Coinbase is currently embroiled in multiple legal challenges involving the U.S. Securities and Exchange Commission (SEC) and a new class-action lawsuit. The court recently denied Coinbase's request to dismiss the SEC case entirely, although it did dismiss the SEC's claims concerning the Coinbase Wallet, deeming it legal. However, the legality of Coinbase's staking program remains undecided, with further proceedings expected. Concurrently, Coinbase, led by CEO Brian Armstrong, faces a new lawsuit filed by individual complainants alleging that several digital tokens offered by Coinbase, including ALGO, MANA, MATIC, NEAR, UNI, SOL, XLM, and XTZ, are securities. This lawsuit accuses Coinbase of misleading statements that led to financial losses for the investors, and alleges that Coinbase admitted in its user agreement to being a securities broker.
Coinbase and its CEO Brian Armstrong face a new class-action lawsuit alleging that Coinbase admitted in its user agreement that it was a securities broker, but offered SOL, MATIC, NEAR, MANA, ALGO, UNI, XTZ, and XLM as illegal securities. https://t.co/ML4zJT1MWl
Coinbase accused of violating securities laws in new class-action lawsuit. https://t.co/oo3zAR4U30
.@coinbase has been hit with a new lawsuit alleging that $ALGO, $MANA, $MATIC, $NEAR, $UNI, $SOL, $XLM and $XTZ tokens are securities. https://t.co/GnBxf270PJ https://t.co/m1JLJOheti
Coinbase faces copycat class action suit asserting tokens are securities in echo of pending case https://t.co/vQ1FYPBItJ
BREAKING: New lawsuit against Coinbase claims that $ALGO, $XLM, $SOL, $MANA, $MATIC, $NEAR, $UNI, & $XTZ are SECURITIES. Crazy 🤔 https://t.co/G4z6Bze1M4
New lawsuit filed against @coinbase yesterday: - Brought by individual complainants - Claims ALGO, MANA, MATIC, NEAR, UNI, SOL, XLM & XTZ are securities, which complainants invested in due to alleged misleading statements by Coinbase - Claims they lost money investing in the… https://t.co/sevEOqCgbG
Coinbase vs SEC for dummies: SEC claimed 1. coinbase wallet bad / illegal 2. coinbase staking program bad / illegal Judge ruled 1. coinbase wallet good /legal ✅ 2. coinbase staking..still unsure🤔 Now CB preparing presentation to ask judge to dismiss #2 also, or go to trial. https://t.co/SPKZRGqYTe
Coinbase: Court Denied Request to Dismiss Rest of SEC Case Coinbase: Court Dismissed SEC’s Claims Over Coinbase Wallet
Coinbase: Court Denied Request to Dismiss Rest of SEC Case