B2C2 Becomes Latest Crypto Market-Maker to Stop XRP Trading: Report

Non-U.S. clients can still trade the token but need to pre-fund all short trades, the report said.

By Kevin Reynolds

Dec 26, 2020 at 8:05 p.m. UTC

Updated Sep 14, 2021 at 10:48 a.m. UTC

Max_Boonen_B2C2_Consensus_Invest_2017 — B2C2 CEO Max Boonen

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Cryptocurrency market maker B2C2 halted the trading of XRP with U.S.-based counterparties, effective this past Thursday, following the U.S. Securities and Exchange Commission's lawsuit against Ripple Labs, according to a report in The Block.

Non-U.S. clients can still trade the token but need to pre-fund all short trades, according to The Block report, which cited no sources
B2C2's move comes as cryptocurrency exchanges Beaxy, Bitstamp, OSL and CrossTower have said they were halting XRP trading, as well as market-makers Galaxy Digital and Jump Trading, which both stopped XRP market making.
According to a lawsuit filed Tuesday, Ripple raised $1.3 billion over a seven-year period to retail investors through its sale of XRP on an ongoing basis. If the SEC prevails, XRP could become a pariah token as platforms that continued to list the crypto may have to register as securities exchanges.

UPDATE (Dec. 27, 1:01 UTC): Adds that OSL and CrossTower have also suspended XRP trading.

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