Tyler Winklevoss Calls for Impeachment of Oregon AG Over XRP Security Claim in Coinbase Lawsuit

Tyler Winklevoss, co-founder of the crypto exchange Gemini, has criticized Oregon’s Attorney General Dan Rayfield over his legal action against Coinbase. 

This lawsuit, filed on April 18, claims that XRP and other digital assets are unregistered securities under Oregon’s state laws.

Winklevoss, along with other prominent figures in the crypto industry, has raised concerns about the validity of the lawsuit. They point out that a recent federal court ruling has already addressed the issue of XRP’s classification.

Maybe Oregon’s AG didn’t get the memo. A U.S. Federal judge already ruled that XRP is NOT a security. Impeach this clown 🤡 for wasting taxpayer money and blatantly defying the law. https://t.co/viuTwbMxov

— Tyler Winklevoss (@tyler) April 22, 2025

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Oregon’s Legal Action Against Coinbase

For further context, Oregon’s Department of Justice announced the lawsuit as part of an effort to address what it sees as a regulatory vacuum left by federal agencies. In its announcement, the department emphasized that federal regulators under the Trump administration had abandoned cases related to crypto regulation. 

As a result, state governments like Oregon’s are taking matters into their own hands. The lawsuit specifically targets Coinbase, accusing the platform of violating Oregon’s securities laws by listing XRP and other digital assets without proper registration.

This move by Oregon has sparked significant backlash, particularly because a U.S. federal judge had previously ruled that XRP is not a security. The ruling casts doubt on the viability of the Oregon lawsuit, leading critics to question the state’s legal approach. 

Tyler Winklevoss expressed his displeasure in an X post, calling for the Attorney General’s impeachment for ignoring the law and wasting taxpayer resources on a case that contradicts federal rulings.

Industry Reactions and Criticism

Winklevoss was not alone in his criticism of the lawsuit. Paul Grewal, Coinbase’s Chief Legal Officer, also voiced strong opposition. In a statement shared via social media, Grewal condemned the Oregon Attorney General’s actions, describing the arguments used in the lawsuit as outdated. 

He argued that they fail to reflect public opinion, technological advancements, and sound governance. Grewal further pointed out that the legal action is effectively continuing the work of the SEC under former Chairman Gary Gensler.

Grewal emphasized that the legal arguments behind the Oregon lawsuit are similar to those previously raised by the SEC, which have already been largely debunked in court. He underscored that Coinbase is prepared to defend itself against the lawsuit, which he considers to have no merit.

Additionally, Grewal criticized the Oregon government for attempting to regulate the global cryptocurrency industry through state-level enforcement actions.