Home » Coinbase supports XRP’s Spark Airdrop

Coinbase supports XRP’s Spark Airdrop

by Brian Armstrong
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Recently Flare Networks called out Coinbase for not supporting its XRP airdrop, after which the leading US-based exchange has now announced participating in the Flare Networks XRP Spark airdrop.

With only six days left for the big event, Coinbase sparked a lot of furor amongst the users for not supporting the airdrop, due to which they would be bereaved of the free coins.

Coinbase’s last-minute participation in Flare Spark Airdrop

With less than a week left to the Flare Network airdrop event, the Snapshot of the XRP ledger for the FLR token distribution will happen on December 12th.

Coinbase announced in a blogpost that the various XRP holders on the Coinbase exchange would receive free Spark tokens. The Snapshot would be taken at 12:AA UTC on December 12th, “The amount of Spark you’ll receive depends on how much XRP you had in your account at the snapshot time,”

The Flare network had tweeted that it would be too late for Coinbase to participate in the event. Coinbase had not announced the participation until last week, which fumed the Coinbase XRP holders. Flare Network said that they would redistribute the remaining coins because the XRP users on Coinbase exchange would not receive the free Flare tokens. However, Flare thanked Coinbase after the announcement of participation.

Leading exchanges and wallets participating in the event

Many leading exchanges and wallets had announced participation in the event quite earlier after the event was announced. More than 50 exchanges from across the world have come onboard the airdrop event with Binance US, KuCoin, Binance, BitFinex, to name a few.

Recently Brad Garlinghouse, the CEO of Ripple Network, said that the company is not interested in letting Flare Network take the lead but wants to help. This hinted that the exchange is seemingly hesitant in taking part in the free token distribution for its users.

However, Coinbase joined the bandwagon with other exchanges and wallets at the last minute. The leading US exchange said that it supports the airdrop as it has been pivotal in boosting the price of Ripple tokens substantially.

XRP price has been rallying after the Flare XRP token airdrop announcement. Flare Networks native token Spark would be distributed to the XRP holders on the participating exchanges at the 1:1 ratio.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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