Core items:
- Crypto lawyer Bill Morgan shares his opinion on Ripple’s decision to ban XRP from the Liquidity Hub.
- Ripple recently released its crypto liquidity API solution for its On Demand Liquidity (ODL) customers.
- Assets on Liquidity Hub included BTC, ETH, LTC, etc. but did not name XRP.
Crypto attorney Bill Morgan recently took to Twitter to share his thoughts on the recent controversy surrounding Ripple’s Liquidity Hub product. The controversy began after a crypto influencer took to Twitter to draw attention to Ripple’s newly unveiled Liquidity Hub, which was being marketed as the company’s B2B Crypto Liquidity API Solution.
The influencer claimed that Ripple’s general manager stated back in 2021 that the company’s Liquidity Hub product would “start with XRP, BTC, ETH, BCH, LTC and ETC (varies by jurisdiction)”. However, Ripple’s press release announcing LH made no mention of XRP. The influencer raised the question of a possible settlement agreement given the company’s ongoing legal battle with the US Securities and Exchange Commission (SEC).
The tweet gained significant traction, after which the XRP community began demanding responses from Ripple and its Chief Technology Officer, David Schwartz. “Someone from @Ripple needs to explain why $XRP was removed from the Liquidity Hub product while other assets remain as shown below. Not trying to implement FUD but this needs to be sorted out,” tweeted one user.
Bill Morgan responded to one such tweet, highlighting the fact that Ripple’s on-demand liquidity (ODL) sales have been limited to its ODL customers since May 2020. However, the new Liquidity Hub was not limited to ODL customers or cross-border payment users. Morgan suggested that LH might need deeper liquidity pools than an asset like XRP could offer.
Ripple has since modified its Liquidity Hub announcement to address concerns about XRP being excluded from the asset list. “XRP will be evaluated alongside other tokens for support within the product. We look forward to supporting XRP as it receives regulatory clarity in the US,” reads the recent announcement.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.