Fresh scrutiny is once again falling on Coinbase over its decision to list XRP, as renewed allegations tied to trading fees and historical conduct trigger debate across the crypto industry.
The controversy traces to longstanding speculation about whether exchanges charge substantial fees for token listings, an issue that major platforms have historically denied or downplayed.
Back in 2023, Ripple CTO David Schwartz claimed that Coinbase had deliberately stalled on listing XRP despite its obvious market potential. He further claimed that the asset was allegedly held up for months because Ripple was reluctant to pay the listing fee that was requested by the exchange.
According to his report, the two companies reached an agreement after which the asset class was listed. At the moment, the same accusations against the exchange are springing up.
X users accuse Coinbase of pretending to support the crypto community
On X, crypto commenter Pumpius alluded to Schwartz’s earlier remarks, saying Coinbase asked Ripple for millions of dollars and that, when Ripple rejected the offer, it kept the token off the exchange. He added that once the two reached an agreement later and Coinbase listed XRP, the asset quickly accounted for 20% of platform revenue.
He called the episode “a classic pay-to-play shakedown in the ‘decentralised’ crypto world.” He further argued that, as much as the exchange claims to value community work, they’re only acting like a “protection racket” that forces projects to pay money; it’s nothing more than pretending to be interested in user welfare. He commented, “Coinbase talks a big game about supporting innovation and the community, but apparently, the community had to pay up first.”
Additionally, he raised broader concerns, questioning whether the exchange has been imposing similar fees on other providers and whether it is even clear how many more tokens are blocked from the platform due to a checkbook dispute.
Other X users supported his view, one even accused the exchange of extortion. Another user even suggested that Coinbase’s approach to the Clarity Act is simply a new form of pressure on XRP. The exchange has already withdrawn its support for the bill because of the added language that would likely limit stablecoin yields. CEO Brian Armstrong asserted that if it blocked stablecoin yields, it would hurt innovation and crypto users.
Currently, regulators classify XRP as a digital commodity rather than a security, clearing the way for more big banks and institutions to finally take it up. This March, the US SEC and CFTC included XRP among 16 assets, including Bitcoin, Ethereum, Solana, Cardano, and Dogecoin, in their jointly issued framework.
Coinbase published a guide explaining its token listing process
Last year, Coinbase also received several queries about its listing process after similar accusations surfaced that the exchange had asked for payments for token listings. Thus, the platform released a detailed manual of its listing process to reassure the community that they judge projects on their own merits, and that paying your way in isn’t a thing.
The framework described a five-part evaluation process, covering application intake, business assessment, and key reviews in legal, compliance, and technical security. The exchange wrote, “A Coinbase listing connects you to a platform with deep liquidity, a global customer base, and operational scale proven through market cycles – all within an environment built for trust, security, and consistency.”
The platform also stated the typical hurdles it faces, such as securities risk assessments tied to public disclosures and advertising. Nonetheless, it shared that due diligence usually takes about 1 week, with trading enabled within 2 weeks after approval, though more complex assets may require additional time. Coinbase already supports networks like Ethereum, BNB, Solana, Arbitrum, Optimism, Polygon, and Avalanche; tokens on these networks are reviewed faster than those that require new integrations.
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Source: https://www.cryptopolitan.com/coinbase-xrp-listing-scandal-resurfaces/
