World's 3rd largest cryptocurrency crashes after lawsuit

World's 3rd largest cryptocurrency crashes after lawsuit
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IANS
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Published on
​ Fri, Dec 25 2020 9:42 IST
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Holding, selling or dealing in cryptocurrencies such as Bitcoin could soon land you in jail for 10 years. (Xinhua/Gil Cohen Magen/IANS). Image Source: IANS News
San Francisco, Dec 25 : The value of XRP, worlds third largest cryptocurrency after Bitcoin and Ethereum, crashed more than 40 per cent after the US Securities and Exchange Commission (SEC) sued both the founder and current CEO of tech company Ripple for raising more than $1.3 billion through an "unregistered securities offering" after selling their cryptocurrency XRP.
According to CoinMarketCap, the XRP's declined more than 42 per cent in the past 24 hours and was down more than 63 per cent from its 30-day high of $0.76.

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