Ripple announces lawsuit against YouTube

Today, Ripple will be making an announcement that will shed light on the lack of accountability in big tech. Central to this is the forthcoming lawsuit Ripple is taking to YouTube in a move to hold them accountable for allowing misinformation that harms consumers to remain on the platform without consequence.

Both Ripple and its CEO have suffered harm to public image, brand and reputation as a result of YouTube’s failure to address fraud and misinformation, despite requests for removal. Multiple scams and giveaways using Ripple’s name have defrauded hundreds of unknowing consumers resulting in the loss of thousands of dollars–in some cases, people have lost their entire life’s savings. These imposter giveaway scams are entirely preventable.

This is especially relevant given recent fake news including Trump posting a doctored video of Biden, and Twitter was very slow to label it as “manipulated media.” After weeks of fake YouTube videos promoting coronavirus cures, Google is only now taking action to remove some – still just a drop in the bucket. They only do so when public scrutiny reaches epic proportions. Big tech and media companies have failed spectacularly to protect consumers, and aren’t doing nearly enough to police their platforms. The tech industry needs to do better and we hope our news will prompt action.