Bill Morgan Criticizes Coinbase’s Handling of XRP
Bill Morgan, a qualified lawyer from the UK and Australia, recently expressed his disapproval of Coinbase’s treatment of XRP. Here are the key points:
- Morgan accuses Coinbase of failing to distribute Songbird (SGB) tokens that were airdropped to its users, which he sees as a disservice to XRP holders.
- He criticizes Coinbase’s decision to delist XRP and its refusal to relist the coin, stating that it is inconsistent with the treatment of other cryptocurrencies labeled as securities by the SEC.
- Morgan highlights that Coinbase’s decision contradicts its own legal documentation on secondary market trading.
- Coinbase defended the practice of crypto secondary market trading when the SEC filed charges against them, arguing that it does not violate the Howey test.
- Morgan does not support Coinbase in its legal battle with the SEC and vows to remember their actions against XRP until the coin is relisted.
Despite supporting Coinbase in its legal battle with the SEC, Morgan remains critical of the exchange’s treatment of XRP.
Hot Take
Bill Morgan’s disapproval of Coinbase’s handling of XRP highlights the ongoing debate surrounding the delisting and relisting of the coin. It raises questions about the consistency of Coinbase’s decisions and its commitment to its users. The controversy surrounding XRP and its classification as a security continues to divide opinions within the crypto community.
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