I don't understand how Ripple XRP is legal. Well, obviously it is legal simply because there is no law to regulate this shit, but still...
So, they developed the Ripple protocol and secured some high profile corporate customers (BBVA, UBS, etc). Kudos to them. Really — good technology, paying customers, everything is peachy — very successful startup. So far, so good.
But the moment they ICOed their own crypto-currency the problem started. First, most people don't realize that there is no retaliation whatsoever between UBS being Ripple's customer and the Ripple currency. People only see the words "UBS" and "Ripple" next to each other and assume there is some connection. This misconception (potentially deliberate and thus fraudulent) inflates XRP value.
Not only that, but apparently they are keeping 61% of the XRP to themselves! Fuckity fuck! How come that nobody is outraged about this!? 61%! Actually, I did not dig deep enough into this — Wikipedia claims 20%, while CNBC article says 61%. Which is also interesting — who is right and if it is CNBC, who edited that Wikipedia article?
And now everybody is patting them on the shoulder for putting some XRPs in escrow and promising to sell them at somewhat predictable rate. Wow! Such generosity!