Ripple Labs filed a lawsuit against Youtube LLC in the Northern District of California on Tuesday April 21. The case seeks damages for Youtube’s failure to stop XRP (XRP) scammers and impersonators. The plaintiffs, named as Ripple Labs and its CEO Brad Garlinghouse, are taking action against Youtube to “prompt an industry wide-behavior change and set the expectation of accountability,” according to an official company blog post. Ripple and Garlinghouse say the scam - often referred to as “The XRP Giveaway” — has already defrauded victims of “millions of XRP valued at hundreds of thousands of dollars”. The lawsuit lodges …

Bitcoin and the crypto universe are going through one of the toughest periods as the world battles the coronavirus pandemic. The central banks and governments are trying to support the economy by announcing several easing measures. While this has improved sentiment in the short-term, it could reduce the value of fiat currencies in the long-term. In a recent interview, Bridgewater Associates co-chairman and co-CIO Ray Dalio said that he does “not think that cash is a safe investment." Barring the panic selling on March 12, Bitcoin has held up quite well in 2020. This shows that long-term investors are unruffled …

A survey published on March 31 revealed that senior trading executives believe that large companies in the business would be interested in taking advantage of the recent crypto plunge, particularly Bitcoin (BTC). According to the Adoption of Digital Asset Trading report published by Acuiti management intelligence platform, about 100 venues capable of trading cryptocurrencies have launched for institutional clients. The survey shows greater adoption of digital assets among sell-side service providers (26%) than traditional trading firms (17%). However, it clarified that the adoption rates are limited to the CME or Bakkt. Bitcoin and Ethereum derivatives are of major interest All …

Nik Bougalis, a cryptographer, software engineer and lead of the C++ team at Ripple, has published a proposed method for enhancing the privacy of transactions on the XRP ledger. In his Github post on March 30, Bougalis focused on the destination tags that are assigned to transactions made between wallets provided by exchanges or third-party providers — also known as hosted wallets. Bougalis argued that these destination tags present a potential privacy risk for users, which could be overcome through his proposed system of “blinded tags.” Blinded Tags Any transaction made between hosted wallets on the XRP ledger involves two …

An amendment to the class-action lawsuit against Ripple, filed March 25, included additional claims of false advertising and unfair competition, “under the alternative theory that XRP is not a security.” The disgruntled investors’ sixth and seventh claims for relief would appear to be a direct hedge in the event that the judge rules against the original suit suggesting that XRP was illegally sold as an unregistered security. Hedging their bets The filing included two additional claims for relief, in relation to alleged false advertising and unfair competition, both in violation of the California Business and Professions Code. These additional claims …

Fake Google Chrome extensions for crypto hardware wallet manufacturer and custody provider, Ledger, continue to claim victims. On March 28, a post was published to Reddit by a user seeking to warn others that they had just lost 14,908 Ripple (XRP) (roughly $2,577) to a fake Ledger Wallet extension on the Google Chrome store. According to the poster, ‘leannekera’, the lost funds comprised a nest egg that she and her husband had been growing since 2017. The wallet that her XRP was sent to quickly forwarded her funds to a second wallet that currently holds nearly 15 million in XRP. …

The coronavirus pandemic has only worsened this week and has engulfed almost the whole world. Several countries in Europe and the US have been the worst affected outside of China where the virus started. While the world attempts to tackle the spread of the virus by lockdowns, it is having a huge negative impact on the economy. In order to support the economy, the US announced a stimulus package of $2.2 trillion, which is the largest in history. Meanwhile, the Fed’s balance sheet continues to swell and has crossed $5 trillion in assets. While these efforts are a great morale …

Despite YouTube’s many aggressive actions against cryptocurrency-related content, the world’s most popular video-hosting website is apparently having trouble discovering a major scam account involving crypto. On March 23, the crypto community spotted a bogus YouTube account impersonating Brad Garlinghouse, CEO of major blockchain company Ripple, in order to promote a fake airdrop scam. Video containing fake XRP airdrop description was uploaded on YouTube on March 19 The apparent scam account has around 277,000 subscribers and contains only one video, which promotes a fake giveaway in the third-biggest cryptocurrency, XRP. Uploaded on YouTube on March 19, the video description promotes a …

Cryptographer and leading C++ software engineer at Ripple Nik Bougalis offers advice on remote work management to firms amid the coronavirus pandemic. In a March 16 tweet, Bougalis offered his help to company managers looking to have their teams work remotely. His proposal comes as the ongoing epidemic resulted in a global push for remote work in an attempt to decrease the opportunities that the disease has to spread further. Remote work encouraged amid the pandemic The Atlantic wrote on March 13 that people have anticipated the rise in remote work since the personal computer was invented. Still, the outlet …

This week saw huge selling in almost every asset class as panic gripped traders on the ever-spreading coronavirus cases. Cryptocurrencies were also not spared as they came under huge selling pressure on March 12 and 13, which wiped off about $92.5 billion in total market capitalization. Now, the bulls are attempting to stage a recovery. The fall of the past few days has shaken the belief that Bitcoin is a safe haven similar to gold and is a preferred place to hide during selling in equity markets. However, co-founder and partner at Morgan Creek Digital Anthony Pompliano said that the …

Data scientist Geoff Golberg has sued Twitter for banning his account after he used insulting language toward a bot. Golberg, the co-founder of blockchain analytics company Elementus and an academic at the University of Colorado, was banned from Twitter on July 29, 2019, for engaging in “abusive behavior.” In the lawsuit, Golberg emphasizes that the very existence of the inauthentic account violated Twitter’s terms of service. He states he was banned for using the words “idiot” and “moron” specifically. The case was prepared by crypto legal veterans Stephen Palley and Preston Byrne of Anderson Kill. The plaintiff is seeking damages …

Digital payment platform Uphold has announced a new debit card, allowing users to pay with converted crypto, commodities and cash. Uphold’s new multi-asset debit card allows United States-based participants to spend assets held in their Uphold accounts at any Mastercard compatible location, a representative from Uphold told Cointelegraph in an interview. “Anywhere globally where Mastercard is accepted, they will be able to use this debit card,” she said. United States-based customers can now join a waitlist to get the card, which touts compatibility for 24 crypto assets, 27 fiat currencies, and four metals including Bitcoin (BTC), Basic Attention Token (BAT), …