1/5
Morning Update:
In recent events, the U.S. SEC has taken legal action against crypto exchange Coinbase, a day following a similar lawsuit against its competitor, Binance. While it's disheartening to witness SEC's aggressive stance towards the crypto industry, it becomes increasingly apparent that their objective is more combative rather than protective of investors.
Coinbase and Binance will likely consolidate efforts to challenge SEC in court, given the regulator's actions are deemed unjustifiable. It's noteworthy that Coinbase, during its public listing, had disclosed all relevant documentation to the SEC for thorough scrutiny, which essentially endorsed its business model. This makes the recent charges over offering staking products, mentioned 57 times in the reviewed documents, quite ironic🤦♂️
https://www.theblock.co/post/233270/sec-sues-coinbase-binance?utm_source=twitter&utm_medium=social