The top legal executive of Coinbase has dismissed as baseless the allegations that the cryptocurrency exchange was averse to Solana, which he said Coinbase had spent millions of dollars to defend the blockchain network.

Coinbase Chief Legal Officer Paul Grewal made these comments in response to claims on X (formerly Twitter) about the exchange’s alleged hostility towards Solana.

Inside Story: How Coinbase Fights Back Against SEC

The exchange has been quietly resisting the US Securities and Exchange Commission’s contentious classification of Solana as a security.

“My team and I wake up every day thinking about how we defeat this outrageous attack,” Grewal declared in his response.

He emphasized that they were “all in” on this issue. The message was clear. They aren’t stopping, because they believe in SOL.

Technical Hiccups Fuel Community Speculation

Coinbase Solana network withdrawal and deposit delays have raised fresh controversy within the crypto community. The exchange, however, blames the problems on infrastructure issues. Skeptics, however, saw it from a different angle. Many people interpreted these technical issues as an indication that Coinbase favors Ethereum over Solana.

To this concern, Andrew Allen, a protocol specialist at Coinbase, intervened to address the situation. He said that the exchange “does not hate Solana.” He assured that more updates will come out next week, and hopefully things will get better.

Mixed Reactions From Crypto Giants And Influencers

Specialist in Coinbase protocols, Andrew Allen, also underlined that the exchange intends to improve rather than despise Solana. He added the conversation would include additional specifics about its intentions by the next week.

However, the reaction was far from unanimous. XRP supporters had much to say against the exchange, citing their delisting due to the Go to Source to See Full Article
Author: Christian Encila