US-based cryptocurrency exchange Coinbase has supported Ripple in the XRP lawsuit. The crypto exchange requests the court to submit an Amicus Summary in support of Ripple’s Fair Disclosure Defense. found. Interestingly enough, Coinbase was one of the first platforms to stop trading XRP after the US SEC sued Ripple.
As we previously reported, the SEC sued Ripple in 2020. As Coinbase highlighted in its Amicus summary, the lawsuit had a domino effect.
Many exchanges delisted XRP and the effect, which wiped out about $15 billion from the market capitalization of XRP, turned into a loss mainly felt by XRP holders.
Is Coinbase Planning To Relist Ripple (XRP)?
Despite the recent show of support by Coinbase, there has been no clear statement from the company that it will relist XRP. However, we can say that the exchange will wait for the outcome of the legal battle between Ripple and the SEC.
Koinfinans.com As we reported, for now, Coinbase does nothing against the SEC’s claim that XRP is a security.
Instead, the exchange argues for Ripple’s fair warning defense, emphasizing that the SEC’s lack of clear rules prevents them from taking enforcement action against Ripple.
As previously reported, Ripple chief Brad Garlinghouse expects the court to make a decision on the case in the first half of 2023. Therefore, XRP users may have to wait until then to know if Coinbase will relist the token.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.