XRP Market Head at Ripple Dismisses Claims of Paying Coinbase To List XRP (XRP)

Recently, Coinbase added XRP (XRP) to its professional trading platform. Coinbase is one of the major digital currency trading platforms in the world. Whenever the trading platform lists a digital currency, the coin usually experiences a significant price surge. The value of XRP (XRP) also responded positively when Coinbase announced its listing. However, the price surge wasn’t that significant. Many experts expected the listing to ignite the bullish XRP price predictions for 2019.

However, there are speculations that XRP (XRP) was listed on Coinbase illegally. Rumour has it that Miguel Vias bribed Coinbase to add XRP to the list of its tradable digital currencies. Miguel Vias is the head of XRP (XRP) markets at Ripple.

Vias Denies Claims of Bribing Coinbase to List XRP (XRP)

Miguel Vias has openly dismissed claims of bribing Coinbase to add XRP to the list of tradable coins on its platform. These bribery claims were shot at Coinbase after it announced the listing of XRP on the 26th of February. In contrast, Coinbase has been very careful of the said listing.

The careful approach of Coinbase was as a result of the controversial history of XRP with Ripple Inc. Ripple is a San Francisco-based blockchain startup. The startup owns more than 60 percent of XRP tokens – worth billions of dollars.

The pending $167.7 million class-action lawsuits against the firm was another concern. The lawsuit against the firm will determine if XRP (XRP) is a security asset or not. Nevertheless, Allistair Milne said all the genuine concerns of the trading platform were dropped. Allistair Milne is the CIO of Altana Digital Currency Fund

Via an email, Milne reached Elliot Suthers with a series of interrogative questions. Elliot Suthers is the director of communications at Coinbase. The CIO asked Suthers if Coinbase sought the permission of the Commodity and Futures Trading Commission or the SEC before listing XRP. He also asked if Coinbase had a private deal with Ripple for listing XRP on its platform.

Miguel Vias Claim XRP (XRP) Is Not Their Token

Vias contradicted the statement of Milne via a tweet on the 28th of February. He said that Ripple did not pay off Coinbase to add XRP (XRP) to its trading platform. The Ripple defendant also said that XRP (XRP) was not their token.

Vias’ tweet read: “We are happy to go on the record. The listing of XRP by Coinbase (also, not ‘our token’) was the independent decision of Coinbase. We did not give them any money to add XRP (XRP) to their trading platform.”

Over the past years, Ripple has faced a lot of criticisms for holding the majority of XRP (XRP) tokens. To reduce the flack, the firm decided to lock about 55 billion XRPs in an escrow account. They programmed the smart contract to be releasing one billion XRP tokens on the 1st of every month. At the end of every month, the firm would return the unused tokens to another escrow account.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.287
-1.25%

At the press time, XRP (XRP) is changing hands at $0.31 after a decrease of less than one percent over the past twenty-four hours. The digital currency currently boasts of a market cap of $12.90 billion. Its trading volume over the past twenty-four hours is $671.78 billion.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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