Replies to post #19708 on Ripple (XRPUSD)

[MindlessSelf]

Hahahahaha. Very funny post. Just to clarify all your existing loans with cred will continue to pay Into your uphold wallet and you can probably continue to roll them if you wanted. You just can’t add more funds from uphold to Cred.

I was curious if you will look to another platform other than uphold to continue your relationship with Cred. It’s an extra layer, but you could setup a wallet with an exchange who is partnered with Cred, and then just take your uphold purchases and move them to the new wallet and then lend them.

Or this may be time time to explore Nexo. There are downsides to Nexo as in how you receive their premium rate, but for xrp you get 4% as the base rate and it’s compounded and it’s paid to your wallet daily in xrp so it is all liquid and interest earning potential is unlimited to the upside. All interest and principal is lumped in one wallet and priced in real time. So I like that aspect when xrp takes off if and when that happens. There is no need for any ladder investment either.

[MindlessSelf]

Even scarier it gets with Cred :(


Cred has experienced irregularities in the handling of specific corporate funds by a perpetrator of fraudulent activity that has negatively impacted Cred’s balance sheet and precipitated a law enforcement investigation into the loss of these funds. Cred is cooperating fully with law enforcement authorities in connection with the investigation into the incident. Cred is in the process of carrying out an internal accounting of its assets and assessing the impact of the incident on its current business and in consultation with legal counsel has determined to temporarily suspend all inflows and outflows of funds relating to the CredEarn program. No client personal information or other account data has been compromised.

Partner activities have been temporarily paused. During this period, users will not be able to pledge or withdraw assets, neither initiate new programs nor re-enroll in current ones.

Given the circumstances, we are unable to comment further at this time but we will undertake to provide an update within the next 2 weeks.

We sincerely apologize for the inconvenience, and we will update you as soon as possible regarding this situation.

Thanks again for your patience.

Cred Team