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Author Topic: SEC Sues Prosper Founder Chris Larsen for Violation of Securities Law at Ripple  (Read 195 times)

Xenon481

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The value of the Ripple "cryptocurrency" is down 33% on the news to about $0.32/XRP.

https://www.theverge.com/2020/12/22/22196064/ripple-sec-cryptocurrency-security-currency-xrp

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Ripple, its former CEO and founder Christian Larsen, and its current CEO Bradley Garlinghouse are being sued by the US Securities and Exchange Commission. The SEC says that they raised more than $1.3 billion through an unregistered securities offering.

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According to the complaint, the “illegal securities offering” created an information asymmetry that let Larsen and Garlinghouse sell XRP to investors who only knew what Larsen and Garlinghouse chose to tell them.

Xenon481

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Nominating this thread to go in The Lobby.

pioneer11

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Second
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If you are not quoting a dead person here, you are a moron.

Xenon481

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Ripple down to $0.27 now.

Xenon481

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It's also notable that Chris Larsen has now started two different companies that have been sued by the SEC for violating securities law.

112233

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I think I read somewhere that Larsen had a higher net worth than Zuckerberg at one point
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Xenon481

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Ripple is down to $0.225/XRP on the news that Coinbase is delisting them in mid January due to the SEC actions. That's down 63% in the past month. 52% in the past week.
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