Bitconnect Finally Collapses

Comment of the Day, @2xtops:


These were just some of the pieces of advice offered, all sound suggestions but I fear not many retail investors will have taken heed. Instead, as with all over exuberant markets, greed takes over and clouds judgement.


Ripple and Its CEO Sue YouTube over Failure to Stop XRP Giveaway Scammers

Ripple Labs and its CEO Brad Garlinghouse are suing YouTube LLC, as a motion was filed yesterday in a San Francisco court.

Ripple, the largest holder of the digital asset XRP, claims that YouTube’s failure to crack down on XRP giveaway scams on its platform has caused “irreparable harm to their public image, brand, and reputation.” The motion describes this lack of action on YouTube’s part as deliberate and inexplicable.

The crux of the complaint seems to be that YouTube are not meeting the standards which they themselves set out in their community guidelines to keep scammers and impersonators off the internet-airwaves. The motion claims 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.

There is not yet any mention of potential damages to be paid, although Garlinghouse claims that reward from the lawsuit will go to reimburse scam victims.

XRP’s price seems largely unaffected by the move, and is currently trading at about $0.186.

Not much change since the suit was filedXRP chart by TradingView

In other Ripple news, the Ripple-backed and XRP-powered XUMM payment platform app recently launched its beta on Android and iOS.

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