Ripple CLO Says Coinbase Vs. SEC Is ‘Far From Over’, Here’s What’s Next
Summary
- Judge Failla denied Coinbase's motion to dismiss SEC's case, accusing the exchange of unregistered operations and unregistered sale of securities. - Ripple's CLO remains optimistic, stating that the legal battle is in its initial stages. - Coinbase's CLO expresses confidence in legal arguments and eagerness for discovery from the SEC. - The next steps for Coinbase involve a full discovery schedule and potential interlocutory appeal. - The legal proceedings between Coinbase and the SEC are expected to extend well over a year. - Coinbase might gain momentum from the discovery phase to strengthen its position for the summary judgment phase. - COIN traded at $256.7, down roughly -9% since the news broke.
