Ripple's XRP scrambles to get listed on Gemini

Ripple’s XRP scrambles to get listed on Gemini, Coinbase: report

As the cryptocurrency market continues to take a hit with values plummeting by around 80% of their worth since January, Ripple’s XRP coin is struggling to get listed on two major exchanges in the United States, according to a NewsBTC report.

XRP has been consistently touted as a “crucial link” between banks and the innovative cryptocurrency market. It is supposedly designed for maximum speed and efficiency, but its value has slumped disastrously in recent weeks with its value currently at below the $0.50 mark.

The news outlet quoted a source who claimed there was an attempt by Ripple executives to persuade Gemini to list the currency in the third quarter of 2017. The sum of $1 million was also allegedly offered. However, this bid was deemed unsuccessful. Further attempts were also made to list the currency on Gemini with a payment rebate structure and the payment of costs, but they also came to nothing.

Talks with Coinbase also hit a snag with Ripple coming out with a huge offer of $100 million in XRP coins to allow traders to start trading in the asset, according to the report. Although Ripple even offered to pay back the loan in the coin or in dollars, where the exchange would have profited if the price rose upon listing. In the end, however,  Coinbase decided not to list the currency

Currently, clients of Coinbase and Gemini exchanges can only trade in Segwit-Coin BTC (inaccurately referred to as Bitcoin Legacy or Core by many) and Ethereum. Coinbase also offers trading in Bitcoin Cash and Litecoin. Gemini’s founders, the Winklevoss brothers, indicated that they might be offering trading on Bitcoin Cash and Litecoin in the not too distant future.

Incidents of cryptocurrencies paying to be listed on exchanges were not unusual, according to an Autonomous Research report, which noted that costs could reach up to $3 million “for an opportunity to get quick liquidity.”

What could complicate matters is if the digital token that seeks to be listed is later deemed to be an unregistered security, the report quoted Clifford Chance lawyer Jesse Overall saying. Ripple’s rise in price in the past had been linked to rumours that it would be listed on U.S. exchanges but when this came to nothing, the price tanked badly and has not shown any sign of recovery since.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.


Gemini adds Bitcoin Cash (BCH)

Gemini adds Bitcoin BCH, LTC pairs—futures trading coming soon?

The Winklevoss twins are going all in despite dropping trade values and looming regulation—which they actually applaud.

Bitcoin billionaires Tyler and Cameron Winklevoss, also known as the “Winklevoss twins” who sued Mark Zuckerberg over allegations of stealing their idea for Facebook, have announced that they are prioritizing the addition of more cryptocurrencies to Gemini exchange this year, with Bitcoin Cash (BCH) and Litecoin (LTC) on the top of the list being “from the Satoshi Nakamoto family tree,” according to Tyler Winklevoss.

This aligns with Cboe Global Markets’ earlier plan to add more cryptocurrencies to their futures trading platform—which exclusively receives trading data feed from Gemini, founded by the Winklevoss twins in 2015. Gemini’s move to add Bitcoin Cash and Litecoin could be a pre-cursor to this plan, which means BCH and LTC may be available in their futures contracts soon. Last year, Cboe launched futures trading for BTC—a move that was largely seen as one of the main reasons behind BTC’s huge leap in value.

Despite cryptocurrencies suffering a low and very red first quarter for 2018, the twins remain unfazed by the blanket of fear currently looming over the cryptotrading industry. “In 2018, you’re really going to see institutions and Wall Street really get in, and it’s going to look very different,” Tyler Winklevoss said.  Despite regulatory pressure, they remain positive about the future of cryptocurrencies and they in fact, even applauded the SEC’s statement that cryptocurrency exchanges should register either as regulated national securities exchanges, or an alternate trading system (ATS).

“We applaud the SEC’s statement,” Gemini President Cameron Winklevoss said in a statement. “The trading of ICO tokens that are unregistered securities on unlicensed exchanges has gone on for far too long. This is dangerous for consumers and bad for the cryptocurrency ecosystem as whole.”

They are not alone in welcoming regulation with open arms. Throughout the years, the cryptocurrency trading industry has suffered some of its biggest drops due to crime and scams—whether instigated by ill-intentioned groups posing as legitimate projects, or by cybercriminals taking advantage of the internet’s veil of anonymity. While heavy-handed regulation is largely frowned upon, it’s not unreasonable for investors and consumers to look for a certain level of protection before buying in. Some argue that the lack of protection through regulation is, in fact, what’s keeping cryptocurrencies from going full-on mainstream.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.