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Creator of third-largest cryptocurrency, XRP, sued over alleged $1.4 billion unregistered offering.
 
The US Securities and Exchange Commission (SEC) has filed a civil lawsuit against cryptocurrency firm Ripple Labs Inc. and two of its executives, alleging they illegally raised nearly $1.4 billion in an unregistered offering of its digital asset XRP. Ripple’s XRP is the third-largest cryptocurrency by market cap after Bitcoin and Ethereum.
According to the SEC’s complaint, Ripple co-founder and former CEO Christian Larsen, and current CEO Bradley Garlinghouse raised capital to finance the company’s business through the sale of XRP digital assets in an unregistered securities offering to investors. ....

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