According to ChainCatcher, Coinbase asked the judge for permission to appeal its lawsuit against the SEC in advance because the SEC recently appealed the ruling in the Ripple case. Coinbase hopes to ensure that the Second Circuit Court can fully understand the case by submitting an appeal at the same time. The exchange hopes to review the applicability of the "Howey Test" in digital assets, which is the traditional standard for determining securities. Although the SEC has requested to dismiss Coinbase's appeal, the judge has not yet ruled on it.

Industry experts said that the SEC's appeal in the Ripple case strengthened Coinbase's argument and believed that it was a wise move.