XRP Holders' Attorney Is Ready To Go To Bat For Binance, Coinbase Users In Fight Against SEC

The U.S. Securities and Exchange Commission (SEC) has gone after two of the world's biggest crypto exchanges this week, filing suits against Binance and Coinbase and making grave allegations about both firms (y i k e s!).

Timeline of Basic-attention-token, Xrp

XRP Lawsuit: The U.S. Securities and Exchange Commission‘s (SEC) crackdown on the cryptocurrency market saw a high this week. The financial dog filled back to back lawsuits against the world's two biggest crypto exchanges, Binance and Coinbase.

Ripple General Counsel Stuart Alderoty, recently acknowledged the former United States Securities and Exchange Commission (SEC) Chairman, Late Harvey Pitt, in a tweet expressing gratitude towards his contribution. He added that Ripple owes a debt of gratitude to Harvey for providing a comprehensive description employed by the SEC to enforce compliance with securities laws.

Renowned crypto blogger and trader Cameron Fous recently made a bold prediction regarding the future of XRP. Fous took to Twitter to share his insights, claiming that XRP is currently setting up a remarkably bullish and explosive pattern within the crypto industry.

XRP News: The global cryptocurrency market is trading under increased selling pressure due to recent actions taken against the industry by the top financial watchdogs. The biggest of the cryptocurrencies has printed red indexes over the past 30 days.

In a market rocked by the Securities and Exchange Commission's (SEC) lawsuits targeting prominent cryptocurrency exchanges Binance and Coinbase, XRP has managed to hold its ground above the $0.50 level.

Xumm, a well-known wallet within the XRP Ledger community, recently made an announcement regarding its partnership with Uphold, a centralized multi-asset trading platform. This collaboration entails the integration of Topper, a fiat-to-crypto on-ramp solution developed by Uphold.

The SEC's arguments against Coinbase and most of Binance's litigation would be severely weakened if Judge Torres ruled that XRP tokens purchased on secondary marketplaces are not securities, according to lawyer James Murphy.

Reality has set in, with both Binance and Coinbase exchanges set to defend themselves against the charges brought by United States Securities and Exchange Commission (SEC) in court. In light of this, XRP holders' lawyer John Deaton is making a move that will also see him represent the users of these two exchanges by filing an amicus brief on their behalf.

Brad Garlinghouse, the CEO of Ripple, has criticized the crypto “pro-innovation” stance of the U.S. Securities and Exchange Commission (SEC) and its recent lawsuits against significant exchanges like Coinbase and Binance. Garlinghouse stated that the SEC was “throwing lawsuits at the wall” to distract attention from the debacle of bankrupted exchange FTX.

The ongoing legal battle between Ripple and the SEC has taken a crucial turn with Judge Torres' ruling on whether XRP tokens are securities. This decision carries significant implications for major crypto exchanges Coinbase and Binance, potentially altering the course of the industry.