Ripple CTO Addresses Claims of Payment for XRP Listing on Coinbase

David Schwartz

David Schwartz, the Chief Technology Officer of Ripple, recently addressed the allegations suggesting that Ripple made payments to Coinbase for the listing of XRP on its platform. These accusations initially surfaced in a Bloomberg report in 2018 and resurfaced once again following Judge Torres’ recent ruling in the ongoing Ripple vs. SEC case.

An anonymous individual, self-proclaimed as ScamDetective and known for being an on-chain scam detector, recently inquired about the amount Ripple allegedly paid Coinbase for the listing of XRP. While some individuals outrightly rejected the question as baseless, asserting that no payment was made, David Schwartz’s response sparked speculation as it left room for interpretation.

β€œThe story of Coinbase listing XRP is the only story I most wish I could tell that I can’t,” the CTO of Ripple replied. 

Schwartz’s response sparked reactions within the cryptocurrency community, but he has chosen not to disclose any additional details regarding the topic. Some advocates contend that Schwartz’s statement suggests the presence of a concealed narrative or undisclosed information pertaining to the listing of XRP on Coinbase.

The allegations surrounding Ripple’s payments to Coinbase and Gemini were initially reported by Bloomberg in an article published in April 2018. According to the article, anonymous sources claimed that Ripple offered $1 million to the Winklevoss twins, founders of Gemini exchange, for listing XRP. The report also alleged that Ripple offered Coinbase a sum of $100 million to list XRP.

Related article: SBI Japan Leveraging Ripple to Expand Into Web3 Business

The Resurface of Previous Claims

It is worth noting that in February 2019, Miguel Vias, who held the position of Ripple’s Head of XRP Markets at that time, definitively refuted these allegations when they resurfaced during that year.

In a tweet on February 27, 2019, Miguel Vias stated, “We are willing to state this publicly. Coinbase’s decision to list XRP (which is not ‘our token’) was entirely independent. We did not provide anything to influence their decision.”

Vias’ remarks were prompted by an email exchange involving Elliott Suthers, Coinbase’s Communication Director. Alistair Milner, the Chief Investment Officer of Altana Digital Currency Fund, inquired about the amount Ripple paid Coinbase for listing XRP. Suthers declined to disclose any information publicly or engage in an on-the-record discussion regarding the matter.

After Miguel Vias addressed and refuted the allegations, they had faded away. However, these claims resurfaced following Judge Torres’ recent rulings in the SEC case. Notably, as part of these rulings, the district judge rejected Ripple’s motion to keep the amount of compensation it offered to trade platforms for listing XRP confidential.

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