Ripple CTO Breaks Silence on Coinbase Controversy

Summary of Ripple CTO Schwartz Breaks Silence On Coinbase Controversy

  • Ripple CTO David Schwartz addressed accusations that Ripple paid Coinbase to list XRP.
  • The allegations originated from a Bloomberg report in 2018 and have recently sparked controversy.
  • The ongoing legal battle between Ripple and the SEC adds uncertainty to Coinbase’s stance on XRP.

Background Information

Ripple CTO David “JoelKatz” Schwartz has stepped forward to confront the lingering suspicions and doubts about Ripple’s relationship with Coinbase, one of the leading crypto exchanges. The accusations, suggesting that Ripple had incentivized Coinbase to list XRP, its native token, originally surfaced in a Bloomberg report from 2018. The story has found renewed life in the wake of Judge Analisa Torres’ latest ruling in the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC).

Schwartz Responds to Allegations

Schwartz replied to a tweet from ScamDetective, an on-chain scam detective account asking „How much does everyone think Ripple paid Coinbase to list XRP?“. He conveyed his thoughts expressing regret over being unable to share the real story behind Coinbase’s listing of XRP. His cryptic remark has only added more fuel to the speculative fire.

Coinbase’s Stance On XRP

Jeremy Hogan, a lawyer who supports XRP, has shed light on the reasons preventing Coinbase from reinstating XRP to its platform. The exchange had removed XRIP from its listings back in November 2022 due to current legal limbo around Ripple’s status causing hesitation for Coinbase.

Ripple vs. SEC: Implications

Hogan asserts that the current legal limbo around Ripple’s status is likely causing Coinbase’s hesitation. With no final judgement yet in pending case between Ripple and SEC,the exchange seems cautious when it comes taking any action regarding listing or delisting of cryptocurrency tokens like xrp .