The blockchain start-up Ripple's cryptocurrency is not a security, one of its top executives told CNBC on Wednesday, seeking to put to rest speculation that it has not been added to popular exchange Coinbase because of questions over its status.
"We absolutely are not a security. We don't meet the standards for what a security is based on the history of court law," Ripple's chief market strategist, Cory Johnson, told CNBC in an interview.
Ripple's cryptocurrency, which hit a record high of $3.84 in January, has pulled back significantly to around 56 cents as of Thursday, according to CoinMarketCap.com.
