Coinbase CEO Claims Ripple vs SEC Lawsuit Seems to Do Better Than Expected For XRP

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Coinbase CEO Claims Ripple vs SEC Lawsuit Seems to Do Better Than Expected For XRP
Coinbase CEO Claims Ripple vs SEC Lawsuit Seems to Do Better Than Expected For XRP

The legal battle between Ripple vs SEC remains another burden, and both parties have made important arguments. However, many proponents of cryptocurrencies believe that Ripple has the upper hand in this case, especially according to the testimony of former US Securities and Exchange Commissioner William Hinman and the obvious red flags at Ethereum to get free similar business structures. As support for Ripple and against the SEC, Coinbase CEO Brian Armstrong came forward, claiming that Ripple’s performance in the lawsuit was better than expected. 

Coinbase CEO Asserts the SEC Realised Crypto Attacks Are Politically Unpopular

In his opinion posted on Twitter on October 26, Brian Armstrong said that the Ripple case seems to be better than expected. At the same time, the SEC has realised that crypto attacks are politically unpopular because they harm consumers.

He also mentioned that the people SEC are supposedly protecting are the ones attacking the regulator.

When the regulator first filed a lawsuit against Ripple in December, everyone announced that the path to XRP tokens was over. This is mainly because the US Securities and Exchange Commission has for the first time also indicted the founder of the project in a securities lawsuit. However, as the case progressed and the SEC began chasing down several crypto companies that claimed they were violating security laws, people realized the SEC’s pure revenge and began to support Ripple.

Coinbase was also one of the victims of the US Securities and Exchange Commission vendetta: even though the cryptocurrency exchange tried to communicate with the agency for six months, the top regulator forced the largest public cryptocurrency exchange in the United States to sell its unreleased USDC-pegged lending product.

The XRP Community Hoping Coinbase Will Re-list XRP

Ripple continues to build new partnerships and expand its remittance business outside of the United States, so the lawsuit has not hampered Ripple’s progress as more than 90% of its business is based outside of the United States. 

However, due to the sharp drop in price after the large-scale delisting of the US exchanges, the native token XRP was hit hardest in the lawsuit. So when Armstrong expressed its support for Ripple, the XRP community requested re-entry.

A member of the XRP community with the username @CryptoBull2020 hopes Coinbase CEO will support XRP by relisting XRP on its platform.