Ripple’s chief technology officer has responded to a conspiracy theory fabricated by Artificial Intelligence (AI) tool ChatGPT, which alleges the XRP Ledger (XRPL) is somehow being secretly controlled by Ripple. According to a Dec. 3 Twitter thread by user Stefan Huber, when asked a series of questions regarding the decentralization of Ripple’s XRP Ledger, the ChatGPT bot suggested that while people could participate in the governance of the blockchain, Ripple has the “ultimate control” of XRPL. Asked how this is possible without the consensus of participants and its publicly-available code, the AI alleged that Ripple may have “abilities that are …

The most talked about crypto lawsuit involving the United States Securities and Exchange Commission (SEC) and Ripple is approaching its conclusion after a two-year-long battle. On Dec. 2 the SEC and Ripple both filed redacted replies to each other’s opposition to motions for summary judgment. Ripple argued in its motion document that the SEC has failed to prove that its offering of XRP between 2013 and 2020 was an offer or sale of an “investment contract” and therefore a security under federal security laws. Ripple concluded the document by stating that “the court should grant Defendant’s Motion and should deny …

The Former CEO of FTX, Sam Bankman-Fried, known also as SBF, has seemingly begun to embark on an apology tour to redeem his image a month after the sudden implosion of FTX, which revealed the exchange’s improper use of customer and investor funds. OnNov 30, Bankman-Fried made his first live public appearance since the collapse of FTX — answering a number of questions during the DealBook Summit in New York. In the interview, Bankman-Fried claimed to have “unknowingly commingled funds” between Alameda and customer funds at FTX. He shared: “I unknowingly commingled funds. [...] I was frankly surprised by how …

While fears surround the crypto market because of how big projects and firms file bankruptcy one after the other, community members continue to remind the world of the best use cases for cryptocurrency. On Twitter, the Cointelegraph social team asked the community to share their perspectives on what the best crypto use case is. From payments and self-custody to transparency and investment, community members gave a wide range of responses. What is the best use case of crypto? — Cointelegraph (@Cointelegraph) November 29, 2022 One community member highlighted the use of stablecoins like Tether (USDT) as payment methods while pointing …

Everstake, a blockchain firm that partnered with the Ukrainian government to launch a donation website amid the country’s war with Russia, has pushed back against online rumors and conspiracy theories that the platform was used for politically motivated money laundering. Ukrainian government officials partnered with Everstake, Kuna and the now infamous crypto exchange FTX to launch Aid for Ukraine in March following the Russian military’s invasion. According to the platform, crypto users and Ukraine supporters sent roughly $60 million in crypto and fiat aimed at supporting Ukraine’s armed forces and other humanitarian causes. However, with FTX’s liquidity issues and bankruptcy, …

Blockchain-based file-sharing and payment network LBRY has alleged that tech giant Apple forced it to filter out certain search terms during the COVID-19 crisis in an apparent rejection of free speech. In a Nov. 28 post on Twitter, LBRY alleges it was asked to censor anything related to COVID-19, especially vaccines and the human origins of the virus, or face having its apps removed from the Apple store. "We had to build a list of over 20 terms to not show results for, only on Apple devices. If we did not filter the terms, our apps would not be allowed …

Crypto executives and politicians are becoming louder in their calls for crypto regulation as the aftermath of the FTX collapse continues to reverberate through the industry. In just the last 24 hours, the European Central Bank (ECB) president Christine Lagarde called regulation and supervision of crypto an “absolute necessity” for the European Union, while United States House Financial Services Committee Chair Maxine Waters announced that lawmakers will explore the collapse of FTX in a Dec. 13 inquiry. On Nov. 28, United States Senator and crypto supporter Cynthia Lummis described the collapse of FTX as a wake-up call for congress, according …

Digital payments company Block Inc. is pursuing legal action against Roger Ver’s Bitcoin.com over alleged trademark infringement involving its newly launched Verse token, which concluded a $33.6 million private sale in May 2022. In a letter addressed to Bitcoin.com CEO Dennis Jarvis and the company’s legal counsel Joseph Collement, lawyers representing Block claimed that Bitcoin.com’s use of “Verse” constituted trademark infringement under German trademark law. The letter, dated Aug. 10, 2022, was a follow-up to a July 4, 2022 notice in which Block’s legal counsel, Bird & Bird, first laid out its trademark infringement case in Germany. A person familiar …

Cryptocurrency exchange Binance is moving large amounts of cryptocurrency as part of its proof-of-reserve (PoR) audits, according to the CEO. Binance sent 127,351 Bitcoin (BTC), or more than $2 billion, to an unknown wallet on Nov. 28, Whale Alert reported on Monday. According to on-chain data, the transaction occurred at 10:00 am UTC, costing Binance just a 0.000026 BTC ($0.42) fee. The huge Bitcoin transaction has immediately triggered some FUD in the community, with many noting that Binance has moved an amount that is an entire fortune in one single transaction. Binance CEO Changpeng Zhao subsequently took to Twitter to …

Three Arrows Capital co-founder Su Zhu looks like he may be attempting a comeback amid the fallout over FTX and Sam Bankman-Fried — seen by some as the crypto industry’s newest supervillain. After months of radio silence, Su Zhu remerged on Twitter on Nov. 9, the day after FTX revealed it was suffering from a “liquidity crunch.” As the FTX saga has unfolded, Zhu has continued to post on Twitter, offering sage advice through poetic metaphors, while tweeting veiled criticism of Sam Bankman-Fried and his handling of FTX. That being a better swimmer led to her death felt bizarre yet …

Billionaire entrepreneur Elon Musk has confirmed that he intends on integrating payments into what he describes as Twitter 2.0 — “The Everything App” — fuelling a short-lived 19.4% price surge for meme-inspired cryptocurrency Dogecoin (DOGE). The new Twitter CEO revealed his plans in a Nov. 27 tweet to his 119.2 million followers, in which he shared several slides from a recent “Twitter company talk.” Slides from my Twitter company talk pic.twitter.com/8LLXrwylta — Elon Musk (@elonmusk) November 27, 2022 While Musk made no mention of DOGE in the tweet or in the attached slides, this didn’t appear to stop some investors …

An inside joke about the “insolvency” of Wrapped Ethereum (wETH) over the weekend has forced influencers to explain it was just a “shitpost” after members of the community took it as real. The wETH insolvency FUD (fear, uncertainty and doubt) seemingly began to make the rounds on Nov. 26, with false rumors alleging that wETH isn’t backed 1:1 by Ether (ETH) and is insolvent. Blockchain developer and contributor to the ERC-721A token standard “cygaar” was one of the first to spread the joke, before confirming in a subsequent post that it was in fact a “shitpost” to see who was …