Coinbase Exposes SEC XRP Talks and NY Pressure to Label ETH a Security

By: bitcoin ethereum news|2025/05/09 09:00:02

Coinbase has released about 10,000 documents, hinting that the US Securities and Exchange Commission (SEC) internally discussed the security status of XRP. The documents also disclose that the New York State Office of the Attorney General’s Investor Protection Bureau Chief asked the SEC to file a brief on its argument related to ETH’s security status. In a recent update, CNF disclosed that Coinbase has been sued by the State of Oregon’s attorney general, Dan Rayfield, for facilitating the sales of unregistered securities. In that lawsuit, 31 tokens were listed as securities, including XRP and ETH. Meanwhile, its recent litigation with the US Securities and Exchange Commission (SEC) has come to an end after a joint stipulation was filed to dismiss the enforcement actions against Coinbase Inc. and Coinbase Global Inc. Months after this development, Coinbase has released 10,000 documents from the Freedom of Information Act request to several agencies, with some disclosing an internal discussion on the security status of XRP. According to the documents, a 2023 email discloses that the New York State Office of the Attorney General Investor Protection Bureau Chief Shamiso Maswoswe asked the Commission to file an amicus brief to support its argument that ETH is also a security. We would like to request that the SEC file an amicus in support of the argument that Ether is a security. Whether it is or not will not be dispositive in our case (we have authority over both securities and commodities) – but I think it would be beneficial to investor protection to get a court to hold that Ether is a security. Conversely, it wouldn’t be great (though again not dispositive) for the court to decline to find it’s a security. Argument on the ETH and XRP Security Status The argument on the security status of ETH intensified after the SEC, under the leadership of Gary Gensler, was sued by Consensys over its approach to regulating ETH. In their argument, Consensys pointed out that a former SEC Director of the Division of Corporation Finance, William Hinman, had already cleared that Ethereum is not a security. Meanwhile, the SEC had also referred to XRP as a security in a separate letter issued on December 9, 2021. As reviewed by CNF, the SEC expressed dissatisfaction with Ripple’s launch of Liquidity Hub without federal approval. Responding to this, Ripple highlighted that the SEC is not a prudential regulator. Prior to that, the Commission had indicated in a December 2020 lawsuit that Ripple raised $1.3 billion from the sales of XRP. In June 2023, Judge Analisa Torres ruled that the sale of XRP to retail investors did not violate federal securities laws. As detailed in our previous post, its sale to institutional clients was rather flagged as a violation of securities laws. Months ago, Coinbase filed a Freedom of Information Act (FOIA) request to uncover the financial implications of the SEC’s enforcement actions against crypto firms. As discussed earlier, the exchange’s Chief Legal Officer, Paul Grewal, highlighted that Coinbase was seeking details on the number of investigations, the total cost incurred, as well as the personnel and third-party contractors involved. Source: https://www.crypto-news-flash.com/coinbase-exposes-sec-xrp-talks-and-ny-pressure-to-label-eth-a-security/?utm_source=rss&utm_medium=rss&utm_campaign=coinbase-exposes-sec-xrp-talks-and-ny-pressure-to-label-eth-a-security

Where the thunder of legions falls into a hallowed hush, the true kings of arena are crowned in gold and etched into eternity. Season 1 of WEEX AI Wars has ended, leaving a battlefield of glory. Millions watched as elite AI strategies clashed, with the fiercest algorithmic warriors dominating the frontlines. The echoes of victory still reverberate. Now, the call to arms sounds once more!

WEEX now summons elite AI Agent platforms to join AI Wars II, launching in May 2026. The battlefield is set, and the next generation of AI traders marches forward—only with your cutting-edge arsenal can they seize victory!

Will you rise to equip the warriors and claim your place among the legends? Can your AI Agent technology dominate the battlefield? It's time to prove it:

Arm the frontlines: Showcase your technology to a global audience;Raise your banner: Gain co-branded global exposure via online competition and offline workshops;Recruit and rally troops: Attract new users, build your community and achieve long-term growth;Deploy in real battle: Integrate with WEEX’s trading system for real market use and get real feedback for rapid product iteration;Strategic rewards: Become an agent on WEEX and enjoy industry leading commission rebates and copy trading profit share.

Join WEEX AI Wars II now to sound the charge!

Season 1 Triumph: Proven Global Dominance

WEEX AI Wars Season 1 was nothing short of a decisive conquest. Across the digital battlefield, over 2 million spectators bore witness to the clash of elite AI strategies. Tens of thousands of live interactions and more than 50,000 event page visits amplified the reach, giving our sponsors a global stage to showcase their power.

Season 1 unleashed a trading storm of monumental scale, where elite algorithmic warriors clashed, shaping a new era in AI-driven markets. $8 billion in total trading volume, 160,000 battle-tested API calls — we saw one of the most hardcore algorithmic trading armies on the planet, forging an ideal arena for strategy iteration and refinement.

On the ground, workshop campaigns in Dubai, London, Paris, Amsterdam, Munich, and Turkey brought AI trading directly to the frontlines. Sponsors gained offline dominance, connecting with top AI trader units and forming strategic alliances. Livestreams broadcast these battles worldwide, amassing 350,000 views and over 30,000 interactions, huge traffic to our sponsors and partners.

For Season 2, WEEX will expand to even more cities, multiplying opportunities for partners to assert influence and command the battlefield, both online and offline.

Season 2 Arsenal: Equip the Frontlines and Command Victory

By enlisting in WEEX AI Wars II as an AI Agent arsenal, your platform can command unprecedented visibility, and extend your influence across the world. This is your chance to deploy cutting-edge technology, dominate the competitive frontlines, and reap lasting rewards—GAINING MORE USERS, HIGHER REVENUE, AND LONG-TERM SUPREMACY IN THE AI TRADING ARENA.

Reach WEEX’s 8 million userbase and global crypto community. Unleash your potential on a global stage! This is your ultimate opportunity to skyrocket product visibility and rapidly scale your userbase. Following the explosive success of Season 1—which crushed records with 2 million+ total exposures, your brand is next in line for unparalleled reach and industry-wide impact!Test and showcase your AI Agent in real markets. Throw your AI Agents into the ultimate arena! Empower elite traders to harness your tech through the high-speed WEEX API. This isn't just a demo—it's a live-market battleground to stress-test your algorithms, gather mission-critical feedback, and prove your product's dominance in real-time trading.Gain extensive co-branded exposure and traffic support. Command the spotlight! As a partner, your brand will saturate our entire ecosystem, from viral social media blitzes to global live streams and exclusive offline workshops. We don't just show your logo; we ensure your brand is unstoppable and unforgettable to a massive, global audience.Enjoy industry leading rebates. Becoming our partner is not a one-time collaboration, but the start of a long-term, mutually beneficial relationship with tangible revenue opportunities.Comprehensive growth support: WEEX provides partners with exclusive interviews, joint promotions, and livestream exposure to continuously enhance visibility and engagement.

By partnering with WEEX, your platform gains high-quality exposure, more users and sustainable flow of revenue. The Hackathon is more than a competition. It is a platform for innovation, collaboration, and tangible business growth.

Grab Your Second Chance: Join WEEX AI Wars II Today

The second season of the WEEX AI Trading Hackathon will be even more ambitious and impactful, with expanded global participation, livestreamed competitions, and workshops in more cities worldwide. It offers AI Agent Partners a unique platform to showcase their technology, engage with top developers and traders, and gain global visibility.

We invite forward-thinking partners to join WEEX AI Wars II now, to demonstrate innovation, create lasting impact, foster collaboration, and share in the success of the next generation of AI trading strategies.

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era — delivering real-time AI news, empowering users with AI trading tools, and exploring innovative trade-to-earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

Follow WEEX on social media

X: @WEEX_Official

Instagram: @WEEX Exchange

Tiktok: @weex_global

Youtube: @WEEX_Official

Discord: WEEX Community

Telegram: WeexGlobal Group

Nasdaq Enters Correction Territory | Rewire News Morning Brief

Tech Stocks are a Minefield

OpenAI loses to Thousnad-Question, unable to grow a checkout counter in the chatbox

What can achieve an AI shopping closed loop is platforms that already have a complete ecosystem, not AI companies that have to build everything from scratch.

Ethereum Foundation publishes: Restructuring the division of labor between L1 and L2, jointly building the ultimate Ethereum ecosystem

Ethereum Foundation sets a strong tone: L1 solidifies security and settlement base, L2 focuses on differentiated innovation, working together to break through fragmentation and build the strongest ecosystem.

Morning Report | Startale completes $63 million Series A financing; STS Digital launches structured cryptocurrency platform; Polymarket will charge a taker fee on almost all trading categories

Overview of Important Market Events on March 26

The most important thing in Web3 primary market investment

There is no perfect model, only builders who are respectful and responsible towards the market.

The strategic focus of cryptocurrency in reconstructing the international monetary system and the Chinese solution

Cryptocurrency has a significant impact on our country's international financial cooperation and creates great opportunities for enhancing our international financial discourse power. We must adapt to the new trends in the reform of the international monetary system, analyze the structural contradic...

Musk Poached Aave App's Web3 Prodigy

Aesthetic is a gift.

The Petro Order is Cracking. What Comes Next for the Middle East?

Ground War Begins, or Deterrence Takes Hold

ETF Fund Inflows Emerging, What's Still Missing for BTC to Fully Recover?

The market is entering a crucial phase of equilibrium.

Forbes Special Report: The Embrace of AI Agents in the Cryptocurrency Industry

AI agents are becoming the true native users of cryptocurrency; they do not need a beautiful interface, just a wallet and a payment track. This wave of "machine commerce" may be the most rational narrative in the crypto industry for years, or it may just be another round of hype in a new bottle.

Bitpanda, Vision Web3 Foundation, and Optimism Partner to Onboard European Financial Institutions to the Global Blockchain Economy

Vision Chain aims to address the long-standing infrastructure bottlenecks in the European financial sector

What will the early Hyperliquid prediction market look like?

Unleash the Imagination Space of On-chain Finance

Overseas VC's Two-Week Trip to China AI Leaves Them in Awe of Shenzhen Hardware

Delphi Labs founder's two-week deep dive into China's AI ecosystem: More bullish on hardware than expected, more bearish on software than expected, and observations on Chinese founders that flipped his prior beliefs.

Was CZ Also Rug Pulled? BNB Treasury CEA Industries Control Battle

CEA Industries' mNAV drops to 0.68, YZi Labs personally steps in to clean up the mess

WEEX AI Wars II: Enlist as an AI Agent Arsenal and Lead the Battle