Brian Armstrong, CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, recently commented on the SEC v. Ripple case saying it “seems to be going better than expected”. Sharing a Forbes article titled “The crypto uprising the SEC didn’t see coming,” he told his Twitter audience things are looking good for Ripple:
The irony is that the people they are supposedly protecting are the ones attacking them.
— Brian Armstrong (@brian_armstrong) October 26, 2021
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Brad Garlinghouse, Ripple Labs CEO and defendant in the U.S. Securities and Exchange Commission case against Ripple, has made a similar statement regarding the lawsuit. With the regulator refusing to provide a clear framework for crypto, he said:
“Instead of working with the industry, the SEC is using their meetings with companies as lead generation for their enforcement actions.”
Furthermore, he pointed to the many XRP holders that have filed a class-action lawsuit against the SEC, suggesting that the agency will need to focus on doing their job right. “These are the exact people the SEC is supposed to be protecting,” Garlinghouse said.
Armstrong’s tweet with the positive Ripple outlook came to a surprise to many. Nonetheless, it was quickly picked up as a bullish sign that the price of XRP will soon pump with Coinbase possibly relisting XRP soon. “Sounds like Brian Armstrong and Coinbase should be getting ready to relist XRP,” one person tweeted.
Nevertheless, Coinbase relisting XRP before the end of the lawsuit is highly unlikely. The Nasdaq-listed exchange is a compliant company and has no intentions of risking its shareholder value by making any cowboy moves. It recently caught some headwinds after the SEC threatened legal action over its new “Lend” program. Following this, Coinbase put the release on hold.
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Source: Igaming
