Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.

Delaware DOJ Launches Probe into Fraudulent XRP Filing, Adding to Crypto Saga

  • Rumours of an XRP ETF filing in Delaware led to confusion about BlackRock’s involvement, followed by scepticism and ongoing discussions about the legitimacy and motives behind the filing.
  • Fred Rispoli weighed in on the iShares XRP Trust controversy, observing similarities between its filing and the Ethereum Trust filing and noting discrepancies in registered agents and SEC registrations.
  • CNBC covered the temporary rise in XRP’s price, emphasising BlackRock’s denial of involvement, while also noting the potential for profit from such misinformation.

It all started with rumours of a filing for an XRP ETF, supposedly filed in the US state of Delaware, and ended with a delayed denial, leading to further speculation about what is actually happening

Here is The Story So Far

BlackRock, a leading global investment manager with over US $8 trillion (AU$ 12.3 trillion) in assets, has shown interest in the crypto market, filing for a Bitcoin and Ethereum ETF. The recent but brief misconception that BlackRock planned to add an XRP ETF, was apparently caused by fraudulent paperwork mimicking their filing process. This sparked scepticism among observers, especially since Ripple is in an ongoing legal dispute with the United States Securities and Exchange Commission (SEC).

However, at the time of writing, the discussion continues around why the filing is still up on the department’s website. XRP community commentator WrathofKahneman said on X (formerly Twitter) that the involvement of the Delaware Department of Justice should bring some clarity.

Others Chime in on What’s Going on

Fred Rispoli commented on the iShares XRP Trust story, noting that the filing is indeed on the Delaware Corporation Commission website, which he often uses for legal cases. Rispoli observed that the XRP Trust filing closely matches the Ethereum Trust filing, except for the filing date and trust name.

He pointed out a difference in registered agents between the Bitcoin Trust and the Ethereum and XRP Trusts. On the SEC Edgar site, an iShares Bitcoin exists, but not for Ethereum and XRP, though the Bitcoin filing in Delaware preceded its SEC registration.

CNBC discussed the brief spike in the price of XRP, which rose nearly 13% following the fraudulent filing. They highlighted that BlackRock did not submit this filing, as confirmed by a BlackRock spokesperson, and expressed uncertainty about how the false information appeared on the Delaware site.

The anchors also touched on the potential for monetary gains from such misinformation, saying “somebody took profits.”

While the filing appears to be fake at this time, the mystery surrounding it raises more questions than it answers. Meanwhile, XRP price has dropped almost 8% in the past week, in line with the overall market correction, as data from CoinMarketCap shows.

Read the full article here

Leave a Reply

Your email address will not be published. Required fields are marked *