This Week in Startups E1156: Emergency Pod! Ripple sued by SEC over XRP cryptocurrency, breaking down the SEC Complaint
Dec 23, 2020
The podcast dives into Ripple's intense legal battle with the SEC, shedding light on accusations of unregistered securities sales and investor harm. The hosts analyze Ripple's leadership choices, revealing a pattern of questionable practices that contrasts sharply with Bitcoin's regulatory compliance. They discuss the broader implications for the cryptocurrency landscape, emphasizing the urgent need for regulation to protect investors. Expect insights into how Ripple's actions could influence the future of digital currencies.
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XRP Giveaway
- Ripple executives distributed XRP to various promoters, including Ashton Kutcher for a donation to Ellen DeGeneres's show.
- This act raised concerns about the token's legitimacy and potential market manipulation.
Ponzi Scheme Allegations
- Ripple's strategy involved selling XRP tokens first and then attempting to create a use case for them.
- This approach, combined with undisclosed funding and insider sales, raised suspicions of a Ponzi scheme.
Sell XRP
- If you own XRP, sell it immediately.
- The token's value is expected to plummet to zero due to the SEC lawsuit.