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Coinbase CEO Brian Armstrong says the SEC v. Ripple case “appears to be going higher than anticipated.” He added that the U.S. Securities and Alternate Fee “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 change Coinbase, Brian Armstrong, commented on the enforcement motion towards Ripple Labs by the U.S. Securities and Alternate Fee (SEC) Monday. Referencing a Forbes article titled “The crypto rebellion the SEC didn’t see coming,” he tweeted:
The Ripple case appears to be going higher than anticipated. In the meantime, the SEC is realizing that attacking crypto is politically unpopular (as a result of it harms shoppers).
“The irony is that the folks they’re supposedly defending are those attacking them,” the Coinbase boss added.
Ripple CEO Brad Garlinghouse has made the same assertion relating to the SEC. Noting that the regulator is refusing to offer a transparent framework for crypto, he stated: “As a substitute of working with the business, the SEC is utilizing their conferences with corporations as lead technology for his or her enforcement actions.” He added that many XRP holders have filed a class-action lawsuit towards the SEC, emphasizing, “These are the precise folks the SEC is meant to be defending.”
A number of folks on Twitter expressed shock to see Armstrong tweeting a constructive 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. “Feels like Brian Armstrong and Coinbase needs to be on the point of relist XRP,” one particular person tweeted. Nevertheless, 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 firm itself lately bumped into hassle with the securities watchdog when it tried to launch a lending program. The change 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 consider Coinbase CEO Brian Armstrong’s touch upon Ripple? Tell us within the feedback part under.
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