Bitcoin

Bitcoin Daily: YouTube Seeks Dismissal Of Ripple Lawsuit Alleging Crypto Scam; China's Ant Group Launches AntChain Blockchain

YouTube is seeking to dismiss a lawsuit against it from crypto firm Ripple alleging that YouTube doesn't do enough to remove scams and fraud, according to court documents.

Ripple has noticed in the past several years that scammers have taken to numerous schemes to defraud crypto companies, including one in which they reportedly hijack YouTube accounts to glean funds from victims through bogus giveaways.

The popular tech giant posits that the lawsuit should be thrown out because the schemes are not unique to YouTube, the company itself is a victim in the scam too, and there have been no claims filed against the actual fraudsters, the court document reads.

The document asserts that Ripple's claim runs into problems with the immunity granted to websites like YouTube, which are protected from claims that they didn't do enough to stop offensive content or other harm.

And the court document asserts that Ripple "fail[s] to state a viable claim" because Ripple did not allege that YouTube had directly done anything wrong, instead just claiming the company didn't do enough to stop something else from happening.

In other news, Ant Group, the FinTech arm of Chinese eCommerce company Alibaba, has launched its own new blockchain brand called AntChain, according to The Block.

AntChain will be used with the company's blockchain-based solutions such as OpenChain, and it will be able to support over 50 use cases along with shipping and cross-border needs, according to an Ant Group spokesperson, speaking with The Block.

AntChain can supposedly serve 1 billion user accounts and process 1 billion transactions per day, the spokesperson said. In addition, the company launched AntChain Station, which allows business clients a faster way to deploy blockchain solutions, reportedly in as little as an hour.

Ant also recently announced an initial public offering (IPO) on both the Hong Kong and Shanghai stock exchanges, and the company has been working heavily with blockchain technology since 2015.

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