Coinbase Completes Airdrop Distribution of Flare (FLR) Tokens
On April 16th, Coinbase Asset announced on social media that Coinbase has completed the airdrop distribution of Flare (FLR) tokens, with over 601 million Flare (FLR) tokens distrib
On April 16th, Coinbase Asset announced on social media that Coinbase has completed the airdrop distribution of Flare (FLR) tokens, with over 601 million Flare (FLR) tokens distributed to eligible users. This airdrop is based on the XRP balance held by Coinbase users on December 12, 2020 (including Coinbase Exchange and Coinbase Pro accounts). Currently, XRP transactions are still suspended on the Coinbase platform. Coinbase Chief Legal Officer Paul Grewal previously stated that Ripple can only relist on the platform after obtaining regulatory clarity after a lawsuit ruling with the US Securities and Exchange Commission.
Coinbase: Flare (FLR) airdrop distribution completed
Coinbase Asset made an announcement on social media on April 16th, 2021, stating that the airdrop distribution of Flare (FLR) tokens has been completed. Over 601 million Flare (FLR) tokens have been distributed to eligible users. This airdrop was based on the XRP balance held by Coinbase users on December 12, 2020 (including Coinbase Exchange and Coinbase Pro accounts). Currently, XRP transactions are still suspended on the Coinbase platform. Coinbase Chief Legal Officer Paul Grewal previously stated that Ripple can only relist on the platform after obtaining regulatory clarity after a lawsuit ruling with the US Securities and Exchange Commission.
The Distribution of Flare (FLR) Tokens
The airdrop distribution of Flare (FLR) tokens has been completed by Coinbase Asset. Eligible users were rewarded based on the XRP balance they held on Coinbase accounts on December 12th, 2020. This airdrop has resulted in the distribution of over 601 million Flare (FLR) tokens. Users who were eligible for the airdrop have received their tokens already.
XRP Transactions Still Suspended on Coinbase
Coinbase users are still unable to conduct XRP transactions on the platform. This is because of ongoing legal proceedings between Ripple and the US Securities and Exchange Commission. Coinbase Chief Legal Officer, Paul Grewal has stated that Ripple can only be relisted on the platform when they obtain regulatory clarity after the lawsuit ruling with the US Securities and Exchange Commission.
The Future of XRP Transactions on Coinbase
Coinbase users are unable to use XRP on the platform currently. However, if Ripple wins the lawsuit with the US Securities and Exchange Commission, they may be able to relist on Coinbase. In the meantime, Coinbase users can use other cryptocurrencies on the platform for their transactions.
The Impact of the Flare (FLR) Tokens Airdrop on Users
The airdrop of Flare (FLR) tokens is a reward for eligible users on the Coinbase platform. This has resulted in the distribution of over 601 million Flare (FLR) tokens. These tokens can be used by users to conduct transactions on the platform. This airdrop has enabled eligible users to gain access to a new cryptocurrency without having to purchase it directly.
Benefits of Holding Cryptocurrency
Holding cryptocurrency has many benefits for users. Cryptocurrency is decentralized, meaning it operates independently of any central authority. This leads to lower transaction costs and greater security for the user. Cryptocurrency can also be used as an investment asset. As the value of cryptocurrencies fluctuates, users can make profits by buying low and selling high.
Conclusion
Coinbase Asset has completed the distribution of Flare (FLR) tokens to eligible users based on their XRP balance on December 12th, 2020. XRP transactions are still suspended on Coinbase due to ongoing legal proceedings between Ripple and the US Securities and Exchange Commission. The airdrop of Flare (FLR) tokens enables users to access a new cryptocurrency and gain benefits from holding cryptocurrency.
FAQs
**Q: Can users use XRP on Coinbase currently?**
A: No, XRP transactions are currently suspended on Coinbase due to ongoing legal proceedings between Ripple and the US Securities and Exchange Commission.
**Q: How was the airdrop of Flare (FLR) tokens conducted?**
A: The airdrop of Flare (FLR) tokens was conducted based on the XRP balance held by Coinbase users on December 12th, 2020.
**Q: What are the benefits of holding cryptocurrency?**
A: Cryptocurrency is decentralized, which means it operates independently of any central authority. This leads to lower transaction costs and greater security for the user. Cryptocurrency can also be used as an investment asset.
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