Saturday, February 4, 2023
HomeCrypto NewsCoinbase Confirms Distribution of FLR Tokens to XRP Holders

Coinbase Confirms Distribution of FLR Tokens to XRP Holders

- Advertisement -

Coinbase, based in San Francisco, has reiterated its commitment to support the upcoming airdrop of Flare Network tokens (FLR). Coinbase stated in a tweet yesterday that it would honor its previous commitment to its customers by supporting the distribution of FLR to users who held XRP at the time of the snapshot, December 12, 2020, at 00:00.

Coinbase stated in the announcement that it would support FLR distribution to beneficiaries in the first half of next year.

“Customers on http://Coinbase.com simple & advanced trade & @CoinbaseExch in approved jurisdictions which held XRP on the snapshot date of Dec. 12, 2020, at 00:00 UTC will qualify to receive FLR tokens.”

The exchange also stated that it could not guarantee support for any particular jurisdiction. According to the announcement, the FLR airdrop will only be available to Coinbase users living in supported jurisdictions. Coinbase users in Germany, Singapore, Coinbase, Japan, and New York, on the other hand, will be exempt.

Flare Reaction

The Flare network and community thanked Coinbase.

Read Also: XRP Now SaitaSwap “Most Anticipated Listing”

The CEO of Flare Network Slams the Coinbase Team

The announcement comes a week after Flare Network CEO Hugo Philion revealed that Coinbase has yet to respond to FLR distribution inquiries. Philion revealed on December 6 that Flare Network had received no response from Coinbase regarding its offer to assist the exchange in distributing the tokens to XRP holders.

As previously reported, the long-awaited FLR airdrop is set to take place on January 9, 2023. Even though the FLR airdrop distribution date has been set, the Flare Network team wishes to confirm the exchanges’ readiness for token distribution.

Philion is eager to have Coinbase distribute FLR tokens because the exchange appears to have issues with Flare Network token distribution. While other exchanges have distributed Songbird (SGB), Flare Network’s testnet tokens, Coinbase has yet to distribute the crypto assets to XRP holders who qualify for the airdrop. The exchange has not stated why the token distribution has been delayed for over a year.

“Wait… Coinbase didn’t give XRP holders their Songbird SGB token distribution? Uncle brian_armstrong, WHAT’S THE DEAL?!” BitBoy tweeted last month.

Related Article: Coinbase Pro Denies Ripple Re-listing Rumors, XRP Price Decreases 10%

Flare Is Prepared for FLR Airdrop

Meanwhile, Flare Network is committed to distributing FLR on the scheduled date of January 9, 2023. The company recently showed a willingness to distribute the tokens to XRP holders by publishing a list of exchanges supporting the FLR airdrop. According to the list, 25 crypto exchanges, including Binance and Bithumb, have confirmed their support for the FLR airdrop, while 12 exchanges, including Coinbase and Binance.US, have not.

- Advertisement -
RELATED ARTICLES
- Advertisment -spot_imgspot_img

Most Popular