Coinbase, the US-based cryptocurrency exchange, appeared to re-list Ripple’s token XRP on Thursday via its Coinbase Professional platform due to “Technical Points,” however the listing was short-lived. XRP/USD, XRP/EUR, XRP/GBP, and XRP/BTC pairs appeared within the site as available to trade, according to consumers who took to social media to report the issue.
After that, XRP’s value soared for a short period as the news hit the media, but it quickly faded after Coinbase admitted that such negative evaluations on a re-listing weren’t accurate, and that it had happened as a result of a technical problem. “As previously stated, Coinbase has halted XRP purchasing and trading. “XRP was momentarily displayed on the Coinbase Professional mobile app for select customers due to a technical glitch, but it was not tradeable,” Coinbase Professional stated on Twitter.
Nonetheless, several members of the cryptosphere were not persuaded by the argument. Customers speculated on social media that Coinbase may have made the move to ‘troll’ the US Securities and Trade Commission (SEC) as a result of the SEC’s recent threats against the crypto market in order to fill a lawsuit. “It appears that Coinbase is itching to engage in a fight with the SEC at this point. Good for them; I’m looking forward to seeing them annihilate these corridor displays,” tweeted @SplitCapital.
Is a Massive Authorized Battle in the Cryptosphere on the Horizon?
The US Securities and Exchange Commission (SEC) announced this week that if it opens its Lend programme, it may prosecute the US-listed bitcoin market for violating safety legal criteria. Customers can earn interest on their crypto assets through the Lend programme. Despite the fact that it has not yet been made available to the general public, the product is ready to pay a 4% dividend to holders who lend their stablecoin USD Coin (USDC) to Coinbase. However, due to the SEC’s upheaval, the launch has been postponed until October.
Coinbase said at the end of 2020 that it would stop buying and selling XRP on January 19. The disclosure came in the wake of a lawsuit filed by the Securities and Exchange Commission (SEC) against Ripple and its management.