Since the US Securities and Stock Exchange Commission filed a lawsuit against Ripple on charges of illegal sale of securities, many analysts wonder what will happen next.
Despite the fact that Bitstamp, OSL, and Beaxy became one of the first to respond and freeze XRP trades, not everyone is in a hurry to follow their example. According to insider information, Coinbase is only ready to pause trading or to perform XRP delisting.
“According to some sources, the team is in a waiting mode, as the question remains open even after consultations with a lawyer” – noted the insider, adding that “the management sees great regulatory risks in this situation, especially in connection with the upcoming Initial Public Offering (IPO) of the company.”
This is not surprising, considering that Coinbase has already submitted pre-registration for the initial public offering. By the way, an IPO is the way by which the company becomes public. Messari claims that Coinbase can be estimated at about $28 billion, so the hesitance is quite understandable.
In addition, in the event that an unpopular solution is adopted, the consequences for Coinbase will be very serious, since more than 8% of its trade volume is used for XRP. In this way, not only the cost of XRP will be affected.
To make a case about how the restrictions on XRP transactions will affect the overall trade value of crypto exchanges, consider these data:
XRP trading volumes on Bitstamp are 18%;
Coinbase – 8%;
Kraken – 5.5%;
Binance – 4%.
