Crypto exchange Gemini ridiculed the US regulator and its chairman in a video announcing the listing of XRP on its trading platform.
After much waits and teasers, the prominent US-based crypto exchange Gemini has finally listed XRP on its platform. Gemini announced this development in a recent tweet on X alongside a mockery video of the US regulator.
“Xcited to announce XRP is now available for trading on Gemini,” the crypto exchange proclaimed on X.
Xcited to announce $XRP is now available for trading on Gemini. pic.twitter.com/E9Xiv8BTo3
— Gemini (@Gemini) August 10, 2023
Gemini Ridicules SEC and Gensler
In the video accompanying the tweet, Gemini made a depiction of XRP defeating the US Securities and Exchange Commission (SEC) in a bout. It also included an image of the SEC chairman Gary Gensler saying, “Earth is a Security.”
Interestingly, Gemini depicted XRP migrating to the Moon in response to the supposed ‘earth is a security’ postulation from the SEC chairman.
Gemini’s witty video got the attention of the XRP community, particularly, prominent attorney Bill Morgan, known for his pro-XRP stance. Morgan showed ecstasy at the mocking depiction of the US regulator and its chairman.
“All the Earth is a security so XRP leaves for the moon. Very biting. Do Gemini and the SEC have history?” the lawyer remarked.
My favorite image. All the Earth is a security so XRP leaves for the moon. Very biting. Do Gemini and the SEC have history? https://t.co/P9MisziMl6 pic.twitter.com/vDyADKZEBp
— bill morgan (@Belisarius2020) August 10, 2023
Recall that Gemini co-founders Tyler and Cameron Winklevoss commented on the ruling that declared XRP a non-security, criticizing the SEC’s regulatory approach. The SEC had sued Gemini in January due to its embattled Earn product.
Meanwhile, in the official blog post detailing the listing, Gemini noted that it has added support for the XRP Ledger (XRPL) blockchain. By virtue of this addition, XRP becomes tradable on its API/FIX, mobile applications, and web portal.
The exchange also clarified that while traders can keep their XRP on the exchange app, XRP will be supported on its custody solution much later. Notably, the supported fiat currencies include USD, CAD, British Pounds, Euro, Hong Kong dollar AUD, and more.
XRP vs SEC
This latest move from Gemini puts the exchange on the prestigious list of other US-based exchanges that renewed XRP support post-lawsuit victory. However, since the US court judged that XRP is not security, the SEC has taken another step to upturn the decision.
As The Crypto Basic reported yesterday, the US regulator has filed an application seeking a review of the judgment delivered on July 13 in favor of XRP.
