Well, this news article is bitter-sweet. Probably the hardest part of the Ripple vs SEC lawsuit is the countless people online crawling in our brains to make us second guess our investment. XRP holders seemed to be the only ones on the firing line and everyone was lining up to take their shot of “I told you so.” Many notable XRP holders warned the savage community that their turn was next, which was met by extreme doubt and disbelief – until now.
Multiple crypto exchanges rapidly announced the complete delisting of some of the largest private/anonymous cryptos. One of the most notable exchanges to participate in this delisting is Binance. Here is the letter they sent out:
It’s worth noting that these are legitimate delistings taking place. While XRP has simply been “suspended” by most exchanges. Being “suspended” is the lesser of two evils.
This situation is sweet because the people bashing Ripple and XRP over their lawsuit and suspension are now facing a similar reality. This is bitter because it shows that the massive titans of regulations have declared open war on crypto as a whole – which is good for no one. We are all peering into a deep cavern of the uncertainty of what is to come next. It goes without saying that no one is safe, not even Bitcoin (cough-cough Tether).
Probably the most uncomfortable aspect of this true mass delisting is that there is no clear explanation on why/who is forcing this to take place. We all know why governments would be likely be excited to obliterate these anonymous cryptos, but which government one?
You can see in the letter above that it states:
We are required to comply with these external regulations…
Scary times.
Crypto is either going to band together and fight against the common enemy of over regulation, or we are going to continue to cannibalize each other – doing the government’s work for them. I vote we put our tribalism and maximalism aside and unite. The regulators have fired up their war machine and without unity, I am afraid crypto is headed for an apocalyptic event.
