Coinbase, one of the most influential U.S.-based crypto exchanges, is facing criticism for its passive stance during Ripple’s legal fight with the U.S. Securities and Exchange Commission (SEC). While the Ripple community fought a prolonged legal battle, Coinbase remained largely silent — a move that is now drawing backlash from prominent legal voices and XRP advocates.
XRP Lawyers Slam Coinbase’s Self-Interest
Attorney Bill Morgan, a vocal supporter of XRP holders, called out Coinbase for its failure to support Ripple during key phases of the legal dispute. Morgan stated that the exchange only raised its voice when it became the direct target of SEC enforcement.
He specifically pointed to Paul Grewal, Coinbase’s Chief Legal Officer, accusing him of making public statements only when Coinbase’s own interests were at stake. “Coinbase chose silence when it mattered most,” said Morgan, suggesting that the exchange’s actions were more about self-preservation than solidarity.
Fred Rispoli, another XRP-focused attorney, went even further in his critique. “Everything this company does is rooted in self-interest,” he said. Rispoli argued that Coinbase’s decisions are solely driven by profit motives, with little regard for community values or broader industry unity.
Silence Raises Transparency Concerns
Coinbase’s perceived indifference during the Ripple-SEC case has reignited debates over transparency and corporate ethics in the crypto space. Many investors and community members now question the exchange’s commitment to defending innovation and fairness in regulatory disputes.
While Paul Grewal eventually stated that Coinbase supports Ripple’s efforts and acknowledged contributions from many players in the industry, his comments did little to change public perception. For many, the damage had already been done.
As Dey There reports, Coinbase’s silence not only alienated parts of the XRP community but also highlighted the broader issue of insufficient collaboration among major crypto firms.
Ripple Was Left to Fight Alone, Experts Say
Legal analyst MetaLawMan echoed similar concerns, emphasizing that Ripple was left to fight an industry-defining legal battle largely on its own. He argued that if companies like Coinbase had shown stronger support earlier in the case, it could have influenced the legal narrative and public understanding.
The situation underscores a wider problem: despite their size and influence, many leading crypto companies hesitate to support peers unless directly impacted. As the industry continues to evolve under increasing regulatory scrutiny, the importance of unity and mutual advocacy becomes even more critical.
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