Ripple Could Gain A New Ally Against The SEC, BitBoy

Crypto influencer Ben Amstrong, alias Bitboy, has dropped a hint regarding the ongoing XRP lawsuit. The influencer asserted that Ripple and XRP could get a new ally in the ongoing SEC lawsuit.

Following Bitboy’s assertion, the potential ally is the largest US-based crypto exchange, Coinbase, which recently filed a petition against the SEC.

Bitboy’s revelation follows a meeting between the chief legal officers of Ripple and Coinbase, Stuart Alderoty and Paul Grewal.

Recent Events Hint At Potential Coinbase And Ripple Alliance

Coinbase has been at cross-chairs with the SEC over the regulator’s approach to crypto regulation. This issue led Coinbase to sue the SEC in response to a Wells notice from the regulator alleging securities law violation.

Related Reading: Bitcoin On-Chain Transactions Reach New Heights, What’s Fueling the Surge?

Stuart Aderoty’s remark in response to Coinbase’s fight against the SEC led many to believe the two firms might align against the regulator. The recent statement by Bitboy and the meeting of the two lawyers further confirm these speculations. 

Although the specifics of the meetings remain unknown, both lawyers seemed excited about it. Grewal confirmed this by saying that they need to meet more often.

More so, Stuart Alderoty expressed his gratitude, adding that Ripple’s legal team spent time discussing with Grewal. This statement suggests the meeting was professional and involved Ripple and Coinbase, not just a chance encounter.

Why This Alliance May Be Imminent

Due to the scarce information about the meeting, the XRP community began speculating on an alliance between the firms. 

John Deaton, commenting on the meeting between the two attorneys, noted that survival in the US regulatory atmosphere could require a team-up with one’s enemy.

The alliance speculations follow advice from prominent personalities like US congress candidate January Walker and attorney John Deaton. These two have urged the crypto community to team up and fight against the SEC’s regulatory war on cryptocurrencies.

Coinbase’s recent lawsuit against the SEC asking the regulator for clear regulatory guidelines excited the XRP community and the broader crypto industry.

Moreover, Alderoty’s remark, “the enemy of my enemy is my friend,” shortly after Coinbase confirmed the Wells notice hinted at a potential alliance between both firms.

Featured image from Pexels and Chart from TradingView.com

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