Kraken's Founder Accused of XRP Hostility, Responded by Ripple's CTO
In the world of cryptocurrencies, the legal landscape continues to evolve, with Ripple and XRP remaining at the centre of much discussion.
Jesse Powell, co-founder of Kraken, has been vocal about the legal ambiguity surrounding XRP for years. Despite rumours, Powell does not harbour personal animosity towards Ripple or XRP. Instead, Kraken's decisions regarding XRP trading were influenced by legal risk considerations. This clarification was made by Ripple CTO David Schwartz, who stated that Powell never hated XRP but delisted it from Kraken due to regulatory concerns.
Historically, Kraken under Powell’s leadership delisted XRP during ongoing regulatory uncertainties surrounding Ripple’s legal standing in the United States. This cautious approach to compliance and risk management reflects Kraken’s broader strategy to mitigate legal exposure, especially amid debates over the classification of XRP.
Elsewhere, Kraken is reportedly aiming for a $15 billion IPO valuation, with a funding round expected to close by the end of the year. If successful, this funding round could revive IPO plans that were shelved after Coinbase's turbulent debut.
Meanwhile, the potential listing of an XRP exchange-traded fund (ETF) has been met with some uncertainty. Reports suggest that the Securities and Exchange Commission (SEC) may postpone its decision on the proposed XRP ETF, leaving investors in limbo.
On a separate note, Ripple's legal battle with the SEC seems to be reaching a resolution. The ongoing lawsuit between the two parties has been a significant factor in the uncertainty surrounding XRP. However, recent developments suggest that the lawsuit might finally be coming to an end.
In other news, a significant amount of Dogecoin, approximately 200,000,000 DOGE, has been drained from Robinhood, leading to speculation about the reasons behind this massive withdrawal.
As always, stay tuned for the latest developments in the ever-evolving world of cryptocurrencies.
- The legal ambiguity surrounding XRP has influenced Kraken's decisions regarding crypto trading, with the exchange delisting XRP during regulatory uncertainties surrounding Ripple's legal standing in the United States.
- Kraken aims for a funding round valued at $15 billion, which, if successful, could revive IPO plans affected by Coinbase's turbulent debut in the finance industry.
- Meanwhile, the potential listing of an XRP exchange-traded fund (ETF) has been met with uncertainty, as reports suggest that the Securities and Exchange Commission (SEC) may postpone its decision on the proposed XRP ETF, leaving investors in limbo.
- Ripple's legal battle with the SEC seems to be reaching a resolution, with recent developments suggesting that the lawsuit might finally be coming to an end, potentially bringing clarity to the uncertain legal landscape of XRP in the world of cryptocurrencies.
