Despite the recent meeting between the lead counsels of Coinbase and Ripple, Attorney Bill Morgan refuses to believe that the largest U.S.-based crypto exchange will relist XRP anytime soon.
Per a Thursday update, Ripple’s general counsel Stuart Alderoty and Paul Grewal, the chief legal officer at Coinbase had a meeting where Grewal spoke to the entire legal team of the Silicon Valley tech company. Reacting to the meeting Grewal thanked Alderoty for having him over, adding that they needed more of such meetups.
Accordingly, many XRP community members have been pouring different reactions over the recent meeting between the two General Counsels with some users suspecting that the relisting of XRP on Coinbase would come next.
In particular, a prominent XRP proponent and holder said, “Coinbase and Ripple CLOs meet, will XRP listing follow? Bill Morgan, an Australian-based pro-XRP lawyer replied, stating affirmatively that XRP relisting on the Coinbase trading platform will not happen due to the meeting with Grewal and Alderoty. “No, a Coinbase XRP listing will not follow,” he said.
Morgan cited the fact that Ripple itself has lessened support for the 6th largest crypto by market cap, hence the crypto solutions company should not be expecting Coinbase to support XRP on its trading platform either, he implied. Notably, Ripple recently launched a Liquidity Hub project that supports several crypto assets, excluding XRP.
“Why would Ripple expect Coinbase to relist XRP when in the last few weeks Ripple decided not to use XRP in Ripple’s own liquidity hub service,” Morgan wrote.
For clarity, Morgan noted that the meeting between Coinbase CLO and Ripple CLO was regarding the possible court battle between Coinbase and the U.S. SEC. Recall that the securities watchdog has issued a Wells Notice to the top exchange. And in response, Brain Armstrong replied that they are ready to battle in court if the SEC decides to sue them on securities law violation charges. “The meeting was more likely about how Ripple could assist Coinbase in either its petition for a writ of mandamus &/or its defense to a SEC enforcement action,” the top lawyer added.
for a writ of mandamus &/or its defense to a SEC enforcement action. Coinbase’s different treatment of XRP (halting secondary market sales on its exchange), than any other digital asset traded on its exchange that the SEC has alleged in its lawsuits are securities, will continue.
— bill morgan (@Belisarius2020) May 4, 2023
To address these growing concerns regarding XRP relisting, Grewal disclosed what could make Coinbase resume trading for the crypto asset in a recent interview.
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