While checking the internet this morning I came upon a crypto article that makes me happy ! Ripple is filing a lawsuit against Youtube for failing to prevent the XRP giveaway scams.
There are quite some scam giveaways on Youtube lately with Vitalik Buterin giving away a lot of ETH, Ripple giving XRP, etc. You simply have to sent a little bit of XRP or ETH and you will receive a lot more back as a gift ! What a wonderful Christmas time that is. A lot of people fall for it unfortunately and Youtube does nothing against this. It almost seems they actually like this to put cryptocurrencies in a bad daylight. Youtube is on a crypto purge lately with banning quite some channels (right before the halvening) and they did this around Christmas time last year as well.
Ripple is finally taking action and I hope they will win ! They definitely have cause for filing a lawsuit and they blame Youtube for not taking any action to prevent scammers using their platform to run deceitful activities. Youtube has a policy in place that would ban dangerous and harmful content, yet they keep these scam giveaways online, while banning channels that talk about stock trading and crypto trading (educational videos). Sometimes you start to wonder if they really want to help the average Joe or not.
Ripple tries to solve the cross-border payment system for banks by offering very low fees and very fast transactions. The report they put out states :
“It’s time to end this unacceptable behavior and protect our friends, family members, and consumers everywhere. YouTube and other big technology and social media platforms must be held accountable for not implementing sufficient processes for fighting these scams.” – the report reads.
Brad Garlinghouse, the CEO of Ripple, has seen an increase in using his name for nefarious activities. This has been seen on Twitter and Instagram as well, but apparently they take more action against scams. Youtube however is not doing much against it and he states :
“YouTube generated $15 billion in ad revenue last year, and you’re telling me that they can’t spend more money to police obvious scams that violate their own terms of service? – he noted.
What do you think about Ripple filing a lawsuit against Youtube ? I for one am thrilled, because I see quite some crypto channels being banned, gone back online, getting re-banned, etc. This is unacceptable and when there are big scams around their platform they do nothing ?