Ripple Execs Jump into Coinbase Battle! Will Coinbase Get into Pressure and Relist XRP?

The post Ripple Execs Jump into Coinbase Battle! Will Coinbase Get into Pressure and Relist XRP? appeared first on Coinpedia Fintech News

Riding a wave of recent legal challenges, the crypto community is rallying around Coinbase, urging the platform to relist XRP. As the exchange battles the SEC, top Ripple executives have taken to social media to highlight a critical court order, adding a new dimension to the ongoing saga.

Court Order on Coinbase’s Mandamus Action

In a significant turn of events, Coinbase’s Chief Legal Officer Paul Grewal announced that the Third Circuit Court had issued an order concerning Coinbase’s Writ of Mandamus action against the SEC. The court order requires the SEC to clarify its stance on Coinbase’s petition for rulemaking. If the SEC doesn’t deny the petition, it must disclose how much more time it needs to make a decision. The court also asked the SEC to justify why it should not retain jurisdiction and mandate periodic reports, as suggested by Coinbase.

Ripple Executives Chime In

In a series of reactions to Grewal’s announcement, Ripple’s General Counsel Stuart Alderoty and CTO David Schwartz expressed their views. Alderoty lauded the significance of the court order, claiming it was “really big!” Schwartz, on the other hand, speculated that the SEC would initially resist providing the requested information, but would eventually comply.

XRP Relisting: A Growing Demand

In a rallying cry to Coinbase, XRP enthusiasts are urging the exchange to relist the coin. Coinbase had delisted XRP following an SEC lawsuit against Ripple for offering unregistered securities through XRP sales. With Ripple executives publicly backing Coinbase in its fight against the SEC, the call for XRP’s relisting has grown stronger. Prominent figures in the crypto community, including crypto YouTuber Ben Armstrong (BitBoy Crypto) and Gym Positivity CEO Joey Swoll, have also joined the chorus for XRP’s return to Coinbase.

The support from Ripple executives and the growing demand for XRP’s relisting highlight the many dimensions of this battle. 

Will Coinbase heed the community’s call and relist XRP? How will these developments shape the future regulatory landscape of the crypto world? Only time will tell!

Also read – SEC Targets Crypto Titans while Crowning FedNow Service!