{"id":288491,"date":"2023-01-12T19:39:39","date_gmt":"2023-01-12T19:39:39","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=288491"},"modified":"2023-08-13T15:43:23","modified_gmt":"2023-08-13T14:43:23","slug":"ripple-cto-called-out-for-market-manipulation-of-flr-token","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ripple-cto-called-out-for-market-manipulation-of-flr-token\/","title":{"rendered":"Ripple CTO called out by Twitter for market manipulation of FLR token"},"content":{"rendered":"<p>Ripple CTO David Schwartz has been criticized for alleged market manipulation of <a href=\"https:\/\/cryptoslate.com\/coins\/flare\/\">Flare (FLR)<\/a> tokens with his recent comments on the FLR token airdrop.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The current Flare holding rules for subsequent airdrops leave absolutely no incentive not to sell your Flare now. You lose *nothing* if you sell now. 1\/3<\/p>\n<p>&mdash; David &quot;JoelKatz&quot; Schwartz (@JoelKatz) <a href=\"https:\/\/twitter.com\/JoelKatz\/status\/1613402126784548864?ref_src=twsrc%5Etfw\">January 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The Ripple CTO recently spoke in favor of selling FLR from the Flare project citing the token has no value. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Schwartz highlighted Flare's recent airdrop and targeted the Flare team claiming they had not kept to their commitment and gave 15% of what they promised. Furthermore, the CTO claimed that Flare leveraged the XRP community to grow but undermined its promises. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A few hours after his comments, FLR <a href=\"https:\/\/cryptoslate.com\/flare-token-dumps-10-after-ripple-cto-advises-to-sell\/\">tanked by 10%<\/a> to $0.04367.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite some Twitter users <a href=\"https:\/\/twitter.com\/JoelKatz\/status\/1613422027024760835\">supporting<\/a> his views, some accused him of manipulating the community to sell FLR and, one hour later, claiming to have bought a &#8220;bunch.&#8221; <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Did you get a little buy-in liquidity by posting this thread to your 500K XRP community followers?<\/p>\n<p>&quot;You lose *nothing* if you sell now.&quot;<br \/>1 hour later  <br \/>&quot;I just bought a bunch.&quot;<br \/>\ud83e\udd14<\/p>\n<p>&mdash; Flare Oracle (@flareoracle_io) <a href=\"https:\/\/twitter.com\/flareoracle_io\/status\/1613458506178256898?ref_src=twsrc%5Etfw\">January 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">After all that, why did you then buy flare? that\u2019s some crazy double speak you have going on there, telling everyone why it\u2019s good to sell, only then to finish by saying you bought flare. Genuine question<\/p>\n<p>&mdash; crypto skater \ud83d\udef9 (@crusader_alt) <a href=\"https:\/\/twitter.com\/crusader_alt\/status\/1613462024817868802?ref_src=twsrc%5Etfw\">January 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Worth noting that Flare Network intends to introduce smart contract capabilities to multiple blockchains, starting with XRP and Litecoin (LTC). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On January 9, 4.279 billion FLR tokens were <a href=\"https:\/\/twitter.com\/i\/broadcasts\/1MYxNgzjDaVKw\">distributed<\/a> to XRP holders based on a snapshot of the XRP Ledger (XRPL) taken in late 2020.\u00a0 With the airdropped token starting to trade on exchanges like Binance, OKX, and Kraken, prices rocketed above $0.076.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, FLR <a href=\"https:\/\/cryptoslate.com\/coins\/flare\/\">dropped by 87%<\/a> shortly after token distribution started on January 9. Despite this, the token has rebounded somewhat after the comments of the Ripple CEO, trading at $0.04451 as of press time.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple CTO David Schwartz has been criticized for alleged market manipulation of Flare (FLR) tokens with his recent comments on the FLR token airdrop. The Ripple CTO recently spoke in favor of selling FLR from the Flare project citing the token has no value. Schwartz highlighted Flare&#8217;s recent airdrop and targeted the Flare team claiming [&hellip;]<\/p>\n","protected":false},"author":1393,"featured_media":349631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77873],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple CTO called out by Twitter for market manipulation of FLR token<\/title>\n<meta name=\"description\" content=\"While Schwartz advocated selling FLR, citing the token&#039;s lack of value, he later admitted to buying a large amount.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ripple-cto-called-out-for-market-manipulation-of-flr-token\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple CTO called out by Twitter for market manipulation of FLR token\" \/>\n<meta property=\"og:description\" content=\"While Schwartz advocated selling FLR, citing the token&#039;s lack of value, he later admitted to buying a large amount.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ripple-cto-called-out-for-market-manipulation-of-flr-token\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-12T19:39:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-13T14:43:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/david-schwartz-xrp.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Soumen Datta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Soumen Datta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/ripple-cto-called-out-for-market-manipulation-of-flr-token\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/ripple-cto-called-out-for-market-manipulation-of-flr-token\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/#person\",\"name\":\"Soumen Datta\",\"url\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen.jpg\",\"caption\":\"Soumen Datta\"},\"jobTitle\":\"Journalist\",\"description\":\"Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects. 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