“Coinbase, one of the world’s largest cryptocurrency exchanges, has announced that it will suspend XRP trading in response to the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Ripple. The SEC alleges that Ripple, the company behind the XRP token, conducted a $1.3 billion unregistered securities offering. The lawsuit also names Ripple CEO Brad Garlinghouse and co-founder Chris Larsen as defendants. Coinbase’s decision follows similar moves by other platforms including OKCoin, Bitstamp, and Binance.US. Despite the news, XRP’s price has seen a slight recovery, trading at around $0.22 at the time of writing.”
Key Points
- Coinbase is suspending XRP trading due to a lawsuit filed by the SEC against Ripple.
- Other platforms including OKCoin, Bitstamp, and Binance.US have also taken similar actions.
Coinbase, a leading cryptocurrency exchange, has decided to halt XRP trading. This decision comes in the wake of a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple.
The SEC accuses Ripple, the firm responsible for the XRP token, of executing an unregistered securities offering worth $1.3 billion. Ripple CEO Brad Garlinghouse and co-founder Chris Larsen are also listed as defendants in the suit.
Other Exchanges Follow Suit
Coinbase’s action mirrors those taken by other platforms, such as OKCoin, Bitstamp, and Binance.US. Despite these developments, the price of XRP has experienced a minor resurgence, trading at approximately $0.22 at the time of reporting.
