XRP Lawyers Criticize Coinbase for Self-Serving Behavior During Ripple SEC Lawsuit

Bill Morgan, a prominent XRP lawyer, has launched a scathing critique against coinbase and its Chief Legal Officer, Paul Grewal. Morgan contends that Coinbase's behavior during the Ripple SEC lawsuit was self-serving, highlighting the platform's silence throughout Ripple's prolonged legal battle with the U.S. regulator. Morgan pointed out that Coinbase only spoke out against regulatory overreach when it faced its own legal scrutiny, suggesting a lack of genuine advocacy for the broader crypto industry.

Morgan's remarks have sparked intense debate within the crypto community, particularly among XRP supporters. Many argue that Coinbase's inaction during Ripple's legal difficulties demonstrates a lack of unity and collective responsibility within the industry. They believe that Coinbase could have played a more proactive role in shaping U.S. crypto regulations by taking a stance earlier in the process.

Fred Rispoli, another lawyer supportive of XRP, echoed Morgan's sentiments, asserting that Coinbase's primary motivation was financial gain rather than advancing broader industry concerns. Rispoli criticized the company's policies, which he believes prioritize profitability over user empowerment. He argued that these practices contradict Coinbase's public image as a digital asset-friendly service. Rispoli also noted that the company's public relations efforts did not align with its actual practices, further fueling the debate about its true intentions.

Rispoli's critique extended to Coinbase's strategic distancing from the legal fight, suggesting that the platform purposefully avoided involvement to preserve its market position. This raised deeper questions about whether excessive corporate self-interest undermines collective industry action and the potential for unified regulatory advocacy.

Paul Grewal, Coinbase's Chief Legal Officer, broke his silence to acknowledge the significance of the Ripple SEC lawsuit in combating aggressive U.S. crypto regulations. In an interview, Grewal praised Ripple's legal team for their persistent efforts, specifically mentioning Stuart Alderoty and John Deaton. However, many within the XRP community view Grewal's remarks as belated, given the prolonged nature of Ripple's legal battle. The interview also highlighted the importance of Ripple's legal efforts for the survival of the crypto industry in America, suggesting that Coinbase benefited from these efforts before facing its own legal challenges.

The recent dismissal of the Ripple SEC lawsuit marked a significant legal victory for the company. Ripple's CEO, Brad Garlinghouse, celebrated the win as transformative for the sector, emphasizing the importance of early resistance against overreaching policies. Critics now accuse Coinbase of neglecting this proactive approach until it was forced to participate. Industry participants are calling for increased unity to prevent recurring regulatory setbacks, believing that a proactive approach by Coinbase and other firms could have secured stronger industry-wide policies over time.

The emerging divide between XRP supporters and Coinbase has exposed internal tensions within the crypto community. While Grewal's recent acknowledgment of Ripple's efforts may indicate a subtle shift, many investors remain unconvinced. XRP lawyers Morgan and Rispoli argue that excessive corporate self-interest critically undermines collective industry action, suggesting that earlier advocacy could have better influenced U.S. crypto regulations.

Looking ahead, the resolution of the legal battle presents an opportunity for greater cooperation within the industry. Many experts urge firms to unite over regulatory challenges rather than acting solely on self-preservation. The community is closely watching to see if Coinbase is willing to strengthen its commitment to the broader crypto sector. The decision will have a significant impact on both regulatory progress and the future of decentralization.