Coinbase to suspend trading in XRP

The move by San Francisco-based Coinbase comes as the firm is preparing for a stock market listing
Reuters | December 30, 2020

PHOTO: REUTERS

BENGALURU:

Cryptocurrency exchange Coinbase Inc said on Monday it would suspend trading in cryptocurrency XRP after US regulators last week charged associated blockchain firm Ripple with conducting a $1.3 billion unregistered securities offering.

The move by San Francisco-based Coinbase comes as the firm is preparing for a stock market listing and has confidentially applied with the US Securities and Exchange Commission to go public. It would be the first major US crypto exchange to list on the stock market. Coinbase said trading in XRP moved into limit only from 2:30 pm Pacific time on Monday, and would be fully suspended on January 19 at 10 am.

Published in The Express Tribune, December 30th, 2020.

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