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Bitboy Calls Out Coinbase For Not Distributing SGB Tokens To XRP Holders

Altcoins

thecryptobasic.com 24 November 2022 10:13, UTC
  
Reading time: ~2 m

Bitboy Crypto is shocked that Coinbase is yet to distribute SGB airdrop tokens to XRP holders.

Crypto influencer and YouTuber Ben Armstrong, AKA Bitboy Crypto, has called out Coinbase and its CEO Brian Armstrong for failing to distribute Songbird (SGB) airdrop tokens to XRP holders.

Wait… Coinbase didn’t give $XRP holders their Songbird $SGB token distribution?

Uncle @brian_armstrong WHAT’S THE DEAL?!?!@Ripple #xrparmy

— Ben Armstrong (@Bitboy_Crypto) November 24, 2022

Notably, it has already been over a year since Flare Networks distributed the SGB airdrop. However, Coinbase is yet to distribute SGB tokens to customers who held XRP on the exchange during the screenshot for the airdrop in December 2020.

For the uninitiated, SGB is the native token of the Flare Networks’ Canary network. Notably, it serves as a stress test network for Flare Networks. As with the FLR airdrop, Flare Networks promised holders of XRP at the time of the screenshot a distribution of SGB tokens. Consequently, Flare Networks distributed the tokens in September 2021.

In light of Coinbase’s silence on the issue, a cross-section of XRP holders affected launched a petition to get answers from the leading crypto exchange. The petition discloses that Coinbase has not given users any explanation for its delayed token distribution. Consequently, per the petition, users demand that the exchange release an official statement of its intentions and a public apology.

It is not clear when users launched the petition, but at press time, it has garnered 4,715 signatures out of the required 5000.

It is worth noting that in December 2020, Coinbase pledged support for the FLR airdrop but said nothing about the SGB token airdrop leaving investors confused.

Per a statement from Flare Networks in July 2021, all exchanges that pledged support for the FLR drop ought to have received the SGB tokens in the wallet provided for the FLR drop, highlighting that distribution to customers was at the discretion of these exchanges.

All exchanges that are supporting the distribution of $FLR will also receive $SGB to the same address that they provided for the $FLR distribution (but with a different chain ID). They can distribute $SGB to their customers when and if they feel comfortable to do so.

— Flare ☀️ (@FlareNetworks) July 26, 2021

Bitboy has recently become a keen XRP supporter asserting that the rest of the crypto community owed the XRP community an apology. On the other hand, he has been critical of Coinbase chief Brian Armstrong of late, saying he is out to ruin crypto.

At press time, SGB is trading at the $0.01187 price point, up 8.72% in the last 24 hours.


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