Bitboy, real name Ben Armstrong, has hinted that Ripple and XRP may have a new ally in their ongoing legal battle with the US Securities and Exchange Commission (SEC). Coinbase, the largest US-based cryptocurrency exchange, is thought to be a potential ally, having recently filed a petition against the SEC.
The revelation by Bitboy follows a meeting between Ripple’s chief legal officer, Stuart Alderoty, and Coinbase’s chief legal officer, Paul Grewal. Both lawyers appeared enthusiastic about the meeting, with Grewal stating that they should meet more frequently and Alderoty expressing his gratitude and confirming that Ripple’s legal team spent time discussing with Grewal.
Although the meeting details are unknown, the XRP community has begun speculating on a possible alliance between the two companies. This speculation is fueled by Coinbase’s disagreement with the SEC over the regulator’s approach to cryptocurrency regulation, which prompted Coinbase to sue the SEC in response to a Wells notice alleging securities law violations.
Soon after Coinbase confirmed the Wells notice, Alderoty said, “The enemy of my enemy is my friend,” hinting at a possible alliance between the two companies. This sentiment has been echoed by prominent crypto industry figures such as US congress candidate January Walker and attorney John Deaton, who have urged the crypto community to band together and fight the SEC’s regulatory war on cryptocurrencies.
The alliance speculations have gained traction in the XRP community, with many believing that survival in the US regulatory environment may necessitate collaboration with one’s adversary. The recent lawsuit filed by Coinbase against the SEC, requesting clear regulatory guidelines, has piqued the interest of the XRP community and the broader crypto industry.
If Ripple and XRP do gain a new ally in Coinbase, it may have ramifications for their ongoing legal battle with the SEC. This alliance could also represent a shift in the crypto industry’s approach to regulatory challenges, with firms banding together to combat overbearing regulatory policies.
Finally, the meeting of Ripple and Coinbase’s chief legal officers has fueled speculation about a possible alliance between the two companies in their ongoing legal battles with the SEC. While the meeting’s specifics are unknown, the XRP community and the broader crypto industry closely monitor developments and hope for a positive outcome.
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