January 18, 2021

Cryptheory

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

Coinbase unwilling to participate in Spark’s airdrop

2 min read

  • Coinbase has remained silent about participating in Flare’s spark token. 
  • Some users could end up missing on free XRP tokens

Coinbase’s camp has been tumultuous over the past few weeks, from the removal of margin trading from its Pro platform, to the CEO’s tweet about a planned regulation on crypto wallets. 

However, a new development has gotten XRP traders talking as they have refused to join up in the imminent airdrop from Flare Network. 

Flare network have stated that Coinbase’s participation is highly unlikely. The addresses of all XRP users that would be benefiting from the airdrop will be made on the 12th of December.  By implication, it would be too late for the token’s support  to be enabled on their platform. 

Thus, Coinbase users will end up missing out on the free Ripple’s XRP token.

No airdrops for Coinbase and Kraken users.

XRP has been available on Coinbase since the second month of 2019. From that time, it has accumulated over $1.9 billion worth of token. 

However, its refusal to comment on the Spark airdrop suggests that some of its users might not know about it. Invariably, their users would miss out on the free tokens that Ripple holders are entitled to get at a ratio of 1:1. 

Flare Networks have specified that other users will be getting any token that’s unused. 

Other top Exchanges like Binance and Bitstamp have announced their participation in the distribution of the token already. 

Kraken seems to have followed in Coinbase’s footsteps at its support team posted on Twitter that they were not planning to support Flare Network’s airdrop. They advised their users to withdraw their coins and put them in wallets that they have control of. They also stated that they had no plans and are not obligated to credit anyone with airdrops that have or will occur. 

Source link

Leave a Reply

Your email address will not be published.