Player-friendly approach to casino comparisons sees audience grow to new highs. 

In January 2019, two iGaming enthusiasts from southern Finland, Paavo Salonen and Jonas Kyllönen, created an affiliate site which follows a different path to competitors in the sector – Mr-Gamble.com was conceived to provide a user-friendly service that details the key benefits for different online casinos.

In a little over a year, the team at Mr-Gamble (owned by CashMagnet Ltd) has grown from two to sixteen people, and their site is attracting millions of views and an audience of thousands, eager to find a more discerning comparison site for online casinos.  With such impressive growth, the company is now moving to bigger offices in their adopted home town of Tallinn, Estonia.

Putting the players first has been key to this success, with the team’s focus to build a casino comparison site which highlights the various benefits from leading online casino operators.  Easy-to-use filters allow players to match specific search criteria to their needs, such as high quality casino bonuses, with a brand promise to help users “find a 200% bonus in under one minute”.

Moreover, with responsible gaming high on regulators agendas for 2020, not least due to COVID-19, Mr-Gamble’s onboarding policies for new casinos include strict criteria to ensure player protection.  Time-out periods, self-exclusion options, financial limits, and more are all in place to reassure players that beyond the entertainment factor, their well-being is key. 

Jonas Kyllönen explains, “While our competitors focus simply on the bonus offer and a select few aspects of gaming, Mr-Gamble.com highlights things like hidden T’s & C’s and other small details that make up the overall quality of a casino’s service and the bonuses they offer. We even include a section purely for casinos that offer free spins, allowing players to find free spin offers without deposits.  This sets us apart from old school affiliates and builds trust with our audience, resulting in a high proportion of returning visitors.”

Kyllönen, who leads on all aspects of marketing for Mr-Gamble, also realises that staying plugged in to media platforms such as Twitch and Instagram enable the company to attract some of their users from the elusive millennial market.  

“In just six months”, says Kyllönen, “we became the most watched slots channel on Twitch in Finland, and alongside our Instagram following, this allows us to stay in touch with our audience across multiple touch points – it’s been key to our growth. We still see SEO and PPC as the main pillars of the casino affiliates sector, but complimentary channels like Twitch are both entertaining and good for business.”

This well-rounded approach to the casino comparison sector is both innovative and forward-thinking, standing the company in good stead for the coming decade, during which adapting to change and staying on top of market trends will separate the men from the boys.

Mr Gamble’s affiliate offering is already well-established in Finland, and in April 2020 Mr-Gamble expanded operations to more English-speaking markets including the UK and Canada. The company also plans to target the US market, with licensing currently underway, and is looking at opportunities in Asia. 

Alongside Finnish casino enquiries, the company invites English language operators from international markets, particularly in the UK and Canada, to contact silver@cashmagnet.money for more information on deals and listings.

With many in the sports betting and iGaming events industries still talking about a “return to normality in summer”, the truth is that despite the best efforts of politicians to string people along, there is no end in sight for the COVID-19 crisis.

As regular readers will know, here at AYO.NEWS we were covering the emerging crisis and discussing the possibility of global lockdowns way back in January. Despite most politicians and business leaders seemingly getting caught off-guard by the pandemic, it was obvious to anyone looking beyond the mainstream news that a virus as contagious as COVID-19 (coronavirus) would spark a global crisis.

Exactly as we predicted, the global travel shutdowns did come. But, driven by fear, hysteria, and computer modelling constructed from very weak and incomplete information, governments in many countries went even further, effectively shutting their economies and putting citizens under house arrest.

Ill-prepared health services and political incompetence caused the real problem

Egged on by politicians and their advisors, a mass propaganda campaign to “flatten the curve” and “save the health service from collapse” was implemented. This included what are completely arbitrary measures like the now universal “2m social distancing rule” – which many are almost religiously clinging to, despite it have next to no real value. Really, the only thing the 2m rule has done is show how woeful the general populations’ understanding of physics really is. The truth is that the distance the virus can spread in the air is utterly dependent on innumerable environmental factors, and leaving a 2m “safe distance” is nothing more than a placebo.

Now, as we stand at the start of May, through a combination of lockdowns and rapidly ramping up medical capacity, health services have categorically not been overwhelmed in most places. Sure, at the beginning the Italian and Spanish health systems did come close to collapse in a handful of regions – but that was because they were insanely ill-prepared for any surge – not because the pandemic hit particularly hard. Just look at better prepared and resourced countries like Germany, and, yes, even the UK.

Despite much talk about the National Health Service (NHS) being overwhelmed, the Nightingale hospital at London’s Excel exhibition centre, has received just a few dozen patients, and others, including the massive one set up at Birmingham’s NEC have not been used at all (and let’s not forget all those carefully choreographed and rehearsed TikTok dance routines). Now, this is not belittling the medical staff, at all. In fact, this author’s own sister works for the NHS, and has been drafted in, along with many of her colleagues to make Personal Protective Equipment (PPE).

But this gives a clue to the real problem here. Political and bureaucratic incompetence. Take the UK again. The death toll of 25,000+ sounds alarming, and is obviously awful for each individual and family affected. But, as much as people hate it, we have to look at the situation with rationality and not let decisions that have long-lasting, profound consequences for literally billions of people, be driven by emotion.

The huge majority of cases of COVID-19 are either completely asymptomatic, or very mild. Yes, it is extremely contagious, but unless you have an underlying condition, are in a vulnerable group, or are very unlucky, you are unlikely to be seriously affected by the virus. Of course, this hasn’t stopped the mainstream media running heart-breaking stories about terrible personal tragedies, zooming in on the rare exceptions, and painting an extremely disingenuous picture in the process.

The crisis in the health services have actually largely resulted from lack of equipment and basic supplies like PPE. Ridiculously cumbersome and inefficient public sector procurement and logistics systems, overseen by inept management and clueless politicians have caused the panics we’ve seen, and put medical and care staff at unacceptable risk.

A senior British Army source, talking to the UK’s The Times, newspaper summed things up well, saying:

“We know how knackered their [NHS logistics] systems are, but we’ve been surprised we’ve not been called in to help more, and we’ve been surprised by their failure to ration [kit]”

The absurdity of waiting for a vaccine

However, the measures being implemented globally mean no matter what your age or health, you are now certain to be affected economically. And let’s be totally clear here, when we refer to “economics” we are not exclusively talking about Wall Street traders, but rather normal peoples’ jobs, their ability to feed themselves and their families, and their children’s futures.

The truth is, that now, several months into the pandemic, we understand much more about the virus than we did in January. We know it is very contagious, and that the R0 number can be lowered with draconian lockdowns, travel restrictions and social distancing. But, we also know that, because there is no vaccine available, these measures are the only way to lower the R0 value. And that leads us to an inescapable reality, but one that the vast majority of politicians, business leaders and the general public seem unwilling to acknowledge right now.

The truth is, until an effective vaccine is 1) developed, 2) extensively tested, 3) mass produced, and 4) distributed globally, any easing of current lockdown measures will likely lead to resurgence of infection.

The problem is that an effective vaccine may never be developed for COVID-19, a virus that appears mutate and change very quickly, and even if by some miracle the perfect vaccine was developed right now, it could still be years before it was available in sufficient quantities to ensure widespread immunity globally.

Unprecedented economic collapse

Now, consider that globally the economic and travel shutdowns have already triggered what is likely to be the world’s worst economic catastrophe. Weeks ago the IMF concluded it would be the worst economic disaster since the Great Depression of the 1930s, while the UK government has said it expects the worst economic crash for 300 years, and in recent weeks the United Nations has warned about widespread famines of “biblical proportions“. And, as the lockdowns drag on, the projections are only getting worse.

Right now, in many countries, millions of staff are on furlough, getting subsidised by governments to stay at home. But this money won’t last forever, and it will need to be paid for in the future. It doesn’t take a genius to figure out that governments, businesses and individuals already struggling under crippling, record levels of debt, aren’t going to be helped in the long term by piling even more debt on top.

Of course, those currently furloughed would also do well to remember that businesses, large and small, still have overheads to pay, even if they are “hibernating” and aren’t generating revenue, and despite government support, many are going to collapse. Then those furloughed will transition to unemployment, and straight onto unemployment benefit. To put this in perspective; in the UK right now most furloughed staff are getting close to their regular salary, up to £2,500 per month. Unemployment benefit (Universal Credit), is under £400 per month for most. Will those currently supporting the lockdown feel the same when they make this transition?

The easing lockdowns farce

Right now many readers will probably be saying, “but the government said they are easing lockdown measures.” This is perhaps the biggest farce of all. It is entirely true that many governments are trying to do the impossible – maintain social distancing measures while reopening economies. However it is entirely ridiculous, and just making a bad situation worse.

First up, as long as the virus is circulating somewhere in the world, and mutating, there are very likely to be more waves. Unfortunately, many seem to be under the impression that if another wave hits it will be solely due to easing of lockdown restrictions. This has created a very dangerous belief, and one that ensures those places that do ease restrictions will periodically have to reintroduce them.

Yes, easing lockdowns will inevitably see a surge in infections – it is just logical. But there will be more waves of infections regardless, as the virus mutates and returns to a population that, as we are now almost certain, is incapable of developing long-lasting “herd immunity.” For, just as with other coronavirus types, like the common cold, any immunity developed is normally very short lived – hence why we are seeing so many cases of re-infection around the world. At this point it is worth noting that this inability to develop long-lasting immunity, also makes a mockery of plans for so-called “immunity passports” and other “smart” ways out of lockdown.

But there is a more fundamental reason why talk of “easing lockdowns” is basically smoke and mirrors. Take Spain as an example. One of the worst hit countries initially (again, due to being so ill-prepared in the first place), its government is now desperate to get its economy rolling again. Let’s zoom in to one particular sector that perfectly illustrates how deluded politicians are.

Tourism. So, from early May, hotels will be allowed to open. But, international travel is still basically shutdown. Where will the tourists come from? Next, though they can open, they can only operate at 30% capacity, and all communal areas will remain closed. Add to this that bars and restaurants will also only be allowed to operate at 30% capacity, and only on outside terraces. Beaches and other areas will still be policed for social distancing, and many entertainment and tourist venues will remain shut. Again, you don’t have to be great at maths to figure out that this is a “re-opening” in name only. Simply something to give politicians a way to make it look like things are getting better.

In reality, most hotels, bars, restaurants etc will find they can’t attract anywhere near enough customers to even cover operating costs, let alone turn a profit. Of course, because they are technically allowed to open, it will mean the governments can offload the burden of furlough pay, claiming people “can” go back to work. Businesses will simply stay closed, or try to open and soon collapse. Either way, those people are on the unemployed list.

Similar scenarios will be played out across myriad sectors and every country.

Global mass travel not resuming any time soon

Next, lets look at international travel. Right from the start of this crisis in January, we’ve been watching the airlines as the “canaries in the coal mine.” Because running an airline is all about future planning (from buying or leasing hugely expensive planes on finance, securing landing slots and routes, anticipating seasonal demand, and even buying fuel in advance to hedge against price fluctuations), what they do speaks volumes.

Take Norwegian Air Shuttle, which earlier this week said it expects its fleet to remain grounded for at least a year, or British Airways, Lufthansa and SAS, which have announced huge staff cuts, or Virgin Atlantic and Air France – KLM, which have said that they will not be able to continue to operate without bailouts worth many billions of euros.

Anyone can see that global mass air travel has been decimated. But, what about talk of re-opening air travel? Quite simply it is a joke. Plans for flights to operate at no more than 20%-30% capacity, leaving seats free to ensure “safe distancing”, are not only farcical from a health point of view, but will also be impossible for airlines to implement. Just as insane are plans to require travellers to turn up at airports 4 hours before flights so they can undergo health checks.

Does anyone seriously believe that, in an industry where profit margins are razor thin at the best of times (with fully packed planes), airlines will be able to operate viable businesses subject to these requirements? Furthermore, will anyone even want to travel?

Add in to the mix, the fact that millions of would-be travelers are going to have lost their jobs due to the economic crisis, and won’t be able to afford to travel, and those lucky ones who still can, will be very unlikely to find any insurance companies willing to cover COVID-19 related disruption. And that’s not all – remember, millions of travelers have been badly stung, and are still waiting for travel refunds; they aren’t likely to trust travel or insurance companies for a long time!

The truth is that, with these restrictions in place, air travel is going to get very uncomfortable, and very expensive. As airlines go under, and routes disappear, it will only get more expensive and inconvenient. Under these conditions, there can be no return to mass tourism or business travel. International sporting events, along with business conferences and exhibitions are going to be impractical for years to come.

Politicians have painted themselves into a corner

Inevitably, as the crisis drags on, the truth will dawn on more and more people. Unfortunately, politicians and advisors have “painted themselves into a corner.” Around the world, politicians and experts hesitated and missed the window to take action that could have been truly effective and minimally disruptive (like shutting down all travel from China in January). Then they panicked, and took draconian measures far too late, effectively painting themselves into a corner.

To change approach now and honestly admit to people that, in order to save what’s left of the global economy, social cohesion, public services and international peace,  we will need to completely lift lockdowns and take our chances with the virus, would be to admit they were wrong, and make them appear liable for the destruction of their own economies. Of course, they will never do this.

Instead, most countries will continue on this ridiculous path of trying to maintain social distancing while “opening up” economies which, as we’ve already explained, is doomed to failure. This will just ensure further economic damage, risk massive social disintegration, and possibly even trigger wars.

Looking ahead

Unless the entire world, or at least large regions, lift the lockdowns and face the truth, then the big picture will just deteriorate.

It is true that some countries, especially those with advantageous geographical locations, including islands like Malta, Iceland and the Faroe Islands, may well be able to eradicate the virus in their communities. In those countries the local economies may be able to open up properly again, but, their governments will not be able to allow mass international travel to resume, for fear of reintroducing the virus.

In larger countries more geographically exposed to infection, like the UK, Germany, France, Spain and Italy, we will likely see something similar to what has happened in parts of China, or Singapore – where lockdowns were lifted in one place, only to be reintroduced in others.

Looking across the Atlantic to the United States, a powder keg is set to explode. Trump, love him or loathe him, at least seems to have understood that staying in lockdown will cause damage magnitudes of order greater than the virus. However, governors in many states seem to be determined to follow the European lockdown model, and this is setting the stage for a second civil war.

Out of all this uncertainty, a couple of salient points for the industries we cover here at AYO.NEWS emerge quite clearly:

• Disruption to the global sporting calendar will continue for many months, or maybe even a year or more. There will definitely be no “return to normal” this summer.
• Expos and conferences, which are such an integral part of the iGaming industry, cannot realistically expect to be viable again for years.
• Gambling operators should be taking a much more long-term view of their sports alternatives, like esports and virtual sports.
• Those countries and jurisdictions with economies dependent on foreigners, (whether as tourists, entrepreneurs, or staff), like Malta and Curacao, need to retain the businesses still functioning and appreciate they will be more dependent on them than ever.

A final thought

These are incredibly difficult times for the world, and there are some extremely tough choices. But people need to stop hiding behind virtue signalling and artificially simple constructs and soundbites.

Just as those supporting lifting lockdowns have to understand it will inevitably cause many thousands of people to die prematurely, those supporting continued draconian lockdowns need to understand that they are supporting a course of action which will cause more long-term misery, suffering and deaths than COVID-19 ever could.

There is no “good” option.

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Helmet Guy of PlayAttack Affiliates elaborates on branding, the eternal fight between reason and emotion, and the challenges faced by the B2B sector where branding is often neglected.

People often think of branding as a symbiotic relationship between art and science — something envisioned by spiritual hippies and transformed into a marketing weapon by men in suits. 

Admittedly, the two worlds collide when it comes to branding. In essence, branding is both a form of art that manages to steal people’s attention and the science of communicating a message in a relatable manner. 

However, as it usually goes with art, there is no perfect formula that guarantees success, and businesses sometimes struggle to come up with a solid branding strategy. This is especially evident in the B2B sector, the less glamorous sister of B2C, where branding tends to be neglected more often.

I’ll dive into more detail on the nature of B2B branding later in the article. Let’s take a moment to look into the importance of designing a solid branding strategy first.

The Art of Branding Something Imperfect

Make America Great Again…

As these words echo in your head, you immediately visualize an orange-faced man with an unnaturally bright under-eye area and signature flaxen hair.

Donald Trump is a brand. He is the man who promised to make America great again. He is planning to do so by building a wall to protect his little American dream from the nasty “animals,” as he likes to refer to the residents of neighboring Mexico. He’s also planning to make America great again by refusing to use the scientific term behind the recent global pandemic and calling it “Chinese virus” instead. 

And there he is — an imperfect man leading a global superpower. Like him or hate him, Trump is a master brander who had managed to convince the majority of the nation to cast their vote for him in the 2016 US presidential election.

Trump’s example shows us that something doesn’t have to be perfect for you to build a successful branding strategy around it. You might not have the best product in the industry nor the infinite resources to market it. And you also have fierce competition driven by the very same goal of being the best. But while you’re trying to improve your product in the battle for conversions, you should never forget about branding.

Branding Is Not For B2B They Say

It doesn’t matter if you’re in B2B, B2C, or you’re Donald Trump. Having a solid strategy that will differentiate your brand from the competition is crucial. 

B2B and B2C are both about selling something, be it a product or a service. However, branding is often viewed as not as relevant in the B2B sector, where buying decisions are primarily being made based on hard facts. 

While B2C activities are in their majority transactional, rather than relational, and the buying process is often guided by emotion, the main priority of the buyer in B2B is the welfare of their business. And since the main trigger for any branding strategy is the buyers’ intent, it is essential to understand that branding in B2B requires a slightly different approach. Merely appealing to emotions won’t do.

In B2B, the buying process is primarily guided by logic and reason. The buyer persona is less about traditional aspects such as demographics and more about the roles of people within a company. PlayAttack’s target audience, for instance, is an Affiliate, not just a male in his 30s. This does not, however, mean that branding should not be a priority in the logic-driven B2B sector. The differences between B2B and B2C simply show us that the B2B branding strategy should mainly focus on building relationships with the audience rather than only appealing to their emotions.

I Want It, I Got It! (#not)

It’s simple. There’s no “Mummyyyyy I want it!” when it comes to business transactions in B2B. Your client’s “mummy” is their boss, and believe me, you’ll need more than cute puppy eyes to convince them to make a purchase.

The point is — people don’t always need the stuff they buy. Their buying decisions might be guided by boredom, consumerism, desire, or pure impulse. 

That’s not the case with B2B, where you typically have a smaller range of customers your offerings can appeal to. These professionals will only go for it when they need it, and only if they trust your brand. Consequently, in B2B, you should tailor your branding strategy to their needs, focus on adding value to your product, and work on building trust. I’ll take PlayAttack Affiliates as an example. We are there to help people who act as business units or enterprises earn online by driving traffic to our casino brands. The value, in this case, is the money they receive as a result of this business collaboration. And this value is undeniable.

In B2B, you must focus on establishing your brand as a thought leader to appeal to your professionally-driven target audience. A B2B brand is something that has developed a personality beyond the product — you need to make it clear why the buyer should choose your brand from the ocean of alternative possibilities. And no, it’s not just your generous commission plan or the ground-breaking software you’re offering. It’s the effort you put into making your product distinct and recognizable. It’s your videos and the carefully crafted blog posts they might find useful, and your company values shining through each of these elements.

Final Thoughts

David Ogilvy, who is commonly known as the “Father of Advertising,” once said that a brand is something that remains us when our factory is burned. There is no arguing — branding should be an essential part of your marketing strategy if you want to be remembered. It boosts conversions, builds trust, and can even win you a presidential seat. Worth investing in, don’t you think?

Businesses are continuously evolving through their battle for recognition and diversification. They come up with sophisticated methods to convince their buyers, gradually ditch automated messages in favor of a more personalized approach, and focus more on their values.

It’s true — there is no universal formula that can guarantee that your branding strategy is going to succeed. You do, however, have a great chance to elevate your brand when you develop an approach that goes way beyond your product.

Images courtesy of and © PlayAttack Affiliates, all rights reserved.

Simona talks esports betting with Paris Smith, CEO at Pinnacle.

Paris Smith, CEO of major betting operator Pinnacle, and speaker at the SBC Digital Summit (27 April – 1 May 2020), talks with Simona about the global sports shutdown caused by the COVID-19 (coronavirus) crisis, and how betting operators are turning their attention to esports.

Staying with Pinnacle, in March we reported the company had become the first sponsor of new CS:GO league FLASHPOINT.

With the COVID-19 crisis disrupting traditional sports betting, online poker is seeing a huge surge in interest as operators look for alternatives.

With this in mind, we caught up with Dmitry Starostenkov, CEO of EvenBet Gaming – the online poker platform powering a special tournament at next week’s SBC Digital Summit.

Tell us more about the upcoming poker tournament you are hosting at SBC Digital Summit, how will it work?

Dmitry Starostenkov (DS): We’re really excited to be involved with this online conference and bring some exciting card action to the table for delegates to enjoy. Using the industry leading EvenBet Gaming poker platform, the competition will start after Tuesday’s panel discussions where all attendees will have the opportunity to take part in a multi-table Hold’em tournament. To enter, all you have to do is visit the virtual EvenBet virtual booth in the exhibition hall and retrieve and individual password. It’s sure to be great fun and an enjoyable way to end the day’s agenda of thought-provoking presentations and discussions.

Could you provide us with a sneak peek on what we can expect from your presentation Poker to the Rescue?

DS: From my perspective, I’ll be looking to outline why poker must be considered as a mainstream product for operators right now. Recent months have shown that online poker is a great way to keep players engaged during this challenging period. The game format already resonates with players worldwide, while the social element will be really attractive for a number of individuals. Poker should be a top priority for those looking to looking to offset the decrease in sportsbook revenues.

Given the ban on live sporting events across the globe, are you finding more bettors are turning to online poker?

DS: Absolutely, we’re seeing a significant increase in poker wagering across the globe as players seek alternative experiences as a result of the live sports shutdown. It’s obviously a very difficult time right now, particularly for sportsbooks which are facing lower levels of engagement right now. The message from EvenBet Gaming is that we’re here to support those operators that are in need of new content and experiences for their customer base, and our poker platform is a very suitable product to meet the demand. At a time when we’re all craving for social interaction, poker provides exactly that as groups of friends can come together and enjoy an entertaining experience. For operators, it makes strategic sense to offer poker because of the minimal financial risks involved, as they get the rake with players competing against each other.

How has COVID-19 impacted your business?

DS: There’s been a 200% increase in requests and contacts in our company over the last few weeks, a big indication as to how operators and platform providers are viewing poker at present. We’re a global business that is able to meet the demands of customers during this unprecedented period. Our state-of-the-art technology and functionality allow for a simple API integration, with other features including a seamless wallet and a full user database, all founded on a continually upgraded and localised offering.

Do you expect this surge of interest in poker to continue for the foreseeable future?

DS: All the market trends suggest that online poker will continue to rise in the coming months and well beyond this global pandemic. Even before the outbreak, poker was enjoying a strong resurgence in many territories, in particular parts of India. The regulatory landscape continues to evolve and we expect more places to embrace regulation that will help the vertical to grow even further. Latin America is a very interesting territory too. Since launching our poker network in the continent earlier this year, early adopters have enjoyed great success with players enjoying the 33 different game types that our platform has to offer. As regulation rolls out in countries like Peru, Argentina and Brazil, we’re confident Latin America will become a key market for online poker.

It’s a big “thank you” to Dmitry for taking the time to share his thoughts during these unusual times, and we’re looking forward to keeping up with EvenBet and the growth of online poker in general.

Don’t forget to check out EvenBet’s fully customisable turnkey poker solutions and be sure to reserve your place at the SBC Digital Summit from 27 April – 1 May 2020.  

All original content featured on this site is © Pentagon Digital Limited, 2020.

It seems Ripple has lost more key talent as Head of XRP Markets, Miguel Vias, jumps ship, while lawsuits fly and the XRP community continues to evaporate.

Ripple haemorrhages top talent

Vias joined Ripple in late 2016, after serving as Global Head of Precious Metals Options at CME Group for five years. While at Ripple, Vias oversaw XRP sales surpassing $1 billion in value, and was responsible for formulating the partnership strategy for xRapid.

Ripple has not formally announced Vias’ departure, but he has updated his LinkedIn status to communicate he is no longer with the company.

Regulatory concerns which have caused Ripple to try to distance itself from the XRP currency seem to bet taking their toll on the company’s top talent. Over the past two years numerous executives have jumped ship, including Catherine Coley (now CEO at Binance.US), Cory Johnson, and Dan Morgan.

While veteran engineer Evan Schwartz, who played a fundamental role in the development of the Interledger Protocol (ILP), also departed Ripple in January 2020, after six years with the company.

Investor sues Ripple, Ripple sues YouTube

As we reported in February, Ripple is also facing a lawsuit in California alleging that the XRP cryptocurrency is an unregistered security. The lawsuit, brought by disgruntled XRP investor Bradley Sostack, also originally claimed personal liability against Ripple CEO Brad Garlinghouse, and that the firm engaged in false advertising – but both those claims were dismissed by a district court judge.

Meanwhile, recently Ripple Labs and CEO Garlinghouse filed their own lawsuit against YouTube, alleging the video platform knowingly aided crooks running XRP “giveaway” scams, which irreparably harmed the image of both the company Garlinghouse himself.

Enthusiasm for XRP evaporates

With the price of XRP now around 95% down from its peak, enthusiasm for the cryptocurrency is evaporating fast.

Social media activity surrounding crypto, which not so long ago commanded a sometimes alarmingly enthusiastic following, is crashing. According to some reports, based on data from Telegram chat groups, over the past two years Ripple has lost over 63% of its active community.

Community Capitulation

(Whaleclub went private so it’s the most accurate number for existing members after 2017 bull run)

Member loss is from June 2018 till April 2020 pic.twitter.com/Cy19Nz0PoS

— Aztek_Ƀtc (@Aztek_btc) April 15, 2020

XRP’s fall from grace seems to be confirmed by a Decrypt report stating that it was the worst performing cryptocurrency among the top 25 coins, by market capitalisation, in Q1 2020.

So, why all the negativity? Many would argue Ripple’s token dumps and its public line that it isn’t concerned about the price of XRP have demoralised the community to the point of no return.

All original content featured on this site is © Pentagon Digital Limited, 2020.