Ripple CEO Brad Garlinghouse recently took to Twitter to express his opinion on the recent comments made by Gary Gensler, the chairman of the SEC, regarding digital currencies. In particular, the executive's statement implied that he believes the SEC's authority is limited and that Gensler's actions are a sign of weakness.
Prominent attorney and digital assets enthusiast Bill Morgan reacted to Garlinghouse's remarks with an interesting observation. Morgan's tweet suggested that the Ripple CEO's confident tone indicates that he is not expecting a negative outcome in the SEC lawsuit against the crypto company. This interpretation of Garlinghouse's words generated hope within the XRP community, which has been closely following the legal proceedings.
Not the words of a man expecting a bad outcome in a lawsuit brought against him by the SEC https://t.co/bxt3PgPlGp— bill morgan (@Belisarius2020) June 6, 2023
The attorney also addressed the news that Robinhood, a major U.S. broker, may delist certain cryptocurrencies, including ADA, SOL and MATIC, due to the SEC's lawsuit against Coinbase and Binance. Morgan drew a parallel to December 2020, when XRP faced a similar situation of legal scrutiny followed by delistings.
Moreover, the attorney continued to criticize Coinbase for its decision to delist XRP and not reintroduce it for trading, despite ongoing pressure from the SEC. He argued that the exchange's actions went beyond restricting Ripple's ability to sell XRP and included blocking all secondary sales of XRP, even those unrelated to Ripple. Nevertheless, Morgan expressed his support for Coinbase's defense against the SEC, believing that the exchange has been treated unfairly.