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America's Biggest Exchange Announces Support for XRP Fork Flare

Sun, 12/06/2020 - 08:28
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Alex Dovbnya
Coinbase has made a last-minute decision to participate in the Spark airdrop
America's Biggest Exchange Announces Support for XRP Fork Flare
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Coinbase, the biggest U.S. cryptocurrency exchange, has announced its last-minute decision to participate in Flare Networks’ Spark airdrop with less than a week left until the event.      

More than 50 exchanges 

Over 50 exchanges have come on-board, with Coinbase and Binance.US, the American arm of Binance, being among the latest additions to the list. 

XRP Flare
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As reported by U.Today, the XRP community heaped scorn on Coinbase after Flare Networks announced that it would be too late for them to support the airdrop.

The reluctance of the number one U.S. exchange to take part in the distribution of the token even came up during a recent CNN interview with Ripple CEO Brad Garlinghouse who claimed that his company wasn’t participating in Flare Networks’ negotiations with exchanges:

“Certainly, we want to be supportive and helpful but we are letting them take the lead.”

Coinbase Reluctant to Support Flare's Spark Airdrop Despite Holding 3,000,000,000 XRP

Six days left 

Flare Networks managed to create the “first-of-its-kind” utility fork of the XRP cryptocurrency that brings smart contracts to the original chain via the integration of the Ethereum Virtual Machine.

The snapshot of the XRP Ledger for the upcoming distribution of Spark (FLR) tokens is scheduled for Dec. 12.  

In its blog post, Coinbase notes that Spark tokens may not be supported for distribution in some jurisdictions:

“Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions. We therefore cannot guarantee when or if Spark will be available for distribution in any specific jurisdiction at this time.”

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at