Coinbase recently released a list of 50 cryptocurrencies that it might list during Q2 this year. Consequently, the prices of some of these listed crypto offerings have skyrocketed within the last 24 hours. But many renowned personalities in the digital currency industry have expressed fury at the virtual currency exchange for choosing little-known tokens.
New List of Expected Tokens on Coinbase Triggers Fury
Coinbase, a top American crypto exchange, released a lineup of virtual currencies that it’s considering listing between April and June this year. Some of the tokens on the recently released list include five SOL blockchain offerings and forty-five ETH-related offerings.
According to the exchange, it publicized the new list to aid better openness and information circulation. Moreover, the virtual assets’ exchange firm reportedly says it seeks to reduce the frequency of “rising and falling” new tokens on its exchange.
However, despite the exchange’s professed wish to promote openness and reduce the instability of new tokens, some enlisted products’ prices are already skyrocketing. Examples of such offerings include Radar, Big Data Protocol, and ArcBlock. Big Data Protocol reportedly rose by more than 184% after the list went public.
Twitter Enthusiasts Express Rage
One of the notable critics of the new list by Coinbase was Jordan Fish. Jordan accused the firm of putting up tokens, some of which, he opined, had died for over a year.
Jordan Fish recollected that Polkamon, one of the listed offerings, had a history of having its earlier supporters sell their stakes within seven days of holding. Moreover, he criticized Big Data Protocol for containing a bug that wouldn’t allow clients to get their bonuses.
Many Twitter users observed that the exchange hadn’t selected more popular offerings like Ripple (XRP) and Fantom (FTM). Others compared the list to a joke on April 1st, sarcastically expressing their shock at the exchange’s pickings.
Ripple Wins Case against Hinman’s Speech, Takes a Hike
In a recent development regarding XRP tokens, Ripple won its case against a speech by Hinman, a former senior staff at the Securities and Exchange Commission. The court ruled that Hinman’s statements weren’t equivalent to agency regulation.
Hinman made a speech in 2018 where he spoke against coin hikes. However, the court’s latest ruling provides answers to a question many had been asking for years. “Are public statements of SEC regulators equivalent to a guideline?”
The court ruled that Hinman’s speech didn’t imply a regulatory measure to the delight of XRP enthusiasts. Moreover, the SEC had admitted in court that Hinman’s statements were an offshoot of his personal views. Also, the court said it would not allow the SEC wanted to “eat its cake and have it,” insisting that the SEC could not uphold Hinman’s “private” statements.
For XRP enthusiasts, the court ruling could be a reason to throw a party as it means the token could see hikes whenever the owners wanted. However, the court allowed the Securities and Exchange Commission to file an objection to the ruling.
In the meanwhile, XRP has been showing bullish sides on different ends. It upturned SOL into the sixth-largest virtual asset based on market capitalization.