Over 3 billion XRPs were held on Coinbase Exchange to miss the Flare Network Spark Airdrop

  • Ripple is ready to broadcast a new token to all XRP holders on major cryptocurrency exchanges.
  • Coinbase and Binance.US users will miss the airdrop as the exchanges don’t support the token.

Flare Networks, a Ripple-funded blockchain company, will broadcast Spark (FLR) tokens for free to anyone holding XRP in wallet and exchange support on December 13. However, with more than 3 billion XRP tokens held on a California-based crypto exchange, Coinbase is in danger of losing out on the airdrop, confirmed Flare Networks, the company conducting the Spark token airdrop.

According to a tweet sent over the weekend, Flare Networks said the exchange “is probably too late” to participate in the airdrop.

On November 13, Flare Networks launched the airdrop campaign promising users to own free Spark XRP tokens at a 1: 1 ratio. Each XRP holder on supported wallets and exchanges starting December 12 at 00.00 GMT (when the snapshot will take place) will be able to receive free tokens.

The XRP army is infuriated with Coinbase and several major cryptocurrency exchanges that have not yet announced any plans to support the airdrop. According to Flare Networks, any XRP user on exchanges and wallets that don’t support airdrop will not receive Spark tokens.

In a message addressed to these cryptocurrency exchanges, Flare Networks reminded most exchanges to announce their position on the distribution of Spark tokens on November 24. Binance (except Binance US), Bittrex and Bitfinex have since responded in support of the distribution of Spark tokens, which will allow XRP users on their platform to enjoy the airdrop.

Coinbase has yet to respond to distribution despite holding over 3 billion XRP tokens (around $ 1.87 billion) in its wallets. Kraken Exchange he answered, stating they “have no plans to support this airdrop / fork”.

Users who hold their XRP in non-supporting exchange wallets and wish to participate in the airdrop must move their tokens to another supporting exchange.

If you don’t move your tokens from unsupported exchanges, you are bound to lose your rewards with Flare Networks planning to redistribute the remaining tokens to eligible XRP holders.

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