Coinbase Confirms It Will Distribute FLR Tokens to XRP Holders

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Coinbase reiterates its commitment to supporting FLR token distribution.

San Francisco-based crypto exchange Coinbase has regurgitated its commitment to support the upcoming airdrop of Flare Network’s tokens (FLR). In a tweet yesterday, Coinbase noted that it would honor its prior commitment to its customers by supporting the distribution of FLR to users who held XRP at the time of the snapshot, December 12, 2020, at 00:00.

Coinbase intends to honor our prior commitment to our customers to support @FlareNetworks’ FLR airdrop.

— Coinbase Assets (@CoinbaseAssets) December 12, 2022

According to the announcement, Coinbase said it would support FLR distribution to beneficiaries within the first half of next year.

“Customers on http://Coinbase.com simple & advanced trade & @CoinbaseExch in approved jurisdictions which held XRP on the snapshot date of Dec. 12, 2020, at 00:00 UTC will qualify to receive FLR tokens.”

The exchange further said it could not guarantee support for any specific jurisdiction. Per the announcement, the FLR airdrop will only be available to Coinbase users who reside in supported jurisdictions. However, Coinbase users residing in Germany, Singapore, Coinbase, Japan, and New York, will be exempted.

While we cannot guarantee support for any particular jurisdiction, FLR trading, and the associated FLR airdrop, is expected to generally be available in Coinbase’s supported jurisdictions, with the exception of Germany, Japan, New York and Singapore.

— Coinbase Assets (@CoinbaseAssets) December 12, 2022

Flare Response

Flare network and community both thanked Coinbase.

Thank you @coinbase @CoinbaseAssets @brian_armstrong https://t.co/nI9m1lhh5a

— Flare ☀️ (@FlareNetworks) December 12, 2022

🚨🚨🚨 BREAKING 🚨🚨🚨

Coinbase finally confirm support for the $FLR distribution!

“We estimate supporting the airdrop within the first half of 2023” https://t.co/ZLLFDloDnw

— Flare Community ☀️ (@CommunityFlare) December 12, 2022

Flare Network CEO Calls Out Coinbase Team

The announcement comes a week after Flare Network’s CEO Hugo Philion disclosed that Coinbase is yet to respond to inquiries about FLR distribution. On December 6, Philion revealed that Flare Network had not gotten any response from Coinbase regarding its offer to support the exchange in distributing the tokens to XRP holders. 

As reported, the long-anticipated FLR airdrop is scheduled to take place on January 9, 2023. Despite fixing the FLR airdrop distribution date, the Flare Network team wants to confirm the exchanges’ readiness for the token distribution. 

Philion is eager to get Coinbase to distribute FLR tokens because it seems the exchange is having problems with Flare Network’s token distribution. It is worth noting that while other exchanges have completed the distribution of Songbird (SGB), Flare Network’s testnet tokens, Coinbase is yet to distribute the crypto assets to XRP holders who qualify for the airdrop. The exchange has not given any information on why it has delayed the token distribution for over a year. 

TheCryptoBasic reported that prominent crypto YouTuber Ben Armstrong, a.k.a BitBoy Crypto, called out Coinbase over the matter. 

“Wait… Coinbase didn’t give XRP holders their Songbird SGB token distribution? Uncle brian_armstrong, WHAT’S THE DEAL?!” BitBoy tweeted last month.

Flare Ready for FLR Airdrop

Meanwhile, Flare Network is committed to proceeding with FLR distribution on the scheduled date, January 9, 2023. The company recently demonstrated its willingness to distribute the tokens to XRP holders by publishing a list of exchanges supporting FLR airdrop. According to the list, 25 crypto exchanges, including Binance and Bithumb, have confirmed they will support FLR airdrop, while 12 exchanges, including Coinbase and Binance.US, have not confirmed support for the exercise. 

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