Binance Never Delisted XRP During Ripple Lawsuit, CZ Comments

Binance founder Changpeng Zhao (CZ) has revealed that his exchange allowed users to buy, hold, and sell XRP tokens amid the Ripple-SEC case. CZ’s latest comments come as Ripple eyes a resolution to the case while institutional interest in XRPL heats up.

Binance Did Not Delist XRP, Says Changpeng Zhao

As Ripple signals a close to the lengthy saga with the Securities and Exchange Commission (SEC), Changpeng Zhao has confirmed long-term support for XRP. The Binance founder revealed in an X post that the exchange did not limit users from trading XRP throughout the case.

CZ reiterated his support for XRP after Brad Garlinghouse disclosed that Ripple will drop its cross-appeal against the SEC. He clarified that Binance never delisted XRP, allowing traders to interact with the beleaguered token over the three-and-a-half-year duration of the case.

Back in December 2020, the SEC instituted legal action against Ripple for allegedly selling unregistered securities. To avoid trouble from the securities regulator, several exchanges, including Coinbase and Bittrex, delisted XRP. US customers of Kraken, Bitstamp, and e-Toro did not have access to the token, with Binance.US also delisting XRP.

However, after Ripple’s partial win against the SEC that legalized XRP sales on public exchanges, a handful of service providers relisted the asset. Despite the back-and-forth in court, the global arm of Binance still supported XRP trading.

For starters, Binance.com operates outside US jurisdiction, making it immune to SEC pressure to delist. Furthermore, volume and trading fees from XRP contribute a chunk to Binance’s revenue, providing additional incentive to allow trading.

Ripple Attracts A Wave Of Institutional Interest

Apart from Binance’s long-term interest, a wave of institutional players has signaled interest in Ripple. Ondo Finance and Guggenheim are leaning on XRPL to roll out tokenized offerings for users amid a raft of blockchain upgrades.

As Ripple waits for the SEC to drop its appeal, CEO Brad Garlinghouse says the company will shift its focus away from litigation to innovation. Ripple is forging ahead with its stablecoin, minting 12 million RLUSD, but the future of institutional XRP sales hangs in the balance.

“We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value,” said Garlinghouse.

XRP price is up nearly 4% over the last day to trade at a respectable $2.19, buoyed by Binance and Garlinghouse’s decision to innovate. After Judge Analisa Torres refused the joint motion for an indicative ruling, the XRP price fell by 4%.