Ripple Partner HSBC Accused of Naked Shorting in South Korea, Facing Criminal Charges
In a significant turn of events, HSBC, a prominent global investment bank and a partner of Ripple through its association with tech firm Metaco, has been indicted by South Korean prosecutors. Along with three of its traders, the bank is facing criminal charges related to illegal naked short selling. The allegations against HSBC amount to a staggering 15.8 billion won, equivalent to approximately $12 million. This development raises concerns about the practices of a key Ripple partner and adds a new layer of complexity to the ongoing legal issues surrounding the bank.