Is the Coinbase platform preparing to re-enter Ripple’s XRP?

The crypto industry behind Ripple

As a reminder, Coinbase was one of the exchange platforms to suspend XRP trading last January, while Ripple was crumbling under lawsuits. And while Ripple’s legal battles are far from resolved, the company has shown some form in recent months, giving the SEC a hard time.

Ripple did not let down like others before her, a point pointed out by Brian Armstrong, the CEO of Coinbase:

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

β€œRipple’s trial seems to be going better than expected. Meanwhile, the SEC is realizing that attacking cryptocurrencies is politically unpopular (because it hurts consumers). “

πŸ‘‰ To go further – What does the SEC hold against Ripple?

Coinbase would consider re-entering Ripple’s XRP?

Armstrong considers the situation ironic, because “the people they are supposed to protect are the ones who attack them.” The pro-cryptos have indeed protested against the initiatives of the SEC, which they consider inconsistent and unnecessary.

This displayed support from Brian Armstrong for Ripple is a certain about-face, and it has fueled the rumors. Some believe that the CEO of Coinbase is set to re-authorize XRP trading on the platform.

Especially since XRP briefly reappeared on Coinbase Pro earlier this month. The platform had however explained that it was a bug.

πŸ‘‰ Find our presentation of the Coinbase exchange platform

Coinbase also battles with the SEC

Brian Armstrong’s mistrust of the SEC is also due to Coinbase’s own problems with the US financial policeman. The platform had to abandon its lending plans last September because the SEC threatened it with legal action.

The US regulator has been showing its teeth in recent months. A few days ago, the crypto-community ignited as the founder of Project Terra (LUNA) received a subpoena from the SEC. The latter carries considerable weight: its approval of a first Bitcoin ETF (BTC) was the trigger for BTC’s latest breakthrough, which hit an all-time high last week.

A possible reinstatement of XRP on Coinbase would in any case send a strong message of unity against the American financial policeman. What is certain is that the tensions are far from over, and that we should see several twists and turns before the crypto ecosystem and the SEC find their balance.

πŸ‘‰ Find all the news about altcoins

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About the author: Marine Debelloir

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Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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