Share this article
Genesis to Suspend XRP Trading, Lending
In an email sent to clients Wednesday, Genesis announced it would be halting XRP trading and lending in the new year.
Updated May 9, 2023, 3:14 a.m. Published Dec 30, 2020, 6:26 p.m.
Digital currency prime broker Genesis is halting XRP trading and lending in light of the Securities and Exchange Commission’s lawsuit against Ripple.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to an email sent to clients and shared with CoinDesk, the firm, which is owned by CoinDesk parent company Digital Currency Group, is suspending XRP trading and lending.
Clients will have until Jan. 15 to sell XRP “as long as sufficient liquidity exists,” the email read, after which time Genesis will suspend trading and deposits in the token, although withdrawals will still be allowed.
Ripple’s regulatory trouble is apparently driving the decision. The SEC is suing Ripple for what it’s calling a $1.3 billion unregistered security sale. Genesis’ “team is actively monitoring the evolving regulatory situation with XRP," the email read.
For its XRP lending markets, the email said Genesis is calling all loans and that all fixed-term loans that mature on or after Feb. 1, 2021, have been called back or terminated.
Genesis’s XRP derivatives markets will continue trading.
The announcement makes Genesis the latest in a host of crypto exchanges suspending XRP trading until the outcome of the lawsuit becomes clear.
Genesis has not responded to CoinDesk’s request for comment.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
