Coinbase Faces Pressure to Relist XRP as Legal Officers Gather for Crucial Discussion

"Speculation mounts over Coinbase's possible relisting of XRP as Ripple and Coinbase CLOs spotted together"

Coinbase, the largest cryptocurrency exchange in the US, delisted XRP in 2021, citing the SEC’s enforcement action against Ripple Labs as the main reason. However, the campaign to relist the token resurfaced last month following a Twitter post by John E. Deaton, the XRP community attorney.

Crypto users suspect Coinbase may relist XRP after seeing Ripple Chief Legal Officer (CLO), Stuart Alderoty, hanging out with Coinbase CLO Paul Grewal. In a tweet, Grewal thanked Alderoty for having him over and suggested they have more such meetings in the future.

Grewal’s tweet, which pictured both CLOs in a close friendly gesture, has increased the energy behind the crypto community’s suspicion that Coinbase may soon relist XRP.

While details of their meeting remain unknown, the crypto community is aware of the common adversary between both establishments. Ripple has been in a lengthy legal battle with the US Security and Exchange Commission (SEC) after the regulator accused it of selling XRP in an unregistered security offering. Coinbase, on the other hand, is seeking the SEC to provide clear rules and proper classification for cryptocurrencies.

In a Twitter thread, Deaton outlined why the definitions of “investment” and a “contract” are fundamental to how the district would rule over the pending legal issue. Grewal responded to Deaton’s explanation, causing the hashtag “Relist XRP” to trend again on Twitter.

Grewal’s recent body language suggests improving cordiality between Coinbase and Ripple. He has severally expressed support for Ripple’s legal opinion in recent weeks. His establishment, Coinbase, has also recently filed an amicus brief in support of Ripple. Despite the growing romance between both establishments, the call for relisting XRP remains unanswered.

The recent meeting by both CLOs has once again raised users’ hopes, especially those of XRP holders in the US. However, some respondents expressed wariness over the lingering issue, noting that speculations and insinuations make them anxious as the cycle seems endless.

The XRP token has been in the news for a while now, having faced several legal battles over the past few years. The most recent legal battle is with the SEC, which accused Ripple Labs of selling XRP in an unregistered security offering. This led to Coinbase delisting XRP from its platform, citing the SEC’s enforcement action as the main reason.

The XRP community has been campaigning for Coinbase to relist the token, and their hopes were raised after seeing a tweet from Coinbase CLO Paul Grewal. Grewal’s tweet showed him hanging out with Ripple CLO Stuart Alderoty, and thanking him for having him over. This has led to speculation that Coinbase may soon relist XRP.

Despite the speculation, the details of their meeting remain unknown, and the call for relisting XRP remains unanswered. However, Grewal’s recent body language suggests improving cordiality between Coinbase and Ripple. He has expressed support for Ripple’s legal opinion in recent weeks, and Coinbase has filed an amicus brief in support of Ripple.

While some XRP holders are hopeful that Coinbase will relist the token, others are wary of the lingering legal issue. They note that speculations and insinuations make them anxious as the cycle seems endless.

Martin Reid

Martin Reid

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