Published On: Sat, Apr 14th, 2018

Ripple Exec Says XRP is ‘Absolutely Not a Security’

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Following reports that popular US-based cryptocurrency exchanges Coinbase and Gemini turned down payments from Ripple to list the company’s XRP token, a top executive from the real-time gross settlement system, currency exchange, and remittance network has tried to set the record straight.
The third largest cryptocurrency by market capitalization, Ripple (XRP), is not a security — at least, not in the minds of its parent company.
In an interview with CNBC, Ripple’s chief market strategist, Cory Johnson, stated:
We absolutely are not a security. We don’t meet the standards for what a security is based on the history of court law.
Johnson’s statement follows reports from unidentified insiders that Ripple attempted to buy a spot on popular US-based cryptocurrency exchanges Gemini and Coinbase — either of which would’ve undoubtedly caused an increase in the token’s trading volume and valuation.

Those with knowledge of the situation claimed that a Ripple executive reportedly offered a $1 million cash payment to Gemini to list XRP, which preceded various other attempts to persuade the Winklevoss twins’ cryptocurrency exchange to list the third largest cryptocurrency by market capitalization — including offering to …

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