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Blockchain.com prepares to delist XRP following in the footsteps of Coinbase

Blockchain.com prepares to delist XRP following in the footsteps of Coinbase

Quick take

1 minute read

  • Blockchain.com have recently announced that they will be taking Ripple off of its platform and suspending its trading. 
  • This comes after exchanges such as Coinbase have done the same.

Blockchain.com is a well-known wallet provider and crypto trading platform that has recently announced that it will be taking the native token of Ripple off of its platform and suspending its trading in the coming week. This comes after numerous exchanges such as Coinbase and OKCoin have done the same.

Blockchain.com’s information on supported digital assets however is still featuring the token at the time of writing. In a blog post published earlier this week on the 4th of January, the platform informed its users of the following:

"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."

With many platforms all over the crypto industry starting to get rid of the token as a part of its services, the community surrounding the token must surely be questioning its loyalty.

All of this comes after the United States securities and exchange commission slapped a lawsuit against the company at the end of last month. In particular, the lawsuit addressed the chief executive officer and co-founder of the company, Brad Garlinghouse, and Chris Larsen respectively.

The announcement from the exchange specifically mentioned the recent action against the company from the SEC as a reason for delisting the token.

They go on to say that revoking support for a listed asset is an ongoing process and that the company will be continuing to look into the developments as they unfold.

Whereas many crypto assets all over the industry have had a good start to 2021, Ripple and its problems only seem to be heightening.

It will be interesting to see how this goes over the coming months.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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