Coin Edition -
- Crypto influencer CryptoWendyO weighed in on allegations leveled against Ripple regarding the defunct exchange Mt. Gox.
- Truth Labs drew a line of connection between Mt. Gox and Ripple Labs, both companies founded by Jed McCaleb.
- The allegations claim Bitcoin rugged from Mt. Gox has been laundered in several projects, including Shiba Inu.
In a recent video on YouTube, crypto influencer CryptoWendyO weighed in on allegations surrounding blockchain payments company Ripple Labs, the defunct Bitcoin exchange platform Mt. Gox, and popular meme coin network Shiba Inu.
Indeed, the revelations made by crypto sleuth TruthLabs in a post on X tie an intricate connection between Ripple, Mt. Gox, and Shiba Inu. Most profoundly, the accusations suggest the Bitcoins rugged from the crypto exchange have been laundered through Ripple and Shiba Inu, alongside several other projects.
In the center of the allegations, TruthLabs points at Mt. Gox founder Jed McCaleb, who later went on to co-found Ripple Labs. While mentioning Japan as a strategic location in the mix, Truth Labs alleged that Ripple’s pronounced presence in Japan, which is the same place as Mt. Gox, strengthens the claims.
Furthermore, the allegations claim the 850,000 BTC (worth around $35 billion now) stolen from the crypto exchanges have been laundered into several projects. According to TruthLabs, some of those funds ended up on Ethereum.
While confirming the Mt. Gox collapse, CryptoWendyO dismissed the truth of the web of allegations. However, she noted that the lack of transparency in the crypto ecosystem continues to be a prevailing issue.
Elsewhere, the crypto influencer CryptoWendyO supported claims that the U.S. Securities and Exchange Commission has turned a blind eye to US-listed Chinese firms while going after American companies. Referencing a tweet from crypto lawyer John E. Deaton, CryptoWendyO supported Deaton’s view while stating that most US politicians are not “pro-crypto.”
Meanwhile, the cryptocurrency token XRP associated with Ripple Labs has ticked upwards in the last 24 hours, according to data from CoinMarketCap. The token is currently up 4.05% in that period, and the current price stands at $0.6298.
The post Ripple, Shiba Inu Roped in Mt. Gox Bitcoin Laundering Allegations appeared first on Coin Edition.