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XRP receives official support from Coinbase Custody; Ripple logo represents the coin

Priyamvada Singh

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XRP receives official support from Coinbase Custody; Ripple logo represents the coin
Source: Pixabay

Coinbase, the largest platform for cryptocurrency trading and other related services in the US has officially added XRP under supported assets for Coinbase Custody. However, despite Ripple, the blockchain remittance firm that created XRP, attempting to dissociate itself from XRP for the sake of decentralization, Coinbase has kept Ripple’s logo to represent the coin on its official website.

During the last week of October, there was a buzz around the cryptocurrency space as the Department of Financial Services [DFS] of the United States announced its support for Coinbase to operate as a crypto-custody.

After Coinbase received approval from DFS, it revealed the name of six big coins that would be added to its Coinbase Custody Trust Company program. The list comprised of Bitcoin [BTC], Bitcoin Cash [BTC], Litecoin [LTC], XRP, Ethereum [ETH] and Ethereum Classic [ETC].

Despite being one of the coins to make the cut for custody services, XRP has still not acquired a listing on the trading platform of Coinbase. Moreover, all the other five cryptocurrencies already continue to trade on the exchange.

Skypilot_crypto, an XRP investor and cryptocurrency space enthusiast on the news stated:



“Even though I do hope coinbase list xrp, when they eventually do I still won’t buy my xrp through coinbase. Why would I when I’ve been buying it through others all this time anyway? What would be the point? If Only They listed it sooner. Timing is everything and they are late”

C3|Nik, the Twitter handle of another cryptocurrency and blockchain space follower also tweeted:

“XRP is officially listed as a supported asset on Coinbase Custody.
That does not imply trading support in the normal Coinbase App though.”

On Coinbase using Ripple Labs logo, Michael Nardolillo, an XRP fan, stated:

“With the wrong symbol lmao”





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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