Altcoins, Blockchain, Crypto Apps, Crypto Mining News, Hot News, News & Updates

Binance.US delists XRP!

It has been a gloomy Christmas to New Year Season for Ripple labs.

After receiving a lawsuit from SEC and XRP tanking on price charts, it is only understandable that XRP holders were nervous about their wallets. But those who weren’t the only concerns doing the rounds. One might even argue that a more pressing concern is currently emerging, with several crypto-exchanges actively deliberating the need to delist XRP from their platforms. The latest to make a move on this is Binance.US; according to a recent announcement, it revealed that it would be delisting XRP.

According to a statement released by the exchange,

“Effective Wednesday, January 13, 2021, at 10 am EST, XRP will be delisted from Binance.US. XRP trading and deposits will be suspended.

Binance.US users will not be able to deposit XRP as of January 13, 2021, at 10 am EST. XRP withdrawals will not be affected at this time.”

The development didn’t come as a surprise to many. Coinbase and other exchanges have taken the same steps. A few days ago, Bitstamp announced halting all XRP trading and deposits for US Customers on its platform.

A statement from the exchange’s website read,

“In light of the recent SEC filing against Ripple Labs Inc., which alleges that XRP is a security, we are going to halt all trading and deposits of XRP for our US customers on January 8 2021 at 9 pm UTC.”

Bitstamp and Coinbase weren’t the only ones. As soon as the news of the lawsuit broke, OSL, Beaxy, and CrossTower also announced the suspension of all XRP trading services.

Bitwise has been quick to share its position on the subject after its Crypto Index Fund liquidated all of its XRP positions. Bitwise said that the fund “does not invest in assets that are reasonably likely to be deemed securities.”

Many will lose if XRP is delisted by crypto-exchanges that cater to Western audiences. It was highlighted by Ryan Selkis, who tweeted,

Leave a Comment

Leave a Reply