The listing of Ripple on Coinbase Pro is surely a controversial move. Yes, there are some fans of Ripple around the world (because any advertised product can get following), and this fact may seem to be a good excuse for making Ripple available on famous Cali exchange, but… do the companies really should act so carefree when it comes to the security questions of their customers? What makes the situation sadder is that in our age of informational manipulations when the companies are not ready to be transparent and care only about the public image we don’t even know if the adding of Ripple was an independent decision of the Coinbase owners or the rumors about Ripple paying Coinbase for listing are true.

Coinbase, Are You Serious?

Christine Sandler, Coinbase’s director of institutional sales, commented on the listing of Ripple with the following statement:

“There had been a groundswell of interest in adding the asset to the platform. There was some speculation about whether the asset would be classified as a security or not — we’re not securities lawyers. We felt there were compelling arguments on either side.”

The typical “official statement”, it means less than the very fact because the fact is that notorious centralized semi-cryptocurrency was added to one of the most notable exchange platforms. “Compelling arguments”? It seems that the most compelling argument was money they will receive for adding the coin which undermines the core idea of cryptocurrencies and decentralization.

First I wanted to compare it to letting the cat in the mice party, but actually, I’m not sure that Ripple is that dangerous and the rest currencies are that helpless. I believe that most people won’t let Coinbase fool them, but without a doubt this move is harmful. The only good side here is that this situation revealed the real values of this platform. They value dollars, not crypto.

Ripple listing is another awesome step of Coinbase right after the scandal around their collaboration with Neutrino that allegedly had ties with authoritarian governments. That’s nice!

Ripple Has Troubles Right Now

Currently, Ripple is facing a class action lawsuit against the company. The plaintiffs claim that Ripple violated both the Securities Act and the California Corporations Code. The case is associated with another infamous name of USDT or Tether. The stablecoin that appears to be so unstable that one of the plaintiffs lost over $500 just buying some USDT and selling the same amount a couple of weeks later.

The creation of stable coins is an attractive idea considering the fact that cryptocurrencies rejected by many only because of volatility, but I think it’s crazy to trust this mission to the people form Ripple who has a long history of betraying the core ideas behind the cryptocurrencies.

The lawsuit itself is not enough to find anyone guilty before the decision of the court, but we have enough evidence to say that Ripple is not something that is needed for the crypto community. The alliance with Coinbase is an important step for Ripple because this coin is having bad times. This coin gained huge traction in the past because it boasted a really high speed. Now the market offers new projects (such as EOS, for example) that have better scalability, wider functionality, and better decentralization + these projects are made for people, not for corporations. It seems that such an outdated project as Ripple only can hope to bond with other conservative rich companies in order to keep a place under the Sun for an extra couple of years.