A recent meeting between Coinbase and Ripple Chief Legal Officers (CLOs) sparked speculations of a possible XRP listing. While responding to the post, many crypto enthusiasts speculated that the meeting might place XRP on the Coinbase marketplace again.
Others called on Coinbase to relist XRP to enable Ripple supports its fight with the US SEC. But amid the speculations and enthusiasm, an Australia-based attorney, Bill Morgan, responded to the tweet stating there won’t be a relisting.
Coinbase Won’t Relist XRP Due To The Meeting, Morgan
Coinbase CLO Paul Grewal sparked speculations when he shared his picture with Ripple Stuart Alderoty on Twitter. In the tweet, Grewal thanked Alderoty for welcoming him, stating they should meet more often.
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Stuart Alderoty also responded by thanking him for taking out time to chat with Ripple’s legal team. Notably, top shots in the industry, including CryptoLaw founder John Deaton and Australian-based lawyer Bill Morgan responded to the post.
While Deaton applauded the teamwork, tipping his cap to them, Bill Morgan stated that Coinbase is not a friend to XRP holders. Morgan mentioned that teamwork would ensure a successful win against a common foe. But he is skeptical that the exchange will relist XRP due to the meeting.
No a Coinbase XRP listing will not follow. Why would Ripple expect Coinbase to relist XRP when in the last few weeks Ripple decided not to use XRP in Ripple’s own liquidity hub service. The meeting was more likely about how Ripple could assist Coinbase in either its petition /1 https://t.co/2Dw2XxZrNm
— bill morgan (@Belisarius2020) May 4, 2023
Ripple also launched a Liquidity Hub solution to support businesses with liquidity from many top exchanges, over-the-counter desks, and market makers. But while listing the supported digital assets, Ripple added BCH, BTC, LTC, ETH, and ETC, but XRP was nowhere to be found.
The absence of XRP sparked arguments and speculations about the reasons behind the decision. The incident informed Morgan’s reaction to the current speculation.
Coinbase Is Likely Asking For Ripple’s Assistance in the SEC Lawsuit, Morgan
While many enthusiasts ponder the reason for the meeting, Morgan believes it concerns the US SEC’s enforcement focus on Coinbase.
The lawyer believes that the discussions in the meeting may have centered on how Ripple can support Coinbase’s petition to the commission for a “Writ of Mandamus.” Secondly, it could also be a meeting to strategize how Coinbase can defend itself in the SEC enforcement action.
Morgan further reiterated that Coinbase would continue treating the coin differently from other assets on its platform that the SEC has alleged to be securities.
Notably, Coinbase delisted XRP in January 2021. The exchange disclosed that its decision stemmed from the SEC lawsuit against Ripple and its executives, Chris Larsen and Brad Garlinghouse.
Since then, there have been calls to relist the coin, but Coinbases has yet to yield to it. But according to pro-XRP attorney John Deaton, Coinbase may have decided to delist the coin due to its Initial Public Offering in 2021.
Featured image from Pixabay and chart from Tradingview