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Ripple Will Not List XRP in Its Own Liquidity Hub, John Deaton Explains Why

Fri, 05/05/2023 - 13:53
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Godfrey Benjamin
John Deaton said regulatory uncertainty around XRP justifies why Coinbase and Ripple are not supporting coin for now
Ripple Will Not List XRP in Its Own Liquidity Hub, John Deaton Explains Why
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The over-extended legal battle between blockchain payments firm Ripple Labs Inc and the U.S. SEC is affecting the liquidity diversification of XRP. Pointing out this major strain, pro-Ripple attorney John Deaton responded to a tweet from fellow lawyer Bill Morgan stating why Ripple, as a major proponent of XRP, has removed the coin from its Liquidity Hub.

Morgan clarified to a Twitter user that the earlier meeting between Coinbase and Ripple CLOs is not a move that will guarantee the relisting of XRP on the trading behemoth. Recall that Coinbase delisted XRP following the securities lawsuit filed by the SEC against Ripple back in December 2020.

Justifying the statement from Morgan, Deaton said the community should not expect a listing from Coinbase when Ripple does not even host its own Liquidity Hub platform. The XRP holders' lawyer said the regulatory uncertainty surrounding XRP makes it hard to make the move to support the trading or the use of the asset in crypto-related payment transactions.

He went on to say that the restrictions being placed are one of the reasons why the fight against the market regulator is an all-encompassing one.

Ripple v. SEC: Great If Verdict Comes in Few Months, Says Former Lawyer

Unrelenting in ongoing fight

As a representative of 75,000 XRP holders, it is obvious John Deaton is not planning to back down from the fight against the SEC. Sharing with his more than 263K followers on Twitter, the attorney said the amicus brief he submitted in the case and the affidavits from more than 3,500 investors and investors in more than 143 countries is an indication that public interest in the case is very high.

He said he remains optimistic that Judge Torres will deliver a good verdict per the much expected summary judgment. Earlier, Deaton killed any hope that there might be a settlement negotiation between the SEC and Ripple following rumors that both have a private meeting scheduled for next week.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.