Today the price of XRB (Raiblocks) was really down on the exchange Bitgrail compared to the prices on other exchanges where XRB is listed.
The reason was really simple: Bitgrail is trying to avoid legal issues. They are now obligated to work with KYC, and it will force the company to shut down accounts from non-EU customers. They said that accounts started to be closed, and people will get refund in BTC. People that did not get in the closing process decided to cash out. Now things are getting interesting: Deposits and Withdrawals are currently not available for XRB on Bitgrail. People were just dumping their XRB to cash out, before getting "caught" by Bitgrail's team.
Last thing we learned from the XRB community manager's post on Telegram group was about the team not so focus on getting liste on other bigger exchanges. Apparently, we should hear soon the announcement about XRB exchange getting launched!! Stay tuned.
Please find here a copy and paste from the post that appeared in the telegram group of XRB, written by the community manager:
Bitgrail is having legal issues (according to bomber) and he's taking some serious decisions for the exchange that is affecting XRB users really bad. This has driven the price down due to non-EU users getting their funds out and people, and some others reasons as well. We as RaiBlocks can't call Bitgrail decisions since we do not own the exchange, but Developers know that this is affecting the coin and they're reaching out to bomber in order to sort things out for the greater good of all users. We only care that XRB users can take their funds with no issues, since there shouldn't be issue to withdraw XRB with our properly working nodes
So I suggest to wait for further announcements before believing in random FUD
You need to understand something. RaiBlocks developer are trying to help us all the best they can so no one has to take out their funds at a loss
Binance and what developers are doing:-
As stated in recent updates from developers, a lot of work is being done since months ago for the network, wallets and of course new strategies for marketing and exchanges
We have an exchange team in charge of the listings and support for exchanges but they have NDA to comply with
Don't take Binance announcement as uncertain since they even tweeted that no dates will be given unless they do officialy by their mediums
Upcoming Updates On Exchanges
I can't talk about it much because Exchange team has rules (like fight club). But I have a good questions. What makes you thing we are not aiming at other exchanges? other bigger ones?
We are looking to aid in the issues with withdrawals in BG, is something we are taking as a must due to the issues at hand. We care about you and we want to sort all things out for the better of this community and all users. Great things are coming, this will only be one those bad memories you'll laugh about when the time pass. Sorry for deleting messages, you can continue conversations now having in mind all I've said. Please, let's keep the good environment here