“Ripple, the so-called decentralized payment network, has frozen funds worth more than US$1 million that belong to the company’s former co-founder Jed McCaleb. Since their initial launch, Ripple has represented themselves to the public as a payment network of ‘decentralized’ gateways that convert different assets or types of payments—such as bitcoin or Paypal—into IOUs tradeable in the Ripple network. On August 1, 2014, Ripple introduced a feature called ‘Balance Freeze’ which allowed the network’s gateways to freeze and prevent funds from being traded, an action that they claimed was necessary to protect the gateways’ wallets from being compromised.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Chicago Is Trying to Pay Down Its Debt by Impounding Innocent People’s Cars
Jesse Trentadue: Death, Lies, and Revenge in Federal Custody
Ex-cops get new trial in post-Katrina bridge shootings
Tax Havens Are Crucial if We Want to Restrain Predatory Government
'Suspiciously simple strategy' of “best performing hedge fund in history”
Ohio Court Upholds Police Entry Into Home Over Failure To Signal Turn
Peter Schiff: Symptoms Don't Lie
Jim Rogers: Financial Calamity - It's Coming, Be Worried, Be Careful
Yes, Soros Sold Off Gold (But Then Bought Gold Miners)
Israel's Killer Robots
Houston Cops Accused Of Deadly Force On Unarmed, Disabled Man
New startup brings Bitcoin purchases to major retailers
Subsidized Food Programs: 100 Million Americans
Evolution of the IMF Is Directed History
Armed Bounty Hunters Storm Fancy Miami Beach Gym