Coinbase CEO Brian Armstrong says the SEC v. Ripple case “seems to be going better than expected.” He added that the U.S. Securities and Exchange Commission “is realizing that attacking crypto is politically unpopular.”
Coinbase’s CEO on the Ripple Lawsuit, SEC Attacking Crypto
The CEO of the Nasdaq-listed cryptocurrency trade Coinbase, Brian Armstrong, commented on the enforcement motion towards Ripple Labs by the U.S. Securities and Exchange Commission (SEC) Monday. Referencing a Forbes article titled “The crypto uprising the SEC didn’t see coming,” he tweeted:
The Ripple case appears to be going higher than anticipated. Meanwhile, the SEC is realizing that attacking crypto is politically unpopular (as a result of it harms shoppers).
“The irony is that the people they are supposedly protecting are the ones attacking them,” the Coinbase boss added.
Ripple CEO Brad Garlinghouse has made an analogous assertion relating to the SEC. Noting that the regulator is refusing to offer a transparent framework for crypto, he mentioned: “Instead of working with the industry, the SEC is using their meetings with companies as lead generation for their enforcement actions.” He added that many XRP holders have filed a class-action lawsuit towards the SEC, emphasizing, “These are the exact people the SEC is supposed to be protecting.”
Several folks on Twitter expressed shock to see Armstrong tweeting a optimistic remark about Ripple. Many took his assertion as a bullish signal that the worth of XRP will quickly pump.
Some folks suspect that Coinbase could also be relisting XRP quickly. “Sounds like Brian Armstrong and Coinbase should be getting ready to relist XRP,” one individual tweeted. However, some are nonetheless skeptical, arguing that Coinbase is not going to relist XRP till the lawsuit is over. Coinbase delisted XRP in January, quickly after the SEC filed a lawsuit towards Ripple Labs and its executives, CEO Garlinghouse and co-founder Chris Larsen.
The Nasdaq-listed company itself lately bumped into hassle with the securities watchdog when it tried to launch a lending program. The trade mentioned the product with the SEC however was threatened with authorized motion if it proceeded with the launch. This induced Coinbase to shelve the product.
What do you concentrate on Coinbase CEO Brian Armstrong’s touch upon Ripple? Let us know within the feedback part beneath.
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