Coinbase Criticized for Its Self-Serving Behavior During Ripple Labs' SEC Lawsuit

Bill Morgan, an XRP lawyer, sharply criticized Coinbase and its CLO Paul Grewal. He argued that the platform behaved in a self-serving manner

Bill Morgan, a XRP lawyer known for his insights on the industry, had sharp criticism for Coinbase and its CLO, Paul Grewal, for what he described as a self-serving approach, particularly during Ripple’s prolonged lawsuit with the U.S. regulator.

Bill Morgan, a XRP lawyer known for his insights on the industry, had sharp criticism for Coinbase and its CLO, Paul Grewal, for what he described as a self-serving approach, particularly during Ripple’s prolonged lawsuit with the U.S. regulator.

Morgan highlighted that the cryptocurrency platform remained largely silent throughout Ripple’s persistent efforts against the U.S. regulator. He noted how Coinbase only began to speak out against regulatory overreach when the platform itself came under legal scrutiny.

Morgan highlighted that the cryptocurrency platform remained largely silent throughout Ripple’s persistent efforts against the U.S. regulator. He noted how Coinbase only began to speak out against regulatory overreach when the platform itself came under legal scrutiny.

“Only now, after the SEC went after Coinbase, are they complaining about the SEC’s policies. It seems like they’ve decided to finally care about the fate of crypto in the U.S.,” Morgan stated.

Many in the XRP community expressed disappointment that Coinbase did not take a more active role during Ripple’s legal difficulties. They felt this lack of solidarity was evident as the company focused on its own agenda.

Many in the XRP community expressed disappointment that Coinbase did not take a more active role during Ripple’s legal difficulties. They felt this lack of solidarity was evident as the company focused on its own agenda.

“No one is asking Coinbase to be a charity, but you’d think another company in the same industry getting sued maliciously by the government for years would warrant a statement of support,” one user said.

Another added: “Coinbase could have made a difference in U.S. crypto regs if they had spoken out earlier. But they were too busy worrying about their own platform to care about the broader industry.”

Earlier this week, Fred Rispoli, another pro-XRP lawyer, also expressed concerns over Coinbase’s self-interest. He argued that financial gain remained the primary motivation rather than advancing broader industry concerns.

Earlier this week, Fred Rispoli, another pro-XRP lawyer, also expressed concerns over Coinbase’s self-interest. He argued that financial gain remained the primary motivation rather than advancing broader industry concerns.

“Everything this company does is purely out of self-interest. Not saying corps shouldn't look after the bottom line but don't pretend you were ‘for the people’ from Day 1 (b/c your ToS with customer restrictions is exactly the opposite of this).