@Today 7 March 2021 more from that month

XRP Presents "Huge" Risk to Exchanges, Says Kraken CEO Jesse Powell, the CEO of cryptocurrency exchange Kraken, has addressed criticism surrounding halting XRP trading, claiming that the token presents a “huge asymmetrical risk” for exchanges after affiliated blockchain company Ripple got sued by the U.S. Securities and Exchange Commission in late December. Powell claims that judges tend to side with regulatory agencies: Have to assume SEC's case is in good faith. Judges tend to side with agencies. If XRP found to be a security, SEC would say that exchanges should have known. In the past few months, almost all major American exchanges, including Coinbase and Binance U.S., have halted XRP trading or delisted it. Kraken—whose valuation is reportedly close to $20 billion—also suspended XRP trading in mid-January. Yet, the token is still available on many major exchanges for trading outside the U.S.