XRP Army thinks Brian Armstrong could be hinting at cryptocurrency relisting
Coinbase CEO Brian Armstrong has displayed support for Ripple in its fight against the U.S. Securities and Exchange Commission.
In a series of recent tweetsArmstrong writes that the company’s record is apparently “better than expected.”
Armstrong stressed that launching attacks against the crypto industry and hurting investors is “politically unpopular.”
The head of America’s largest exchange then channeled Ripple’s oft-repeated rhetoric that the SEC was hurting consumers instead of protecting them:
The irony is that the people they are supposedly protecting are the ones attacking them.
XRP re-listing rumors have new life
Armstrong’s tweets inevitably reignited rumors that Coinbase could potentially relist XRP on its platform.
The exchange moved to suspend XRP trading after the SEC filed a lawsuit against Ripple on Jan. 19, which triggered a massive price drop.
As reported by U.Today, Coinbase relying on rumors began to make the rounds on social media after XRP trading pairs started appearing on the company’s mobile app last month, but it ended up being a bug.
Despite its legal issues, XRP has remained resilient, with crypto mogul Mike Novogratz recently noting that the cryptocurrency has tripled in value since the agency filed its complaint.
Coinbase’s run-in with the SEC
Ripple started alighting itself with Coinbase after Armstrong publicly called out the SEC for threatening to sue the leading exchange over its yet-to-launch lending offering.
Even though the company has caved in to SEC demands and put the questioned product on hold, it looks like it hasn’t buried the hatchet with the formidable regulator.
Earlier this month, Coinbase proposed replacing the agency with a new cryptocurrency-focused regulator, arguing that the laws from the 1930s were not suitable for the “technological revolution.”
The exchange will need to convince Congress to pass legislation that will establish a radically different regulatory regime than the one it envisions.
