eToro and CEX Suspend Trading for US Customers; Grayscale Buys 3.23 Million XRP

eToro, the social trading, and multi-asset brokerage company is the latest one to suspend XRP trading. The crypto-friendly firm will suspend trading on Jan. 3 for its US customers who will have until Jan. 24 to sell their XRP holdings.

Cryptocurrency exchange CEX, which manages about $11 million in volume also announced on Thursday that they will be delisting XRP for its US customers.

XRP XRP 0.90% XRP / USD XRPUSD $ 0.42
Volume 1.59 b Change $0.00 Open $0.42 Circulating 48.34 b Market Cap 20.27 b
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trading and deposits will be halted on Jan. 14, 2021, while any open orders will be canceled a week after on Jan 21.

“XRP withdrawals are available,” stated the exchange adding that users from other countries are not affected.

Meanwhile, the reports of Grayscale selling a good 25% of its XRP holdings have been quashed by the company as it denied any such “large sales of underlying assets.”

As we reported the data from ByBt showed that Grayscale Investments’ sold 9.19 million XRP but now it shows that Grayscale’s XRP holdings have rather surged to 38.88 million as of Jan 1st, 2021 — an increase of 3.23 million XRP from Dec. 29.

Grayscale Investments XRP Holdings

Source: – Grayscale Investments XRP Holdings

Top exchanges like Binance, Bittrex, Bitstamp, and Coinbase have also discontinued XRP trading services for their US customers. Coinbase is also hit with a class-action lawsuit for allowing to trade XRP while knowing it was a security and profiting from the sale of the digital asset.

All these decisions have been made in the light of the recent Securities and Exchange Commission’s (SEC) action against Ripple Labs, Inc. The SEC alleges that Ripple and its two top executives, co-founder Charis Larsen and CEO Brad Garlinghouse sold unregistered security XRP.

The initial pretrial conference between both parties has been set for late February.

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