The impending summary judgment for the ongoing Ripple vs SEC case has the entire cryptocurrency industry eagerly awaiting the outcome, as it could have significant implications for the industry as a whole. However, a recent development has emerged that suggests Ripple and XRP may have a new ally in their legal battle against the US Securities and Exchange Commission.
Read on to find out more about this exciting development and what it could mean for the future of Ripple and XRP.
Ripple To Get A New Ally?
In the latest development of the Ripple vs SEC case, popular figure Ben Armstrong, also known as “BitBoy,” has suggested that Coinbase, the largest exchange in America, could be a significant new ally for Ripple and XRP.
This speculation arose following a recent meeting between the Chief Legal Officers of Coinbase and Ripple, Paul Grewal and Stuart Alderoty, respectively. Although the details of their conversation remain undisclosed, Alderoty expressed appreciation that Grewal spent time speaking with Ripple’s legal team, suggesting that the meeting was more than just a casual encounter between the two lawyers.
In the current hostile crypto environment in the US, to survive, it is vital to make ‘the enemy of my enemy my friend,’” as emphasized by lawyer John Deaton in a recent tweet. With limited information on the discussions held, conjectures of an alliance have risen within the XRP community, and BitBoy believes Coinbase could serve as a key ally for Ripple should such an alliance materialize.
https://twitter.com/JohnEDeaton1/status/1654184068735549440?s=20
What Triggered This Speculation?
The possibility of an alliance between Ripple and Coinbase has sparked speculation within the crypto industry, with notable figures such as John Deaton and January Walker urging collaboration to fight regulatory overreach from the SEC. Coinbase’s recent lawsuit against the SEC and its support for Ripple’s defense suggests a common interest in regulatory clarity.
Related: Crypto News Today: SEC Has Just 10 Days To Respond To Coinbase’s Legal Complaint!
A meeting between the Chief Legal Officers of both companies has fueled rumors of an alliance, with proponents believing that it would be mutually beneficial. The potential alliance comes amid legal challenges faced by both companies from the SEC.
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