Coinbase Scores Major Win as SEC Agrees to Drop Case Ripple Next?

On February 21, 2025, the SEC agreed to drop its lawsuit against Coinbase, pending a formal vote. The lawsuit, filed in June 2023, accused Coinbase of listing 13 unregistered securities, including SOL, ADA, and MATIC, and operating as an unregistered broker, exchange, and clearing agency. Coinbase, which handles $153 billion in quarterly trading volume, argued the SEC overstepped its authority. The SEC's decision follows a change in leadership and a shift towards pro-crypto policies under the Trump administration. This comes as US crypto ownership reached 50 million in 2024, up from 40 million in 2022. The SEC also recently paused its lawsuit against Binance and dropped an appeal on crypto broker-dealer rules. The crypto community believes the SEC's decision regarding Coinbase could influence the outcome of the ongoing Ripple lawsuit, which began in 2020 and concerns XRP's status as a security. XRP currently has a market cap of $32 billion. While a 2023 ruling offered a partial decision, the SEC appealed in 2024, and Ripple's response is due April 16, 2025. Though Ripple's Chief Legal Officer anticipates a swift resolution, legal sources suggest the SEC is prioritizing cases with tighter deadlines.