The SEC Is Suing Coinbase -- Shares Are Plunging
Shares of (NASDAQ: COIN) are trading nearly 14% lower as of 10:36 a.m. ET today after the Securities and Exchange Commission (SEC) announced it is suing the large U.S.-based crypto exchange.
A day after suing the world's largest crypto exchange, Binance, on 13 different charges, the SEC continued its crypto crackdown by suing Coinbase. The news isn't entirely a surprise, considering the SEC issued a Wells notice to Coinbase earlier this year.
The SEC is alleging that Coinbase is running an unregistered securities exchange through its crypto trading operations and that the exchange did not register its crypto staking program with the SEC. Furthermore, the SEC claims that Coinbase has earned billions since 2019 by "unlawfully facilitating the buying and selling of crypto asset securities."
Source Fool.com
Coinbase Global Inc. Stock
Our community is currently high on Coinbase Global Inc. with 31 Buy predictions and 17 Sell predictions.
However, we have a potential of -33.76% for Coinbase Global Inc. as the target price of 157 € is below the current price of 237.0 €.
