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Ripple CEO's Speech Hints at Pro-XRP Outcome in SEC Battle, Says Lawyer

Wed, 06/07/2023 - 14:31
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Gamza Khanzadaev
Bill Morgan anticipates XRP victory following Brad Garlinghouse's rhetoric about SEC
Ripple CEO's Speech Hints at Pro-XRP Outcome in SEC Battle, Says Lawyer
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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.

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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.

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.

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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.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.