Wednesday 4 July 2018
Court documents signed last week revealed that Ripple Labs Inc. and its CEO have been served with a third securities fraud lawsuit in as many months. In this latest suit, dated June 27, a private XRP investor alleges that Ripple Labs Inc. and its CEO Bradley Garlinghouse have conflated their token with its proprietary Ripple technology and even illegally profited from price increases the whole time. The nature of the XRP’s centralized and mining-free distribution model, all three lawsuits allege, has allowed for a continuous ICO period, in which Ripple Labs Inc. have been funding themselves by selling close to…
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