Sponsored Post • Created April 18, 2023 14:23

Big Eyes Coin Reaches $33.8 Million In Value Despite XRP’s Legal Troubles

In the last few years, the cryptocurrency industry has experienced significant advancements, with new tokens like Big Eyes Coin (BIG) gaining popularity and market acceptance. However, Ripple Labs Inc. and its digital asset XRP have had a tumultuous few years. XRP has been the subject of a legal battle with the United States Securities and Exchange Commission (SEC) regarding its status, resulting in its removal from various cryptocurrency exchanges, including Coinbase. With the lawsuit coming to a close, supporters of XRP are curious if Coinbase will reintroduce it to their platform.

Potential Re-Listing of XRP on Coinbase: What the Future Holds?

During an interview on the “Thinking Crypto” podcast, Coinbase’s Chief Legal Officer, Paul Grewal, discussed the possibility of XRP being relisted on the exchange. Grewal emphasized that any relisting would require legal action and would depend on the judge’s decision in the ongoing Ripple Labs Inc. litigation, their legal reasoning, and Coinbase’s assessment of whether the court would uphold the decision. He emphasized that, as a publicly traded company, Coinbase has a responsibility to proceed with caution when dealing with coins that are the subject of federal court litigation.

The XRP community had mixed reactions to Grewal’s statements, with some interpreting them to mean that Coinbase will reintroduce XRP if the Ripple vs. SEC matter is resolved. However, supporters of XRP continue to advocate for its relisting on Coinbase and other exchanges.

XRP’s Removal from Coinbase in 2021: A Look Back

In January 2021, Coinbase removed XRP from its platform shortly after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs Inc., the company responsible for the digital asset. The SEC alleged that XRP was a security and that Ripple had conducted an unregistered securities offering by selling XRP tokens. Consequently, Coinbase, along with other exchanges and some investment platforms, completely halted trading of XRP on their platforms.

Big Eyes Coin Surges with $33.8 Million Increase

The legal battle between XRP and the SEC has created a sense of uncertainty in the cryptocurrency market. As a result, some investors have diverted their attention to other cryptocurrencies, such as Big Eyes Coin. This shift in focus has resulted in a significant increase in the value of Big Eyes Coin, particularly during the ongoing legal dispute surrounding XRP.

A Guide to Big Eyes Coin: What You Need to Know

Big Eyes Coin is a new and emerging meme token that aims to make investing in cryptocurrencies less intimidating by incorporating a playful cat theme. Despite its lighthearted approach, BIG has ambitious goals of generating high returns for its users, as evidenced by the impressive $33.88 million raised in its presale.

In addition to its main coin offering, the Big Eyes team has also introduced tradable and mintable NFT Loot Box cards, which have garnered excitement from its community of Kitty Cuddlers. These NFTs can now be collected on OpenSea.

Although Big Eyes Coin has yet to be launched on the blockchain, the team behind this rapidly growing meme token announced that the presale phase will conclude on June 3rd, and the release of the token will be announced shortly thereafter.

The Bottomline

Big Eyes Coin has experienced a notable surge in value amidst the ongoing legal battle between the SEC and XRP. However, its increase in worth can also be attributed to a variety of other factors, such as growing demand and interest from cryptocurrency enthusiasts.

Similarly, the SEC-XRP lawsuit and Coinbase’s subsequent removal of the digital asset were significant events in the cryptocurrency industry. As the legal battle draws to a close, there is optimism that XRP will be reintroduced to Coinbase.