Crypto Winter Might Be Thawing: Coinbase Chief Legal Officer
Coinbase Chief Legal Officer Paul Grewal believes that the crypto winter may be starting to thaw, citing a recent legal victory for Ripple Labs as a sign of positive change in the industry. Grewal expressed his optimism in a televised interview with CNBC, stating that people are eager to shift their focus towards innovation and new technologies rather than legal battles. The legal victory for Ripple Labs led to a surge in the price of its native token, XRP, prompting Coinbase, Crypto.com, and Kraken Pro to reopen trading for the cryptocurrency.
Key Points:
- Ripple Labs achieved a partial legal victory in its ongoing dispute with the Securities and Exchange Commission.
- Coinbase Chief Legal Officer Paul Grewal believes this ruling is a positive development for the crypto industry.
- Following the ruling, Coinbase, Crypto.com, and Kraken Pro reopened trading for XRP.
- XRP’s price surged by more than 80% in response to the legal victory.
- Grewal believes that the industry is eager to focus on innovation and new technologies rather than legal proceedings.
Hot Take: The recent legal victory for Ripple Labs and the subsequent reopening of XRP trading by major exchanges suggests a potential shift towards a more optimistic future for the crypto industry. As the focus turns back to innovation and new ideas, it is likely that we will see increased activity and growth in the sector.
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