
Ripple Labs Faces Third Securities Fraud Suit Over Its XRP Cryptocurrency - JumpCrisscross
http://marketcoinnews.com/2018/07/ripple-labs-faces-third-securities-fraud-suit-over-its-xrp-cryptocurrency/
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parliament32
Ripple was pretty much doomed to fail from the start. It tries to be a
cryptocurrency, but goes completely against the spirit of crypto: 100% of it
is pre-mined, and the founders still hold ~60% of it. What the article is
arguing is that because of this pre-mining, XRP isn't a commodity, it's a
security... and I'm inclined to agree.

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shivaas
full article without paywall: [http://marketcoinnews.com/2018/07/ripple-labs-
faces-third-se...](http://marketcoinnews.com/2018/07/ripple-labs-faces-third-
securities-fraud-suit-over-its-xrp-cryptocurrency/)

~~~
dang
Ok, we've switched to that from
[https://www.law.com/therecorder/2018/07/03/ripple-labs-
faces...](https://www.law.com/therecorder/2018/07/03/ripple-labs-faces-third-
securities-fraud-suit-over-its-xrp-
cryptocurrency/?kw=Ripple%20Labs%20Faces%20Third%20Securities%20Fraud%20Suit%20Over%20Its%20XRP%20Cryptocurrency&et=editorial&bu=The%20Recorder&cn=20180703&src=EMC-
Email&pt=Breaking%20News&slreturn=20180603190409). Thanks!

