In solidarity, the crypto community has urged BinanceUS to relist XRP on its platform following charges leveled at Binance by the SEC.
In light of the recent charges against Binance, Edward Farina, the Head of Social Adoption for XRPHealthcare, and CEO at Alpha Lions Academy, asked BinanceUS, the US subsidiary of Binance, to relist XRP as an honorable act to safeguard the crypto industry and combat the US regulator.
Farina called for a united front against the US Securities and Exchange Commission (SEC), arguing that relisting XRP would send a powerful message of defiance against the SEC’s allegations.
BINANCE US SHOULD RELIST #XRP AS AN HONORABLE ACT
Let’s unite together to save the Crypto Industry and defeat the #SEC
— EDO FARINA 🅧 XRP (@edward_farina) June 5, 2023
Crypto Assets Guy asked Coinbase if they would delist all SEC-mentioned assets in a lawsuit against Binance.
Hey @coinbase are you delisting all the alleged “securities” cited on the Binance lawsuit?
I don’t think so right?
Now more than ever you should relist $XRP
— Crypto Assets Guy (@cryptoassetsguy) June 5, 2023
Farina’s tweet gained traction among supporters of XRP, who echoed his sentiment, emphasizing the need for a collective response to protect the digital asset.
Notably, this call for action comes after Changpeng Zhao (CZ), Binance’s CEO, questioned whether Gary Gensler, the chairman of the SEC, pays attention to the concerns voiced by the very consumers he claims to safeguard. This remark highlights the growing complaints against the SEC from the same investors the agency wishes to protect.
The catalyst for this movement was the Securities and Exchange Commission’s (SEC) legal action against Binance and its CEO, Changpeng Zhao, alleging a myriad of charges, including deception, conflicts of interest, lack of disclosure, and evasion of the law.
Recall that, BinanceUS previously delisted XRP, preventing its users from depositing the crypto as of January 13, 2021, shortly after the SEC filed a suit against Ripple Labs. After the lawsuit, the exchange joined other US-based platforms, such as Coinbase and Kraken, to suspend support for XRP.
However, recent developments have called to question the prudence of this move. Notably, the SEC recently called Algorand (ALGO) a security, but exchanges such as Coinbase have failed to delist the asset as they did XRP. The crucial question is whether these platforms will delist the crypto assets added to the SEC’s new list of securities or relist XRP to show fairness.