The next is an excerpt from right this moment’s World E-newsletter.
A lot for a gradual information week.
Sooner or later after dropping 13 counts in opposition to Binance, the most important crypto alternate worldwide, the SEC set its sights on Coinbase.
These two instances solely share one frequent thread, but they’ll seemingly be grouped collectively by mainstream media retailers to make crypto the monetary boogeyman.
With Binance, there was an odor emanating from their C-suite for a while now, whereas Coinbase has been doing the identical factor since going public.
This isn’t the primary time Coinbase has been victimized by the SEC, not solely shifting the goalposts however altering the principles in the course of the recreation.
Coinbase was authorized once they IPO’d, and now they’re simply PO’d because the authorized monopoly that’s the SEC determined to flex its muscular tissues. Why the SEC didn’t give Coinbase a warning and require platform adjustments inside, say, 60 days additional illustrates their dangerous religion view of crypto.
The one upside for Coinbase is that they have a shot at profitable this case. It’s such an outrageous, egregious, preposterous lawsuit that Coinbase may rent Jackie Chiles and nonetheless come out with a call.
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