Coinbase Regulatory Uncertainty Claim

On April 5th, CNBC Fast Money yet again hosted a segment with the Coinbase president and COO, Asiff Hirji, and they decided to post on twitter that he had a 'major announcement' which again turned out to be a disappointment to the XRP community.

The 'major announcement' was a new venture fund which may actually invest in competitors to their own exchange. Asiff Hirji went on to state "We will invest in companies that are in the space and are aligned with our values." Ultimately, it seems they want to invest in start up projects within the cryptocurrency space to bring growth and innovation to blockchain technology.

During the CNBC Fast Money segment the host asks the Coinbase President and COO, "so all of the other coins that are not listed currently, you think there is regulatory uncertainty with." Asiff Hirji responds by saying that statement is correct, but my concern is that how would a currency like XRP that works with banks and payment providers not have regulatory clarity? Ripple is actually compliant with all banking regulations. Since they plan to add erc20 tokens in the next coming months. Do they think that tokens built on the Ethereum blockchain that have only been available to the public for a couple weeks has more regulatory clarity and certainty than a company (Ripple) that have been around for years and working with banks?

I believe there is something going on behind the scenes at Coinbase and has to do with a deeper reason why they won't list XRP. It's been requested so many times by the XRP community and on every single Coinbase tweet, 90% of the replies have to do with XRP being listed. There is even a petition to add XRP to Coinbase that has over 27,000 petitioners. Many new exchanges are all of the sudden adding XRP almost every week. There is clearly a demand for XRP to be listed on Coinbase. So the only explanation to this is that there is a hidden reason as to why they won't list XRP.

Bloomberg Spreading False Information

Yesterday an article was released by Bloomberg which is titled "Ripple Has Tried to Buy Its Way Onto Major Exchanges for Cryptocurrency." So i proceed to read the article and the theme is that ripple is trying to 'bribe' exchanges to list its currency. First, it is very common for exchanges to have some sort of listing fee for there currency because the exchange knows that the currency will see an influx in trading volume. So there is nothing wrong with that. Second, the article states that they are basing there article on, "four people with direct knowledge of the matter, who asked not to be identified discussing private information." Yes that is the exact quote, people who claim to have knowledge but also asked to not be identified. Where is the credibility here?

So i decide to search the name of 1 of the 3 authors to find his Twitter account. Here's what I found(link to original tweet in Sources Section). "What history? The fact that @EddieRob235 and I pointed out not one bank is using XRP? If you know differently please provide a link." So from this tweet that was posted recently we can clearly see he is apart of the anti-XRP agenda. I wouldn't trust a single statement from that article

Conclusion

I want to end this off by saying that you shouldn't believe anything you read online. always do your own digging and find out the truth.

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Sources

1. CNBC Fast Money Segment: https://www.youtube.com/watch?v=d9E9VlWkbjI

2. Coinbase Petition https://www.change.org/p/ripple-get-ripple-on-coinbase-4ee0a1b7-9be1-4947-9fa2-f96e2fb38bd0

3. Bloomberg Author twitter post https://twitter.com/mattleising/status/981656064255905792