Coinbase CEO to speak on JP Morgan event after bombshell report on Ripple and XRP

Rick Steves

The fireside chat at the J.P. Morgan Crypto Economy Forum will take place on Tuesday, November 30, 2021, at 1:15 p.m. PT / 4:15 p.m. ET, and can be watched online.

J.P. Morgan Chase close to switching phone line trading to cloud

Coinbase Global, Inc. has announced that Brian Armstrong, co-Founder and CEO of Conbase, and Fred Wilson, Lead Independent Director, will participate in a JP Morgan event focused on the cryptocurrency space.

Both executives will join a fireside chat at the J.P. Morgan Crypto Economy Forum on Tuesday, November 30, 2021, at 1:15 p.m. PT / 4:15 p.m. ET.

A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com. It can be found here.

In its recent North America Equity Research report, JP Morgan mentioned Coinbase as a key player to help drive XRP adoption after a Ripple win in the SEC lawsuit.

“If the company is able to win the SEC lawsuit and trading resumes on major cryptocurrency exchanges like Coinbase, XRP is poised for significant adoption”.

This JP Morgan report, which was not made public, goes into great depths about XRP. The document points to its competitive advantage over SWIFT.

“While traditional money transfers – most commonly SWIFT transfers – are costly and can take up 5 business days to complete, transactions using Ripple’s XRP can be completed in as little as 3 to 5 seconds and transaction fees are just 0.0001 XRP. SWIFT transfers are more expensive due to the numerous intermediary banks involved that charge fees to both the sender and recipient.”

JP Morgan analysts also pointed to another advantage: XRP is not pegged to an underlying currency unlike stablecoins, which follow their underlying currency’s volatility.

“The role of XRP as a bridge asset in international settlement is not competing with stablecoins but on the contrary, it is complementary.”

As to the SEC v. Ripple lawsuit, the Howie test is seen as the deal breaker. “For the SEC to win the suit, Judge Sarah Netburn […] must determine that all aforementioned four points are met; if she determines that one or multiple points are not met, Ripple will win the suit”.

More news on Ripple (XRP):

XRP lawsuit makes no damage: Ripple plans to “hire a few hundred people” after “blockbuster year”

JP Morgan: “If Ripple wins SEC lawsuit, XRP is poised for significant adoption”

Why has XRP lawsuit gone silent?

SEC v. Ripple got XRP delisted but Jed McCaleb sold $2b in 2021: double standard?

Ripple’s string of wins analyzed, XRP lawsuit to drag on until Spring 2022

SEC v. Ripple: What to wait for in XRP lawsuit agenda?

Ripple brings fight to lawmakers to put an end to “SEC hostility”

Did Ripple lie about its XRP-powered liquidity platform?

Legal experts analyze SEC v. Ripple as cautionary tale for market participants

Read this next

Industry News

OKX to open office in Australia, starts rivalry with Kraken in Formula 1

“Our ambition is straightforward – to become the leading crypto platform in the world. We see Australia as an indispensable part of this strategy and a key growth market.”

Executive Moves

Freemarket taps Greg Sherwin as CTO of international payments and FX-focused fintech

“At Freemarket, we are focused on providing the best optimized cross-border payments and currency exchange service to our customers and Greg’s exceptional technology expertise will help us deliver even more for our customers and support their future growth and success.”

Digital Assets

Boerse Stuttgart Digital secures BaFin authorization for crypto custody

“This is the first time that an established market participant has been licensed to hold cryptocurrencies in custody without any acquisitions. This completes the unique infrastructure we offer: of all the traditional service providers operating in the European crypto market, we are now the only one-stop-shop that’s fully regulated by BaFin in Germany for brokerage, trading, and custody of digital assets. For banks, brokers, asset managers, and family offices, this makes us the infrastructure partner of choice.”

Executive Moves

Capital.com hires Simone Manni as Head of Marketing, Europe

“I am proud to join Capital.com, a dynamic, fast-growing FinTech company harnessing technology to disrupt traditional access to financial markets. My focus over the next few years will be to grow Capital.com’s market share across western Europe and to gain a stronger foothold in countries like Italy and Germany which boasts a mature and sophisticated trading community.”

Retail FX

Axi extends partnership deal with Manchester City

FX broker Axi, previously known as AxiTrader, has renewed its flagship sponsorship deal with soccer giant Manchester City.

Digital Assets

Russia delays digital ruble pilot to May

Russia has postponed its central bank digital currency (CBDC) pilot indefinitely, which was originally scheduled for April 1, as it awaits specific legislation to be voted before the “crypto ruble” trial.

Executive Moves

Scope Markets promotes James Hughes to head of marketing

Belize-based FX and CFDs brokerage Scope Markets has promoted James Hughes, who until recently was its head of brand, to take on an expanded role as the company’s global head of marketing.

Retail FX

Fraudsters clone Financial Commission’s website, two ex-members under suspicion

The Financial Commission, an industry-specific dispute resolution service that caters to the financial services industry, today announced that it believes a clone website has been impersonating its membership roster.

Retail FX

CMC Markets warns of operational challenges in Q1

CMC Markets PLC (LSE:CMCX) said in a trading update for the fiscal year 2023 that February and March posed a more challenging environment with lower equity volumes and a higher proportion of lower margin institutional trading activity.

<