Crypto trading firm B2C2 has stopped XRP trading with US counterparties, according to reports.
Crypto news outlet The Block yesterday reported that the London-based company confirmed it would stop providing its US clients with XRP.
Decrypt has reached out to the firm to confirm the news. B2C2 is a large trading company that helps brokerages, exchanges and fund managers make cryptocurrency transactions.
An array of niche cryptocurrencies have collapsed in price following the news that Ripple is embroiled in a regulatory battle with the SEC over XRP.
Cryptocurrencies other than Bitcoin are typically referred to as "alt coins," and many of these assets are susceptible to being pulled up or down by major market movements. XRP's price got cut in half following the SEC's announcement of action against Ripple, and many other alt coins are feeling the burn, too.
Take HEDG, the coin that powers Hedge...
B2C2 is the latest company to distance itself from XRP, the fourth-largest cryptocurrency by market cap, since the company associated with the asset, Ripple Labs, got hit with a $1.3 billion lawsuit.
The US Securities and Exchange Commission (SEC) on Tuesday filed a lawsuit against the company, alleging that it had raised $1.3 billion in unregistered securities offerings since 2013.
SEC charges Ripple and two executives with conducting $1.3 billion unregistered securities offering https://t.co/3VP23RpSyV
Since then, XRP has suffered: its price has sunk; its market dominance has dipped; and a number of exchanges don’t want anything to do with the asset. Bitstamp is by far the biggest exchange to distance itself from XRP—on Friday it announced US customers would not be able to trade the currency.
At the time of writing, XRP’s price was trading at $0.289651, a fall of 5.27% in 24 hours, according to CoinMarketCap.
Business intelligence software company Strategy, formerly known as MicroStrategy, signaled on Monday that it did not buy the latest dip in Bitcoin’s price.
In a Securities and Exchange Commission filing, Strategy stated that its holdings of 499,096 Bitcoin, worth $44 billion, remained unchanged amid chaotic price action last week.
Since the firm began buying Bitcoin under the leadership of co-founder and Executive Chairman Michael Saylor, Strategy has amassed the world’s largest corporate stockp...
Binance, the biggest centralized crypto exchange in the world, will delist nine stablecoins for those in the European Economic Area (EEA), including coins issued by Tether, as they are not compliant with the EU’s Markets in Crypto Assets (MiCA) regulations.
Starting March 31, the assets affected will be USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG, the crypto exchange said in an announcment. Binance will continue to allow anyone to withdraw or deposit these coins but encourages EEA use...
Crypto investment products have seen unprecedented capital flight in recent days, with record outflows totaling $3.8 billion over three consecutive weeks.
The exodus intensified last week with $2.9 billion withdrawn from digital asset funds, marking the largest weekly outflow on record, according to CoinShares' latest Digital Asset Fund Flows report published Monday.
CoinShares head of research James Butterfill cited several factors as contributing to the trend, including, “the recent Bybit hack...