ADVERTISEMENT
Advertise with BNC

XRP Surges Then Dumps After Fake ETF Application Goes Viral

14 Nov 2023, 00:00

A clever scammer moved the crypto markets with a fake ISHARES XRP Trust notice on the Delaware website

Crypto Twitter embarrassed itself today, after briefly falling for a fake ISHARES XRP Trust notice on the Delaware website. The notice implied that BlackRock had filed for the paperwork needed for an XRP spot ETF. The same procedure has been followed with previous filings for the proposed ISHARES Bitcoin and Ethereum ETFs.

F-16ud1WMAAk3lX

The Fake Notice

It is not known how the fake notice ended up on an official website, but once it was there it was quickly shared by credible accounts such as Bloomberg ETF analysts James Seyffart and Eric Balchunas on Twitter, leading to a quick move in the price of XRP.

However, to their credit, Eric and James were able to quickly contact BlackRock and confirm that it was fake, leading the XRP token to dump again.

Screenshot 2023-11-14 at 10.39.49 AM

XRP soared and then dumped on the fake news

The SEC is unlikely to be amused by the day’s events. We’ll update this story if more details emerge.


ADVERTISE WITH BRAVE NEW COIN

BNC AdvertisingPlanning your 2024 crypto-media spend? Brave New Coin’s combined website, podcast, newsletters and YouTube channel deliver over 500,000 brand impressions a month to engaged crypto fans worldwide.
Don’t miss out – Find out more today


ADVERTISEMENT
Advertise with BNC
BNC Newsletters: A weekly digest of the most important news and analysis.
ADVERTISEMENT
Advertise with BNC
Submit an event on bravenewcoin.com
Latest Insights More
ADVERTISEMENT
Advertise with BNC