What's up, my crypto people! 🚀 Here’s a little gossip that just came out from none other than Changpeng Zhao (CZ), the head of Binance. Pay attention! While other exchanges turned their backs on XRP when the SEC came down on Ripple, Binance stood firm like an oak and never removed it from its list. Just as you hear it! 💪
Imagine the scene: the SEC (those people who always stick their nose in everything) filed a lawsuit against Ripple in December 2020, accusing them of selling unregistered securities. A serious matter! 🚨 At that time, a bunch of platforms, like Coinbase and Bittrex, got scared and turned their backs on XRP. Even Binance.US (the U.S. branch of Binance) removed it from their listings to avoid problems. It was as if XRP had the plague! 🦠
But what did Binance's global division do? No nerves! CZ just confirmed in a post on X (formerly Twitter) that Binance never prevented its users from buying, holding, or selling XRP during the entire three-and-a-half-year legal battle. A true endurance! 🏋️♂️
And why was Binance so loyal? Well, my people, the thing is that Binance.com operates outside of U.S. jurisdiction, which makes it immune to SEC pressures. So they didn't hesitate! Additionally, the trading volume and the fees from XRP brought them a good chunk of change. Business is business, and they know it at Binance! 💸
Now that Brad Garlinghouse, the CEO of Ripple, announced that they will withdraw their appeal and that the case is about to end (finally!), it seems that confidence in XRP is skyrocketing. In fact, the price of XRP has already recovered and is at $2.19, almost 4% up in the last day! 📈
Garlinghouse has already said that they will now focus on innovation and not on legal troubles. They want to build the 'Internet of Value', and they are already minting 12 million RLUSD, their own stablecoin. This looks good for the future of XRP and for the entire Ripple ecosystem! ✨
So, while some backed out, CZ and Binance showed they have the long-term vision and the strong backing to weather the storm. A lesson for everyone in the crypto world: sometimes, patience and conviction pay off! 😉$BNB $XRP
