Cryptocurrency

Top U.S. Attorney Shares What Coinbase Stands to Lose If It Relists XRP Now

Jeremy Hogan, a pro-XRP lawyer and partner at Hogan & Hogan law firm, has shared more reasons that may be hindering Coinbase from relisting XRP despite pressure from the token community.

According to him, the leading U.S.-based cryptocurrency exchange would not resume XRP trading until there is a final ruling in the longstanding Ripple-SEC case. And as it stands, no one knows for sure when Judge Analisa Torres would issue the Summary Judgment. However, Ripple CEO Brad Garlinghouse predicts a conclusion may come before or by the end of September 2023. 

“Any chance of a relisting prior to Ripple verdict went out the window with the SEC Wells notice,” he opined in a Tuesday tweet, pinpointing what Coinbase could suffer if it opts to relist the sixth-largest cryptocurrency by market capitalization on its trading platform now. 

The top attorney submitted that Coinbase could be negatively affected in its case against the SEC if the exchange relists XRP and then Ripple happens to lose in the XRP lawsuit. He wrote, “Well if Ripple were to lose, it’d put them on their back heel in their pending litigation.” 

By implication, Hogan says members of the XRP community should only expect XRP to be relisted on Coinbase after the Ripple-SEC case ends. This syncs with the recent comments from Coinbase Chief Legal Officer Paul Grewal.

As earlier reported, Grewal noted that Coinbase would still carry out a thorough assessment of XRP before the exchange can support XRP trading again even though the court concludes that it is a non-security in the ongoing Ripple-SEC case. Consequently, he outlined all the legal steps that could probably lead to the resumption of XRP trading on the second-largest crypto exchange in the world. 

On the other hand, Coinbase and Ripple seem to be joining forces to tackle the U.S. SEC as seen in the recent meeting between both companies’ lead attorneys. As reported by Grewal, the SEC said it is bent on achieving crypto regulation by enforcement and not in for rulemaking. 

 

Ndianabasi Tom

Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.

Recent Posts

Dogecoin Price Forecast: Bulls Resume Uptrend To $0.3, But Can It Reach There Before ETFSwap (ETFS) Goes From $0.05769 To $3?

The Dogecoin price continues to make waves in the crypto market, with the bulls targeting…

2 hours ago

As RCO Finance Token Presale Nears Closure Here’s Why It’s Your Last Chance for Monumental Gains

Investors are excitedly buzzing as the RCO Finance token presale approaches its final weeks. This…

4 hours ago

Trading Becomes Exciting with Plus Wallet’s Reward Programs—SafePal & Bitget Wallet Enhance User Offerings

The latest SafePal Wallet update introduces a banking gateway and a crypto Visa card, taking…

6 hours ago

BlockDAG Soars with $112.5M Presale Success & 100% Bonus! Plus, BNB Drops & Chainlink Targets Peaks

BNB has fallen below $595, hinting at possible bearish trends with a crucial barrier at…

7 hours ago

The 5 Premier Crypto Wallets of 2024 — What Makes Them Superior?

Securing an efficient and robust crypto wallet in 2024 is crucial for managing digital assets…

8 hours ago

BlockDAG Heats Up the Crypto Market with a 100% Bonus Offer—Can Solana & APT Compete?

Cryptocurrency enthusiasts have long sought out investments with solid prospects, and recent trends offer a…

8 hours ago