Market

The CEO of Coinbase says the SEC vs. Ripple case is ‘going better than expected.’

The SEC v. Ripple case, according to Coinbase CEO Brian Armstrong, “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.”

The CEO of Coinbase says the SEC vs. Ripple case is 'going better than expected.' 2

Brian Armstrong, the CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, commented on the Securities and Exchange Commission’s (SEC) enforcement action against Ripple Labs on Monday. He tweeted: “The crypto uprising the SEC didn’t see coming,” referring to a Forbes article titled “The crypto uprising the SEC didn’t see coming.”

The Ripple case seems to be going better than expected. Meanwhile, the SEC is realizing that attacking crypto is politically unpopular (because it harms consumers).

In relation to the SEC, Ripple CEO Brad Garlinghouse has made a similar statement. Noting the regulator’s refusal to provide a clear framework for cryptocurrency, he stated, “Instead of working with the industry, the SEC is using their meetings with companies as lead generation for their enforcement actions.” He went on to say that many XRP holders have filed a class-action lawsuit against the SEC, emphasizing that “these are the very people the SEC is supposed to be protecting.”

Several Twitter users expressed surprise when they saw Armstrong tweeting a positive comment about Ripple. Many interpreted his statement as a bullish sign that the price of XRP will soon skyrocket.

Some speculate that Coinbase will relist XRP soon. “Sounds like Brian Armstrong and Coinbase are getting ready to relist XRP,” one Twitter user speculated. Some remain skeptical, claiming that Coinbase will not relist XRP until the lawsuit is resolved. Coinbase delisted XRP in January, shortly after the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs and its executives, CEO Garlinghouse and co-founder Chris Larsen.

The Nasdaq-listed company recently ran into trouble with the Securities and Exchange Commission when it attempted to launch a lending program. The exchange discussed the product with the SEC, but it was threatened with legal action if the launch went ahead. As a result, Coinbase decided to discontinue the product.

Patrick

Coincu News.

Victor

Recent Posts

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

6 minutes ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

2 hours ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

5 hours ago

This website uses cookies.