The cryptocurrency platform Gatehub announced its support for the XRP token until a final decision is reached in the SEC lawsuit.
Representatives of the platform said they had decided to continue listing XRP after a “thorough review” of the SEC’s allegations against Ripple. In their view, the token is not a security, and its value is based on its use in payments.
“We have not personally witnessed any improper market conduct by Ripple Labs or its leadership,” Gatehub said.
In December 2020 the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen. The agency contends that over seven years the company sold unregistered securities in the form of tokens and raised $1.3 billion over that period.
Earlier, exchanges Bitstamp, Binance US, Galaxy Digital and Jump Trading halted XRP trading. OKCoin and Coinbase announced the halt in XRP trading.
In January, the crypto-friendly investment platform eToro urged US clients to close positions in XRP.
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