BlackRock 'iShares XRP Trust' Fraudulent Filing Leads to Delaware Justice Department Probe
Summary:
A deceptive filing that wrongly suggested asset management firm BlackRock had registered an "iShares XRP Trust" with Delaware's Division of Corporations is being referred to the Delaware Department of Justice for investigation. The fallacious filing briefly lead to a 12% spike in the price of XRP, which later lost its gains as the truth emerged. Still, an evolving story, further updates will follow as more information becomes available.
The fraudulent document submitted to the Division of Corporations in the State of Delaware on November 13 will now be scrutinized by the Delaware Department of Justice. On November 14, a representative from the Delaware Department of State confirmed to Cointelegraph that the deceptive document, which suggested BlackRock, an asset management firm, had registered an "iShares XRP Trust", was going to be investigated by state officials. The dubious registration initially propelled the price of XRP to rise by approximately 12%, but these gains dwindled when the deceit came to light. This is an ongoing story with more details to be updated as and when they emerge.
Published At
11/14/2023 8:39:34 PM
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