- The SEC agreed to drop its case against Coinbase, signaling a major victory for the cryptocurrency exchange
- Ripple CEO Brad Garlinghouse praised the SEC’s new direction and celebrated the decision on Twitter
- The ongoing Ripple vs SEC lawsuit shares similarities with the Coinbase case and remains unresolved
On this Friday, the cryptocurrency market experienced what could be its most important legal victory to date. On February 21, 2025—Coinbase’s CEO Brian Armstrong announced on social media that the cryptocurrency exchange and the Securities and Exchange Commission had finally reached an agreement.
The result was better than expected for the cryptocurrency firm. According to Armstrong, the SEC has agreed to drop the case against Coinbase, leading to a major victory for the exchange. Moreover, the lawsuit was dismissed with prejudice, meaning that once it is settled, the SEC will not be able to reopen the case.
Ripple CEO Celebrates The News
Ripple CEO Brad Garlinghouse, likely pleased with the new SEC’s approach to cryptocurrency firms under the Trump administration, took to Twitter to celebrate the news. Only a few hours after the decision was made, Garlinghouse expressed his satisfaction with the outcome.
Garlinghouse praised the new direction of the Commission for its “clear interest in moving on quickly,” which he believes is an effort to distance itself from the practices observed during Gary Gensler’s tenure.
Brad Garlinghouse himself has a lot on the line—and a lot to benefit—from a faster and less combative Securities and Exchange Commission. After all, he is directly involved in the Ripple vs SEC lawsuit, which began in December 2020.
Despite not being directly linked to each other, the nature of the Ripple and Coinbase feuds with the SEC share a lot of similarities. Ripple and its top executives were charged by the commission for illegally offering unregistered securities through XRP sales. Brad Garlinghouse’s days at court are still not over, however. Recently, Ripple requested a 3-month deadline to provide its brief in the ongoing case.
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