Coinbase delists XRP! Coinbase delists XRP in response to the US SEC taking legal action against Ripple!
According to a blog post published today by Coinbase chief legal officer Paul Grewal, the exchange will fully suspend XRP trading starting on Jan. 19 at 10:00 am PST. Coinbase clarified that “trading may be halted earlier as needed” to maintain the exchange’s market health metrics.
The suspension will not affect ripple-backed Spark token airdrop.
“The trading suspension will not affect customers’ access to XRP wallets which will remain available for deposit and withdraw functionality after the trading suspension,” said Grewal. “We will continue to support XRP on Coinbase Custody and Coinbase Wallet.”
Coinbase is one of the largest exchanges to take a position on XRP following the recent announcement by the SEC that they will charge Ripple, Brad Garlinghouse, and Chris Larsen with conducting an unregistered and ongoing securities offering via a digital asset.
OKCoin, OSL, Beaxy, and CrossTower have already announced that they will take similar actions against XRP.
Most are anticipating other exchanges to fall in line to delist and or suspend trading of XRP now that a major player like Coinbase has already taken action.
XRP dropped 10% following the news from Coinbase. This is the latest in a series of bearish movements for the token – XRP has fallen more than 40% since the SEC announcement.
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