Ripple Exec Claims Company Did Not Pay Coinbase for XRP Listing

Marco Verch / Flickr

Rumors have been circulating around the nature of the recent XRP listing on Coinbase, a long-awaited milestone for the third-largest digital currency and Ripple.

For the greater part of two years, the XRP community has been fanatically engaging with Coinbase over social media regarding the exchange’s reluctance to list XRP, despite it being the second largest digital asset for a period.

Now, with the surprise listing that saw XRP’s price shoot up more than 10% in a matter of minutes, many in the crypto community are trying to sniff out the rationale for the listing.

A recent tweet by Alistair Milne included a screenshot of an email response from Coinbase Communications Director Elliot Suthers to the question of whether Ripple paid for the Coinbase listing. Given the cryptic nature of the response, “Happy to discuss off the record, but we’re not discussing publicly,” many began to draw conclusions that Ripple did have some sort of deal with the exchange.

Alistair Milne / Twitter

However, in a prompt response, Ripple’s head of markets, Miguel Vias, emphasized that Ripple would be happy to go on the record to state that Coinbase’s listing of XRP was an independent decision and that no payment or arrangement has been made.

He also doubled down on the idea that XRP is not Ripple’s, which has been a common talking point since it has been speculated that XRP qualifies as a security given the nature of its creation and current distribution.

Nonetheless, Ripple’s official position regarding the XRP listing is now public and any scrutiny will be put up against this denial.

Interesting: Why Crypto Twitter Is On Fire With #DeleteCoinbase
Photo: Marco Verch / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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