Ripple Faces Another Lawsuit Over its XRP Asset

Ripple has always been a company that attracts a lot of attention in the cryptocurrency world. Unfortunately, that also means that the company has to deal with lawsuits every now and then.

Speaking of lawsuits, a new one has been filed by Bitcoin Manipulation Abatement LLC. 

Another Ripple Lawsuit Pops up

According to that group, Ripple and CEO Brad Garlinghouse have violated security laws while marketing XRP.

The lawsuit is filed in a US federal district court.

It claims how investors were misled and lied to as XRP was sold as an unregistered security. 

Interestingly enough, this is not the first time that someone claims Ripple’s native asset violated security laws.

Nearly all previous lawsuits have either been thrown out or withdrawn, for the time being.

Related Post

Bitcoin Manipulation Abatement LLC also filed a lawsuit against crypto derivatives trading platform FTX in November 2019.

As many people had expected, this lawsuit was withdrawn a month later, for obvious reasons.

It is not unlikely to assume that this Ripple lawsuit will face a similar fate over the coming weeks.

For the foreseeable future, this company will remain under  a lot of scrutiny.

Many people simply dislike the company and its asset.

Proving anyone violated securities laws is a different matter altogether.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

Crypto Veteran Investor Explains Bollinger Bands and How To Spot Gems Like Cardano and Bitcoin Spark

In the world of cryptocurrency investments, having the right tools and strategies at your disposal…

3 hours ago

October Historically Is A Good Month For Cryptocurrency Market, Here’s Why You Should Buy In Now

October has historically been a good month for Bitcoin and the cryptocurrency market. In the…

6 hours ago

Why THORChain, Tradecurve Markets, The Graph Are Leading the Future of DeFi

The BNB Smart Chain recently launched on top of THORChain (RUNE). Moreover, The Graph (GRT)…

8 hours ago

Chainlink (LINK) vs. Solana (SOL): Everlodge (ELDG) Emerges as the Ultimate High-Reward Alternative

Chainlink (LINK) and Solana (SOL) are two of the most popular blockchain projects, but their…

8 hours ago

A Shift in Power? Pomerdoge (POMD), Toncoin (TON), and Maker (MKR) Claim Top Gainer Status

In a surprising shift of power in the cryptocurrency market, Pomerdoge (POMD), Toncoin (TON), and…

8 hours ago

A Look At Current Social Metrics As $PEPE Leads The Way In The Top 10 Trending Searches On LunarCrush

Social media is a powerful tool for investors of all kinds, but it is especially…

22 hours ago