Coinbase was the latest victim of the US SEC, receiving a Wells Notice on Wednesday. In response, Ripple's CTO roasted the SEC in a series of tweets.
- Ripple CTO claims the SEC can’t tell what the rules are.
- XRP price soared over 19% in a week.
Ripple CTO Reatcs SEC’s Action
Also, the executive of Ripple questioned the SEC’s reasoning for the most recent enforcement action. And stated, “If the SEC protects American investors, imagine if they tried to hurt them.” Further, the lead attorney for Ripple, Stuart Aldorety, tweeted his thoughts on the SEC’s Wells Notice to Coinbase and posted “the enemy of my enemy is my friend.” Schwartz replied to this,
Obviously the SEC can’t tell you what the rules are. If they do, you’ll just comply with them.
Furthermore, Ripple’s native cryptocurrency XRP price increased by more than 19% in a week. Placing it first on the weekly top gainer’s list. XRP price gains may result in its winning path against the SEC. Also, the altcoin buzzed Crypto Twitter along with other hashtags such as #zkSync, #ShibaInu, and #Arbitrum.
At the time of writing, XRP traded at $0.438997 with a 24-hour trading volume of $2.21 billion. And holds a market cap of $22 billion.