Consensus by CoinDesk: Ripple (XRP) Will Hold Its IPO, and Binance Is Not the Mafia

Consensus by CoinDesk: Ripple (XRP) Will Hold Its IPO, and Binance Is Not the Mafia

Source: CoinDesk

The annual conference Consensus has been known since 2015. It always attracts the attention of the crypto community due to the high level of speakers. This year the program was so intense that the organizers had to add an extra day.

The announced four days of Consensus by CoinDesk, from May 24 to May 27, did not include all the topics and speakers who wanted to take part.

On an additional day May 28, the head of the Binance exchange Changpeng Zhao (CZ) expressed his attitude to the situation on the cryptomarket. It seems that Binance has a hard time in the US market. Therefore, the exchange added to its staff some influential people, including the former US senator and former functionaries of the FATF (Financial Action Task Force on Money Laundering).

CZ shared his opinion on the so-called “concept of the mafia” in the technology field. The head of Binance noted that there are well-known cases when the nouveau riche, who were enriched by early participation in successful projects like PayPal, then go to other areas. CZ is referring to Elon Musk, who was the CEO of PayPal in 1999-2000.

Meanwhile, Binance creates new opportunities for employees and investors in cryptocurrencies, with which they multiply their wealth. CZ’s speech is aimed at ensuring that the increased activity of Binance in the US market does not cause negative feedback from the community. Recently “Binance Mafia” has become a point of discussion, and this may have led to a sharp drop in the Binance Coin (BNB).

One of the most notable at Consensus by CoinDesk was the speech of Brad Garlinghouse, Ripple’s CEO. The top manager confirmed that the company will go public after the SEC’s lawsuit against Ripple ends. Garlinghouse noted:

– The likelihood that Ripple is a public company is very high at some point.

Many experts say the court is likely to rule in Ripple’s favor. In this case, the IPO may take place in July. The company planned to go public a year ago. But these plans had to be postponed due to the SEC lawsuit.

Now there is new data on how entering the fiat market affects the price of a digital asset. On April 14, Coinbase began trading on the NASDAQ. On the first day, the closing price was more than $328, which is 30% higher than the estimated price of $250. But now, after a month and a half, Coinbase shares are trading slightly below the estimated price.

After the SEC filed the lawsuit, the XRP price dropped to $0.2387 on January 1, 2021. However, by April 14, XRP had grown 8 times and was already trading at a price of $1.83. During the recent market crash, the price of Ripple’s cryptocurrency dropped to $0.77. XRP is currently trading above $0.88 and growing. According to analysts, the cryptocurrency may rise to $3 in the near future. So far, XRP is the only top cryptocurrency that has not renewed its all-time high of $3.84 reached on January 4, 2018.