Coinbase, one of the largest crypto asset exchanges, drew criticism from XRP enthusiasts after it publicly apologized to Pepe holders for linking the meme-based crypto asset to an alt-right hate symbol but failed to apologize to XRP holders over its halt on XRP trading and not distributing Songbird (SGB) airdrop to XRP holders.

The San Francisco-based exchange's initial decision on XRP trading came after the SEC charged Ripple with violating securities laws in December 2020, leading to the halt of XRP trading on the exchange. Since then, Coinbase has ignored all calls to relist the sixth-largest crypto asset.

In response to the criticism, the exchange's Chief Legal Officer Paul Grewal issued an apology yesterday to Pepe enthusiasts. Repercussion to this was swift, with pro-XRP lawyer Bill Morgan calling out Grewal over his public apology, arguing how Coinbase has not apologized to XRP community members for halting the trading of the asset and failing to distribute the Songbird (SGB) airdrop to XRP holders.

The SEC's charges against Ripple last December spawned a narrative which manifests in the recent criticism leveled against Coinbase for the discrepancy between their apology for Pepe holders and no apology for XRP holders. One of the SEC's claims was that Ripple was engaging in the sale of unregistered securities, and Coinbase's decision to list, delist and not relist XRP seems to be a validation of the SEC's claims; something which Morgan argued against, noting that Coinbase should have relisted XRP if it uses a robust procces to do so.

The events of the past couple days will likely further this narrative and leave XRP enthusiasts questioning either Coinbase's motives or the validity of the SEC's claims.



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