Stellar Enters Legal Dispute With Bitstamp, Ripple and Jed McCaleb
The legal battle over roughly $1m in disputed funds continues between Ripple Labs and founder and ex-employee Jed McCaleb, with a flurry of new court filings over the past month setting the stage for conflict between the two sides. In total, $1,038,172 is currently being held by digital currency exchange Bitstamp, an amount that both Ripple Labs and the Stellar Development Foundation, McCaleb's current employer, are now seeking. Both sides have weighed in on whether the court should grant Bitstamp's request to be discharged from the case after it filed a complaint for interpleader on 1st....
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Bitstamp has initiated legal action over more than $1m in disputed funds related to the sale of nearly 100m XRP last month. Bitstamp, which operates a Ripple gateway and bitcoin exchange, filed a complaint for interpleader on 1st April in the US District Court in the Northern District of California. Jed McCaleb, the founder of both Ripple Labs and Stellar, and two of McCaleb's family members were named in the complaint. The $1,038,172 in disputed funds were used by Ripple Labs to purchase 96,342,361.6 XRP put up for sale through an account allegedly controlled by McCaleb, according to the....
A months-long legal dispute involving distributed ledger technology startup Ripple and its co-founder Jed McCaleb has come to an end. Though the settlement was announced in an 11th February post on the main Ripple forums, the dispute dates back to last spring when digital currency exchange Bitstamp filed suit over dueling claims on nearly 100m XRP – the native token of the distributed Ripple network – an amount worth just over $1m when the suit was filed. At the time, Ripple alleged that McCaleb had violated a 2014 agreement governing the sale of his XRP holdings, numbered at 9 billion....
Stellar, the long-secret digital currency project helmed by industry entrepreneur Jed McCaleb, has officially launched. McCaleb is the original founder of defunct Japanese bitcoin exchange Mt. Gox and a co-founder of digital currency-focused payment network Ripple Labs. The new platform is a decentralized gateway for digital currency to fiat currency transfers, The Wall Street Journal reports. Like Ripple and bitcoin, Stellar will act as a public transaction authenticator and feature its own in-house digital currency called 'stellar'. McCaleb's announcement follows months of rumors about....
Although it has yet to overtake Ripple, Jed McCaleb's Stellar has performed respectably in its first several months. The payment gateway's native currency has consistently remained in the top-twenty on the market cap charts. However, the stellar price has not been living up to its name over the past couple weeks. Also read: Stellar Price Rises Despite Bitcion Price Drop. Stellar Price Reaches Three-Week Low. On October 9, the stellar price fell to 662 satoshis, which marked a three-week low for Ripple co-founder Jed McCaleb's latest altcoin project. As recently as September 29, the stellar....
Apparently, there are some very angry feelings between payment network startups Ripple and Stellar, and the New York Observer has published a 15,000 word article spilling all the juicy details. Apparently, Ripple and Stellar were going out for quite some time. They were thought to be the cutest couple by all of their friends, and their families were sure an engagement was imminent, but then it turned out that Stellar was cheating on Ripple with a bitcoin mining operation all this time. Ripple discovered the sensual love letter hidden in a closet and decided to confront Stellar a week....