Coinbase, a cryptocurrency exchange based in the United States, has been accused of remaining silent during the legal battle between Ripple 
$1 and the SEC. Legal experts argue that Coinbase is acting solely in its own interests. XRP lawyers Bill Morgan and Fred Rispoli have pointed out that the company is neglecting community interests. This controversy has reignited discussions regarding Coinbase’s approach to transparency.
Strong Criticism from XRP Lawyers
Bill Morgan, a lawyer closely following the XRP case, criticized Coinbase for its stance. According to Morgan, the exchange has remained silent throughout Ripple’s long legal fight with the SEC. He emphasized that Coinbase only raises its voice when it is directly targeted by the SEC.
Morgan also noted that Coinbase’s Chief Legal Officer, Paul Grewal, has adopted the same approach. Grewal has only made public statements when the company’s interests were directly threatened. This behavior has drawn backlash from many Ripple supporters.
XRP advocate Fred Rispoli made a more severe comment. Rispoli claims that all of Coinbase’s decisions are made with profit motives. He stated that the company acts solely for its benefit, disregarding the common interests of the community. Rispoli openly criticized Coinbase, declaring, “Everything this company does is based on self-interest.”
Legal Silence Ignites Controversy
Coinbase’s silence in the Ripple-SEC case has caused significant repercussions in the cryptocurrency world. The company’s practice of making statements only when facing legal pressure has been viewed as a lack of transparency. This passive approach has led to a loss of trust among cryptocurrency investors.
During this process, some members of the Ripple community found Grewal’s statements inadequate. Grewal mentioned that they support Ripple’s fight and that many individuals contributed during this process. However, these statements did not succeed in overshadowing the company’s prior silence.
Another legal expert, MetaLawMan, emphasized that Ripple has been left to fight alone. According to MetaLawMan, without the support of major players like Coinbase, Ripple has had to navigate its challenges independently. This situation highlights the weak solidarity of larger firms within the sector.
