HomeCrypto NewsMarket'Radio Silence' As Coinbase Team Yet To Respond On Flare Token Distribution For XRP Holders

‘Radio Silence’ As Coinbase Team Yet To Respond On Flare Token Distribution For XRP Holders


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Philion says the Coinbase team has refused to communicate with Flare Networks on FLR token distribution.

Flare Networks CEO Hugo Philion disclosed in a tweet yesterday that Coinbase is not responding to Flare Networks’ inquiries about the distribution of FLR to Coinbase customers holding XRP.

Calling the attention of Coinbase chief Brian Armstrong, Philion disclosed that Flare wants to help with the distribution of tokens to customers as agreed and is willing to dedicate as many persons as necessary to achieve it.

Per previous reports, Flare has scheduled the token distribution event for Jan 9th, 2023. Consequently, central exchange partners must confirm readiness with about a month left. 

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Notably, the Flare Networks’ chief discloses that they have not received a response from Coinbase over the last ten days. However, he has resolved to ensure that Flare tokens get to XRP holders on the agreed date. “Jan 9th, 2023, come hell or high water,” Philion tweeted in response to speculation that Coinbase may delay or entirely refuse to distribute the tokens.

As previously reported by The Crypto Basic, Flare Networks has released the list of exchanges supporting the airdrop. However, per the report, Coinbase is yet to confirm support. 

As highlighted by Philion, quoting a tweet from Coinbase, the exchange pledged support for the airdrop in December 2020 for holders of XRP on the exchange during the screenshot. 

However, the lack of communication from the crypto exchange is a cause for concern. It is worth noting that Coinbase, after a year, has still not distributed Songbird (SGB) to XRP holders with no explanation as to why. Bitboy, a crypto influencer, recently called out Coinbase for failing to distribute the token.

For context, SGB is the token for Flare Networks’ testnet. Flare, as with the FLR token, promised a token distribution to XRP holders at the time of the screenshot. Then the company noted it would send the SGB to the wallet provided for the FLR drop by central exchanges that indicated support for the FLR distribution.

Consequently, Flare distributed SGB tokens in September 2021. However, holders of XRP on Coinbase at the time of the screenshot are still yet to receive their tokens.

At press time, neither Brian Armstrong nor Coinbase has responded to Philion’s tweet. So it remains to be seen what options Flare Networks’ has should Coinbase refuse to cooperate.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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