Ripple Could Gain A New Ally Against The SEC, BitBoy
May 05 2023 - 12:30PM
NEWSBTC
Crypto influencer Ben Amstrong, alias Bitboy, has dropped a hint
regarding the ongoing XRP lawsuit. The influencer asserted that
Ripple and XRP could get a new ally in the ongoing SEC lawsuit.
Following Bitboy’s assertion, the potential ally is the largest
US-based crypto exchange, Coinbase, which recently filed a petition
against the SEC. Bitboy’s revelation follows a meeting between the
chief legal officers of Ripple and Coinbase, Stuart Alderoty and
Paul Grewal. Recent Events Hint At Potential Coinbase And Ripple
Alliance Coinbase has been at cross-chairs with the SEC over the
regulator’s approach to crypto regulation. This issue led Coinbase
to sue the SEC in response to a Wells notice from the regulator
alleging securities law violation. Related Reading: Bitcoin
On-Chain Transactions Reach New Heights, What’s Fueling the Surge?
Stuart Aderoty’s remark in response to Coinbase’s fight against the
SEC led many to believe the two firms might align against the
regulator. The recent statement by Bitboy and the meeting of the
two lawyers further confirm these speculations. Although the
specifics of the meetings remain unknown, both lawyers seemed
excited about it. Grewal confirmed this by saying that they need to
meet more often. More so, Stuart Alderoty expressed his gratitude,
adding that Ripple’s legal team spent time discussing with Grewal.
This statement suggests the meeting was professional and involved
Ripple and Coinbase, not just a chance encounter. Why This Alliance
May Be Imminent Due to the scarce information about the meeting,
the XRP community began speculating on an alliance between the
firms. John Deaton, commenting on the meeting between
the two attorneys, noted that survival in the US regulatory
atmosphere could require a team-up with one’s enemy. Related
Reading: Why Is Bitcoin And Crypto Up Today? The alliance
speculations follow advice from prominent personalities like US
congress candidate January Walker and attorney John Deaton. These
two have urged the crypto community to team up and fight against
the SEC’s regulatory war on cryptocurrencies. Coinbase’s recent
lawsuit against the SEC asking the regulator for clear regulatory
guidelines excited the XRP community and the broader crypto
industry. Moreover, Alderoty’s remark, “the enemy of my enemy is my
friend,” shortly after Coinbase confirmed the Wells notice hinted
at a potential alliance between both firms. Featured image from
Pexels and Chart from TradingView.com
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