Coinbase Also A Winner With Ripple Ruling – Crypto News – Crypto News
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Coinbase Also A Winner With Ripple Ruling – Crypto News

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Crypto Market News: Words of appreciation and congratulations poured in for John Deaton, the attorney who represented over 75,000 XRP token holders in the Ripple Vs the US Securities and Exchange Commission (SEC) lawsuit, following the victory in favor of Ripple and XRP holders. On Thursday, Judge Analisa Torres potentially gave out the most important verdict in the evolutionary history of the crypto market, with the declaration that XRP is not a security. As a result, the XRP price soured by as much as 30% on Thursday in a matter of minutes.

Also Read: Crypto Market Bullish Over XRP Lawsuit Ruling, Altcoin Rally Imminent?

Meanwhile, the long time demand for relisting of XRP on US based exchanges like Coinbase is now back in the foreground, thanks to the clear ruling that XRP tokens don’t constitute investment contracts. The demand had recently come up again over the recent lawsuit against the US based exchange by the US SEC. However, Deaton believes Coinbase itself stands as a winner with the latest Summary Judgment from Judge Torres.

“Coinbase Only Other Winner in XRP Lawsuit”

Deaton explained that Coinbase could likely stand as the only other winner than the XRP token and Ripple, as the XRP previously sold on the platform was not a securities sale event. Hence, he suggested that it was time to relist XRP on the platform. The exchange delisted the token in early 2021 over the December 2020 lawsuit against Ripple by the US SEC. Other US based exchanges also followed Coinbase in delisting the cryptocurrency, in what was a near closing down of doors for the token in the US.

“The only other winner than the token XRP and Ripple is Coinbase! XRP sold on exchanges is NOT the sale of securities.”

Also Read: Alex Mashinsky Arrested As US SEC, DOJ, CFTC And FTC Filed Lawsuits Against Celsius Network

Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com/BitcoinReddy

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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