Ripple acquires Money Gram: FUD or news on its way to being confirmed?

2019-6-6 17:15

Since June 05, 2019, there have been massive tweets regarding Money Gram being acquired by Ripple. This has led to a lot of confusion and hype in the XRP community, causing prominent XRP enthusiasts to opine on the matter. Tiny details surrounding the aforementioned companies have caused speculation over the authenticity of the news.

CryptHawk, a Twitter user, made waves after his tweet became the source behind the so-called FUD over “Ripple acquiring Money Gram.”

BREAKING NEWS – Someone just bought someone today and this is big, really big! Prepare for take off, it's going out anytime soon now! I can't use hashtags neither more but you know who I am tagging most of the time! Just one thing: ASSEMBLE! #Crypto #cryptocurrency #Cryptotrading

— CryptHawk (@TheCryptHawk) June 5, 2019

Hours after this tweet, PYMNTS, a reliable source for news related to payments and commerce, tweeted the news article, “MoneyGram Works To Restructure Debt; Could Seek Buyer” and even pinned the same, which could be a coincidence or just a way to make the most out of a bad scenario.

PYMNTS’ article read,

“Reuters reported that in addition to exploring strategic alternatives, the company is currently working to restructure its outstanding debt, which was at $902.8 million as of the end of September… When asked about Holmes’ [CEO of Money Gram] thinking about a sale in November, the CEO and chairman said, “we always entertain discussions,” noted Reuters.”

CryptHawk followed the previous tweet with another update which read,

1. So far here's what I stated yesterday evening: a company bough another one and it was big! I already knew it since Nov 18 and this morning as it went crazy on Twitter I dropped the news that #Ripple acquired #Moneygram! I've never hyped any news and I trust my source!

— CryptHawk (@TheCryptHawk) June 5, 2019

XRP Research Center tweeted that Ripple acquiring Money Gram was a false rumour, and accused CryptHawk of scamming. The user also tweeted his theories debunking the same.  C3|Nik and Tiffany Hayden also tweeted in support of XRP Research Center.

David Schwartz, CTO of Ripple, neither confirmed nor denied the information, responding, “No comment. Sorry,” which is understandable as companies have a process involving Marketing and PR departments regarding any announcements. Any confirmation or denial of a rumour would disrupt the flow and impact of the announcements, if any.

CryptHawk however, seemed unfazed by the hate and asked his followers and non-believers to wait for an official response or a press release from either company, which might happen by the end of the week. He also confirmed in his tweets that he had a fairly reliable source backing his claim.

Money Gram International’s stock prices, which have been collapsing since July 2017, surged by ~5% in under two days, since the breakout of this rumor.

According to their official website, Money Gram provides quick and reliable worldwide fund transfers through more than 347,000 agent locations – including retailers, international post offices and banks, in more than 200 countries and territories and through mobile and online channels. Hence, if Ripple even decides to buy the company, Ripple could stand to gain a lot from Money Gram’s partners, some of which include MasterCard, VISA etc.

The post Ripple acquires Money Gram: FUD or news on its way to being confirmed? appeared first on AMBCrypto.

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