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COIN.US
id: 628

Coinbase (COIN) Unregistered Securities Case

  • Coinbase got an SEC's Wells notice over a securities law violation.
  • $COIN fell 14%, losing $2 billion in shareholder value.
  • Investors may suspect COIN of unlawful business practices, which led to their losses.
On March 22, 2023, Coinbase (COIN) said that it received a Wells notice from the SEC that made a “preliminary determination” to recommend an enforcement action against Coinbase for violations of federal securities laws.

On this news, $COIN fell over 14% and lost $2B of its market capitalization, seriously damaging shareholders.

Coinbase disclosed that the SEC gave Wells notice regarding an undefined portion of listed digital assets, staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet after a cursory investigation.

The fact of the SEC investigation makes Investors and Clients of Coinbase suspect that their rights could be violated, which led to investment losses.

The case is already under investigation by at least one of the reputable law firms.
Case Status
Inactive Investigation
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03/23/2023

Coinbase Global Inc

Coinbase Global, Inc. operates platform for crypto assets in the United States and internationally. It offers the primary financial account in the crypto economy for consumers; a brokerage platform...

    Ticker
    COIN.US
    ISIN
    US19260Q1076
    CIK
    0001679788
    Sector
    Financial Services
    Industry
    Financial Data & Stock Exchanges
    Country
    USA
    Address
    One Madison Avenue, New York, NY, United States, 10010