Ripple Trade Japan Operator arrested; XRP falls

Yuki Takenaka, operator of Ripple Trade Japan, arrested in Japan; XRP lost about 6% in 24h
19 October 2017   2221

Tokyo police arrested the head of the Ripple Trade Japan platform, Yuki Takenaka, on suspicion of cheating the investor as part of a large-scale investigation of fraudulent schemes. This is reported by Cryptocoinsnews with reference to local media.

Arrested Ripple Trade Japan Operator
Arrested Ripple Trade Japan Operator

The Ripple Trade Japan platform was founded in 2014. In exchange for investments, clients received promissory notes that could be exchanged among themselves or converted into both XRP tokens and fiduciary funds.

Takenaka is suspected of stealing funds from one of the investors for an amount of 1.4 million yen. It is assumed that he persuaded the victim to send money to the bank account of the trading platform, although at that time the company was already bankrupt.

Also, the anti-cyber crime unit of the Tokyo Police is investigating the theft of client funds of Ripple Trade Japan in the amount of 17 million yen and suspects precisely Takenaka in this crime.

In addition, law enforcement officials also believe that Takenaka could have appropriated 120 million yen in the form of debt receipts between November 2014 and February 2015. It is assumed that he exchanged some of these receipts for the receipts of other trading floors, and the rest converted to fiat, using the money so obtained for personal enrichment.

According to the police, Takenaka himself acknowledges most of the charges.

Ripple Price

It is known that cryptocurrency market is very volatile and it reacts immediately to any news. So let's check Ripple price on the backgrown of this event.

Ripple Price Chart
Ripple Price Chart

The arrest may not be the only reason, but  Ripple lost about 6% of it's price in 24h. At the moment or press, XRP price is $0.210255 with $8,101,448,716 marketcap. 

Ripple to Lay Off Chief Market Strategist

Cory Johnson left the organization due "to changes in market conditions"
12 February 2019   174

The CMS of Californian fintech startup Ripple Cory Johnson left the organization, The Block reported.

Cory’s last year at Ripple was a success in representing the company to investors, press and regulators. Cory helped Ripple with strategy internally and overall industry education. But due to changes in market conditions, we’ve chosen to eliminate the role of Chief Market Strategist.
 

Ripple's Spokesperson

Note that Johnson also removed the mention of his position from his Twitter account.

In the past, an employee of Bloomberg TV, Johnson developed strategies to promote Ripple products among major players on Wall Street, as well as an educational area.