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Ripple's XRP has not gone away from controversy recentlyAs the company is currently facing a series of investor complaints, it is accusing it of selling non-registered securities.
Now, Tone Vays, Bitcoin supporter and cryptocurrency analyst, has weighed in on the lawsuit, calling Ripple's "XRP" a "scam" and warning the US Securities and Exchange Commission (SEC) to drop " Thor's Hammer on the company.
Ripple, who theoretically controls the token known as XRP, has struggled to stand out from XRP in recent years, despite his best efforts.
LightRocket via Getty Images
"The SEC brings Thor's Hammer," Vays said Twitter. "Come to my house XRP army … your scam piece should never have existed."
Vays also promised to discuss the ongoing prosecution of the next episode of his podcast, Bitcoin Law Review.
Earlier this month, a new amended claim against Ripple was filed with the SEC, using the commission's own words to suggest to Ripple to illegally sell non-registered securities and likely anticipating a confrontation between the company and investors discontented.
Ripple must now respond by mid-September.
"This filing will be the first time in the long and long history of this litigation that Ripple will respond in a concrete way to the accusations around XRP," said Jake Chervinsky, general counsel of the encrypted finance company Compound Finance, Coindesk, an information site about bitcoins and crypto-currencies.
Ripple's XRP software is currently the third largest cryptocurrency behind Bitcoin and Ethereum, with a market capitalization of $ 11.4 billion. Ripple controls about 60% of XRP tokens.
The XRP price is currently trading at its lowest point in the year, down about 25% in 2019.
The price of Ripple's XRP has dropped over the last year, despite the company's promise that it is about to sign contracts with some of the world's largest banks to use its technology.
Coindesk
Ripple has been fighting this lawsuit since last May, when investor Ryan Coffey initiated the first of several lawsuits against Ripple, its subsidiary XRP II, and its general manager, Brad Garlinghouse.
Coffey was then joined by other Ripple investors, Vladi Zakinov, Avner Greenwald and David Oconer, and Bradley Sostack was named lead plaintiff.
At the same time, Ripple announced this week that its investment group, Xpring, had granted a billion XRP grant (worth about $ 265 million in current prices) to the start-up browser-based payment processing, Coil to help create a community of "creators, consumers and strategic partners".
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Ripple's XRP has not been spared controversy lately, as the company is currently struggling with a series of disgruntled criticism as investors accuse it of selling non-registered securities.
Now, Tone Vays, Bitcoin supporter and cryptocurrency analyst, has weighed in on the lawsuit, calling Ripple's "XRP" a "scam" and warning the US Securities and Exchange Commission (SEC) to drop " Thor's Hammer on the company.
Ripple, who theoretically controls the token known as XRP, has struggled to stand out from XRP in recent years, despite his best efforts.
LightRocket via Getty Images
"The SEC brings Thor's Hammer," Vays said Twitter. "Come to my house XRP army … your scam piece should never have existed."
Vays also promised to discuss the ongoing prosecution of the next episode of his podcast, Bitcoin Law Review.
Earlier this month, a new amended claim against Ripple was filed with the SEC, using the commission's own words to suggest to Ripple to illegally sell non-registered securities and likely anticipating a confrontation between the company and investors discontented.
Ripple must now respond by mid-September.
"This filing will be the first time in the long history of this litigation that Ripple will respond in a concrete manner to the charges around XRP," said Jake Chervinsky, general counsel of the encrypted finance company Compound Finance, told Coindesk, an information on bitcoin and cryptocurrency. website.
Ripple's XRP software is currently the third largest cryptocurrency behind Bitcoin and Ethereum, with a market capitalization of $ 11.4 billion. Ripple controls about 60% of XRP tokens.
The price of XRP is currently trading at the lows of the year, down about 25% in 2019.
The price of Ripple's XRP has dropped over the last year, despite the company's promise that it is about to sign contracts with some of the world's largest banks to use its technology.
Coindesk
Ripple has been fighting this lawsuit since last May, when investor Ryan Coffey initiated the first of several lawsuits against Ripple, its subsidiary XRP II, and its general manager, Brad Garlinghouse.
Coffey was then joined by other Ripple investors, Vladi Zakinov, Avner Greenwald and David Oconer, and Bradley Sostack was named lead plaintiff.
Meanwhile, Ripple announced this week that its investment arm, Xpring, had granted a one billion XRP grant (worth about $ 265 million at current prices) to the startup of browser-based payments, Coil, to help it create a community of "creators, consumers and strategic partners".