The Ripple case ruling is still hot, the SEC has already starting to lose the COINBASE case as well. Consider that the ripple case has weakened the SEC itself.
Judge Questions SEC on Coinbase IPO
Even though the dispute between the SEC and Coinbase is not brand-new, the judge found question that may defend Coinbase. The court questioned the SEC as to why Coinbase's IPO had been approved at all if it was going against SEC regulation? The SEC is struggling to come up with a suitable response.
Coinbase stops staking and relists XRP.
To fight SEC, Coinbase is taking precautions. First of all, XRP has been relisted because it has been exempted from the authority of the SEC due to not being a security. Apart from this, coinbase has stopped staking facilities on its platform like Kraken because Kraken accepted defeat from the SEC instead of fighting.
SEC might not win against Ripple verdict
The SEC is no longer able to provide an explanation on its behalf due to its current state of Coinbase lawsuit. Therefore, the SEC has no proper plans to challenge the Ripple case verdict to the Second Circuit, which the agency lost due to the Hinman speech.
