SEC Sues Coinbase, Binance: Ripple CEO Unveils Deeper Reason

• The US Securities and Exchange Commission (SEC) recently filed lawsuits against two of the largest cryptocurrency exchanges – Binance and Coinbase – alleging them of selling unregistered securities.
• Ripple’s CEO Brad Garlinghouse believes that there is a deeper reason behind the SEC’s actions, as they failed to mention XRP in their lawsuit.
• He believes that the regulator is trying to make a point by going after these two exchanges, as they are both part of the new wave of digital asset trading platforms, such as FTX.

The Recent SEC Lawsuits

The US Securities and Exchange Commission made its way into the headlines in the past two days, by going after two of the largest cryptocurrency exchanges, alleging them of selling unregistered securities. While the SEC Chair claims these actions are for the greater good of investors, Ripple’s CEO believes there’s another reason.

Allegations Against Binance and Coinbase

In the span of just 24 hours, the SEC launched two high-tier lawsuits against two of the industry’s most prominent heavyweights – Binance and Coinbase. Although they have some differences in the details, both lawsuits are quite similar in their core as they allege that the two exchanges are selling (and issuing in the case of Binance) unregistered securities in the form of various digital assets such as BNB, BUSD, SOL, MATIC, ADA and others. Interestingly enough, XRP was not mentioned among them despite being part of a legal battle between Ripple and SEC for more than 2 years now.

Ripple CEO Believes There is More Behind It

Not agreeing with Gary Gensler’s official story that this move from SEC is pro-innovation; Brad Garlinghouse asserted that there must be another motive behind this aggressive behavior from regulator’s side. He believes that they might be trying to make a point by targeting these two massive crypto firms – who are both part of new wave digital asset trading platforms like FTX – instead going after XRP itself head on.

Why does it Matter?

This recent move from SEC has far reaching implications for both Binance and Coinbase – but also other players in digital asset space at large. In order to make sure everyone is playing on level field; regulators need to clearly define what falls under security definition so companies can adjust accordingly or else many projects may face similar fate at hand if found guilty by law enforcement agencies for similar allegations regarding unlicensed sale or issuance of security tokens .


Overall it remains unclear what will happen next when it comes to this case but one thing is certain: This decision could shape how we look at regulation surrounding cryptocurrencies for years to come depending on how things play out which makes it very important regardless where you stand on subject matter itself .