Bitcoin on Nostr: Coinbase Defends Against SEC Lawsuit Amidst Industry Woes Coinbase, the ...
Coinbase Defends Against SEC Lawsuit Amidst Industry Woes
Coinbase, the cryptocurrency exchange co-founded by Brian Armstrong, remains one of the major players in the digital asset industry, even after many high-profile competitors collapsed or faced legal issues. Despite continued expansion and a push for diversification, Coinbase is wrestling with profitability challenges and regulatory pressures. Armstrong has actively lobbied for clearer cryptocurrency regulation in the U.S. and is awaiting a federal court judge's decision on whether a high-stakes lawsuit filed by the Securities and Exchange Commission (SEC) against Coinbase will proceed. The SEC alleges that the exchange listed unregistered securities, which Coinbase disputes, emphasizing the need for clear crypto regulations.
- Coinbase has been unprofitable for multiple quarters and is looking to expand beyond reliance on crypto trading revenue, including their role as custodians in newly launched bitcoin ETFs.
- The company faces a pivotal moment with the SEC lawsuit, which could impact its business operations significantly and is part of a broader conflict over how crypto assets are regulated in the U.S.
https://archive.is/20240114111532/https://www.wsj.com/finance/currencies/coinbase-co-founder-brian-armstrong-ce1617ce
Coinbase, the cryptocurrency exchange co-founded by Brian Armstrong, remains one of the major players in the digital asset industry, even after many high-profile competitors collapsed or faced legal issues. Despite continued expansion and a push for diversification, Coinbase is wrestling with profitability challenges and regulatory pressures. Armstrong has actively lobbied for clearer cryptocurrency regulation in the U.S. and is awaiting a federal court judge's decision on whether a high-stakes lawsuit filed by the Securities and Exchange Commission (SEC) against Coinbase will proceed. The SEC alleges that the exchange listed unregistered securities, which Coinbase disputes, emphasizing the need for clear crypto regulations.
- Coinbase has been unprofitable for multiple quarters and is looking to expand beyond reliance on crypto trading revenue, including their role as custodians in newly launched bitcoin ETFs.
- The company faces a pivotal moment with the SEC lawsuit, which could impact its business operations significantly and is part of a broader conflict over how crypto assets are regulated in the U.S.
https://archive.is/20240114111532/https://www.wsj.com/finance/currencies/coinbase-co-founder-brian-armstrong-ce1617ce