Lawyer: SEC v. Ripple Caused U.S. XRP Adoption to Stall for Nearly Three Years

Odaily Planet Daily News Attorney John Deaton stated in an article published on X (formerly Twitter) that the lawsuit filed by the US SEC against Ripple in December 2020 deprived XRP of its adoption in the US for nearly three years. Deaton’s comments come as Coinbase announced that it has acquired a minority stake in Circle and will work to “unlock additional utility and grow the USDC ecosystem.” Deaton reviewed the widespread use of Ripple and XRP in cross-border payments, saying that if it weren't for the SEC lawsuit, companies such as Coinbase might have shown similar interest in Ripple. The exchange was one of the main movers before the lawsuit forced Coinbase to delist XRP. (Cointelegraph) Earlier today, it was reported that Coinbase acquired a minority stake in Circle, and can also share part of the interest income of USDC in the future. Coinbase and Circle did not disclose how many shares Coinbase acquired in their blog posts. According to a person familiar with the matter, Coinbase did not Offered cash to Circle in exchange for shares. Additionally, Circle will deploy native USDC on 6 blockchains, bringing the total number of supported blockchains to 15.