The XRP community has taken notice of senior X posts by Ripple’s retired CTO, David Schwartzsuggesting that Coinbase may have deliberately refused to list XRP on the exchange. Schwartz also suggested that the exchange ask Ripple for money before it can list the altcoin on the exchange.
Retired X Ripple CTO Posts Reveal Coinbase XRP Quote History
Crypto expert Digital Asset Investor caught attention to X’s senior posts from Ripple executive where he discussed Coinbase XRP List story and a hypothetical scenario in which Ripple was asked to pay XRP listing fees. In the first one Post Xwhich was created in May 2023, Schwartz said: “The story of XRP listing on Coinbase is the one story I most want to tell that I can’t.”
The Ripple’s CTO has retired the statement was in response to a question from another user X, who asked how much the company likely paid Coinbase to list XRP. This raised speculation that the exchange may have initially refused to list XRP on the exchange. In June 2023, Schwartz posted another post on X in which he described a “hypothetical” scenario in which the exchange refused to list XRP even though it was in its interest to do so.
Instead, the exchange asked Ripple to pay millions before it could list XRP on the exchange and told Ripple that it would have listed XRP some time ago if the crypto company did not exist. The retired CTO said he finally reached an agreement with the exchange, and the exchange subsequently listed XRP. From XRP ListSchwartz said the altcoin accounts for 20% of the exchange’s revenue.
Schwartz’s previous post from May 2023, where he mentioned Coinbase, got members excited XRP community concluded that Ripple’s retired CTO was likely referring to Coinbase in the hypothetical scenario he painted.
Impact of SEC lawsuit
It is worth noting that Coinbase has previously listed XRP SEC lawsuit v. Ripple in December 2020, but decided to delist the token in 2021 as the lawsuit took shape. This was based on the SEC’s claim that XRP is a security. The cryptocurrency exchange then re-released XRP in July 2023 after Judge Analisa Torres declared that XRP is not a security.
In his hypothetical scenario, Schwartz said an adversary in the litigation used the fact that he paid money to list XRP to suggest that the crypto company was using the money to fraudulently support XRP adoption or liquidity. However, the retired CTO said he simply paid the money to avoid harming the XRP ecosystem. The lawsuit, which lasted five years, had a negative impact on the price of XRP.
At the time of writing, XRP is trading around $1.32, down more than 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
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