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 Change 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 alternate Coinbase, Brian Armstrong, commented on the enforcement motion towards Ripple Labs by the U.S. Securities and Change 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 an identical assertion concerning the SEC. Noting that the regulator is refusing to supply a transparent framework for crypto, he said: “As an alternative of working with the business, the SEC is utilizing their conferences with corporations as lead era 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. “Appears like Brian Armstrong and Coinbase must be on the brink of relist XRP,” one individual tweeted. Nonetheless, some are nonetheless skeptical, arguing that Coinbase won’t 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 not too long ago bumped into bother with the securities watchdog when it tried to launch a lending program. The alternate mentioned the product with the SEC however was threatened with authorized motion if it proceeded with the launch. This brought on Coinbase to shelve the product.
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