Brian Armstrong, the CEO of the largest US-based crypto exchange, Coinbase, has recently showcased support for Ripple, the San Francisco-based cross-border payment firm, and its digital token XRP, amidst the legal tussle with the United States Securities and Exchange Commission (SEC).
In a tweet on 26th October, Armstrong stated that the case between Ripple and SEC seems to be going better than expected, stressing that the regulator is starting to realize that any rule against crypto is an indirect attack on consumers.
Brian Armstrong tweeted, “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).”
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). https://t.co/ePLnbqNLwU
— Brian Armstrong (@brian_armstrong) October 26, 2021
Coinbase CEO further said, “The irony is that the people they are supposedly protecting are the ones attacking them.”
Coinbase Relisting XRP Rumor Reignited
Among the XRP community, the discussion regarding the possibility of Coinbase relisting the digital token XRP on its trading platform has received a new life.
Back in January 2021, Coinbase decided to suspend XRP trading after the SEC filed a lawsuit against Ripple for the sales of XRP as an unregistered security, causing a massive drop in the market value of the cryptocurrency.
In September, a rumor started making rounds on social media that Coinbase has made XRP available for trading once again. However, the exchange officially tweeted to debunk the rumor.
Also, it’s worthy of note that the digital token XRP has remained resilient despite its legal battle with the SEC. This resilience has prompted Mike Novogratz, CEO of Galaxy Investment Partners, to note that XRP has tripled in price since the SEC’s filing.