resistance area and the closing of prices above the level of 1.2205, which will indicate a breakdown of the upper border of the downward correction channel.

Ripple Forecast and XRP/USD Analysis October 21, 2021

Ripple Forecast and XRP/USD Analysis October 21, 2021 imply an attempt to test the support level near the 1.0785 area. Where can we expect the cryptocurrency to continue to rise with a potential target at the level of 1.2505. An additional signal in favor of the growth of Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise quotes will be a fall and a breakdown of the 0.9505 area. In this case, we should expect a continuation of the decline in the rise in digital currency with a target below 0.8505.

News Source

Advertisement
Continue Reading