Connect with us
[changenowio_exchange_widget]

get a dubai visa and apartment with bitcoin

cryptocurrency

Blockchain.com joins other crypto exchanges in delisting XRP

Published

on

Blockchain.com joins other crypto exchanges in delisting XRP

LEARN HOW TO TRADE, BITCOIN, EOS, ETHEREUM, LIGHTBLOCKS MEDIA

With Blockchain.com being the newest exchange to suspend XRP trading, Ripple’s plight has multiplied.

Popular wallet provider and crypto trading platform Blockchain.com announced that it will delist XRP and cease trading under the steps of Coinbase, Binance.US, OKCoin and other companies.

Although the information on supported crypto assets on Blockchain.com continues to use XRP at the time of going to press on Jan. 6, a blog post posted on Jan. 4 informs users:

“Blockchain.com will halt XRP trading beginning Thursday, January 14th at 11:59pm GMT. For all customers who have XRP balances, you will continue to have access to your XRP to send after we halt trading, but we will no longer support receiving more XRP in the Exchange.”

XRP’s delisting on multiple platforms is due to an anticipated yet controversial move by the United States Securities and Exchange Commission in late December to initiate a lawsuit against Ripple, its CEO, Brad Garlinghouse, and co-founder Christian Larsen, for alleged violations of U.S. securities laws.

lightblocks interest on btc

Without explicitly referencing the SEC’s lawsuit, Blockchain.com’s delisting announcement alluded to the exchange’s monitoring of “developments as they unfold — everything from network security to regulatory compliance and more” as an integral part of its decision-making process when it comes to including or revoking the trading of assets on its exchange and wallet services. 

Tetragon lawsuit caused Blockchain.com delisting of XRP

The news of another delisting of XRP came shortly after the lawsuit filed by investment firm Tetragon, a major investor in Ripple’s $200 million Series C funding in 2019.

Blockchain.com has not announced a date, whether temporary or otherwise, and may resume XRP support in the future. Exchanges that responded to the SEC’s actions decided to withdraw XRP entirely, or at least suspend trading until further notice. For example, Coinbase will continue to support XRP as part of its wallet and custody services, and some of them will only maintain restrictions for US users. In parallel with these developments, Grayscale Investments appears to have ended its subscription to XRP Trust.

The case against Ripple, Garlinghouse and Larsen is scheduled to hold a virtual pre-negotiation meeting in February. XRP has now lost its status as the fourth largest cryptocurrency by market capitalization and is currently trading at $0.23, down nearly 60% this month.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Copyright © 2020 LightBlocks