By Alexander Fred
Coinbase Listing and Emerging Controversy
XRP was recently listed on Coinbase Pro, with trading pairs against BTC, USD, and EUR. The listing thus far has had a very limited effect on the price. In the preceding days, the so-called “XRP Army” was responding to various accusations from all directions.
Questions and accusations of insider trading emerged. Furthermore, on Mar 1, an article by Jason Bloomberg in Forbes reported:
“The Ripple business model is a giant pump and dump scheme…[that] takes numerous steps to obscure this basic fact.”
With accusations of insider trading and allegations of pump and dump schemes now looming, Ripple’s reputation as a company is in jeopardy. While the XRP Army has contested the claims made by Bloomberg in Forbes, the news is still brewing.
Whether or not Ripple is using XRP to conduct pump and dump schemes is unknown. However, this graphic organizer created by Bloomberg does not appear to bode well for the company or the cryptocurrency:
