Eric Balchunas, an analyst at Bloomberg, verifies that the BlackRock XRP Trust’s filing is fraudulent. Leading to a 15% pump-and-dump in XRP.
Although a BlackRock XRP Trust filing appeared on the official Delaware website for registering investment trusts, it was not submitted by BlackRock.
The misinformation regarding BlackRock XRP Trust instigated a pump and dump of over 15% in the XRP price within an hour; the current price of XRP is $0.66.
Filing of BlackRock XRP Trust Increased XRP Price
On the Division of Corporations of the Delaware Department of State website, which lists trusts by asset management firms, information regarding a filing titled “iShares XRP Trust” that was registered to BlackRock on Monday is available.
It sparked a meteoric rise in the price of XRP within an hour but plummeted to the same level when it was discovered that BlackRock’s name was being used fraudulently.
Eric Balchunas, an analyst at Bloomberg, stated that the filing is fabricated, per a BlackRock source. Although the filing can be found on the Delaware website, it does not appear to originate from BlackRock.
“It’s bizarre stuff, the real issue tho is who the hell is pretending to be BLK and registering legal names?”
A Delaware Department of State representative declined to comment in response to requests. The website’s origin bearing the erroneous BlackRock name was also not immediately apparent.
As the cryptocurrency community eagerly awaited the US SEC’s approval of a spot Bitcoin ETF, fraudulent information rapidly disseminated. It significantly contributed to the recent Bitcoin price increase beyond $37,000, which began at $25,000 in mid-June.
BlackRock did register for a legitimate Ether-based fund that contributed to the cryptocurrency’s price increase. The identical BlackRock contact name appeared on the authentic Ether and counterfeit XRP documents.
15% XRP Price Pump And Pump
The price of XRP increased by 15% in response to the BlackRock XRP ETF filing news, but it rapidly depreciated after Bloomberg analysts disproved the rumor.
Presently trading at $0.66, the price has changed little over the past twenty-four hours. The 24-hour minimum and maximum values are $0.645 and $0.740, respectively.
Additionally, the trading volume has increased by 250 percent over the past twenty-four hours, indicating a surge in investor interest.
