As the grand tapestry of the crypto market unfolded, a most singular event transpired, akin to the first tender shoots of spring bursting forth from the earth. Coinbase Derivatives, that stalwart of the digital realm, hath filed with the venerable Commodity Futures Trading Commission (CFTC) to self-certify XRP futures, thereby bestowing upon investors a regulated, capital-efficient means to trade XRP, that most liquid of digital assets. Mark well, dear reader, for these futures contracts shall spring to life on the auspicious date of April 21, 2025.
This announcement, a beacon of hope in a landscape oft shrouded in uncertainty, emerges against the backdrop of a protracted and labyrinthine legal struggle between XRP, Ripple, and the U.S. Securities and Exchange Commission (SEC). That indefatigable champion of XRP, lawyer John Deaton, hath revisited the pivotal milestones in this regulatory odyssey, laying bare the trials and tribulations XRP hath faced in its quest for legitimacy.
- January 2019: A conclave of great import took place, as Coinbase convened with the SEC, wherein it was decreed, after meticulous scrutiny by the finest securities lawyers, that XRP was not, in fact, a security. This watershed moment paved the way for Coinbase’s listing of XRP, a testament to its unwavering commitment to regulatory rectitude. 🙏
- February 2019: XRP, now officially listed on Coinbase, was touted alongside USDC for international money transfers, its star ascendant in the firmament of digital assets. 🚀
- December 2020: In a move that beggared belief, the SEC unleashed a lawsuit upon Ripple, positing that XRP was, indeed, a security—a pronouncement that flew in the face of earlier analyses proffered by both Coinbase’s and the SEC’s own enforcement lawyers. 🤯
- July 2023: The inimitable Judge Analisa Torres rendered her verdict, declaring XRP free from the shackles of security classification. This triumph led to XRP’s triumphant re-listing on Coinbase and other exchanges, its reputation redeemed. 🎉
“Methinks, dear reader,” quoth Deaton, “that the seasoned securities lawyers at Coinbase, as well as those erstwhile SEC Enforcement lawyers of 2018, did NOT, in their collective wisdom, conclude XRP to be a security. Forsooth, the authors of the XRP Memo did NOT recommend enforcement, nor did they advocate for a cease and desist to halt the sale of XRP.” 🤓
Let us recap, dear friends, the XRP/Coinbase saga:
In January 2019, the @coinbase team paid a visit to the @SECGov, informing the SEC that Coinbase had subjected XRP to its digital asset Framework, and lo! XRP was deemed NOT a security. The Coinbase team, a veritable coterie of seasoned securities…
— John E Deaton (@JohnEDeaton1) April 4, 2025
Deaton, with his characteristic wit, didst highlight the absurdity of this grand farce, wherein vast resources were squandered on legal skirmishes that might have been averted by the simple provision of clearer regulatory guidance. And yet, despite the turbulence of yore, Coinbase’s novel XRP futures betoken a renewed faith in XRP’s regulatory standing, as well as a burgeoning demand within the rarefied realm of financial markets. 📈
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2025-04-04 10:08