So the news were out yesterday:
"Jed McCaleb Dumps 76 Million XRP Over Weekend with 404 Million XRP Still in His Wallet"
Ripple, that cryptocurrency database project with a token in the billions with no utility other than being a neutral unit of account between balances in a series of permissioned data centers, keep fooling the newcomers and bagholders alike with the combination of narrative, cheap token price when paired with regular crypto projects and the only reason we know about its existence, a gigantic marketcap derived from the completely random mintage of One Hundred Billion Tokens.
Even more so, according to some analysts, Jed can still hold a little over 2800 million XRP more in his "Taco Stand" Wallets, which clearly is a reference to the Banana Stand from Arrested Development Series:
How a supposedly serious executive can use memes to work around with several billions of value derived from the trust and savings of the thousands of investors that were fooled in this trap?
If at this point someone is still not clear that
a) The whole Ripple project is a scam and
b) Both Jed McCaleb, Brad Garlinhouse and Chris Larsen are going to end up in:
- Jail
- Long trial with monetary punishment and the end of 5% of all the money stolen to the average Joe
- Keep running the Ponzi a little more and then exiting with a IPO/SPAC/M&A
...Well, I got a Brooklyn Bridge to sell to you.
And of course, this is not financial advice, DYOR etc... But this is going to hurt the whole crypto industry and I'm always extremely vocal about this scammers.
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