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Coinbase Accuses SEC of ‘Sketchy Behavior’ After Threat to Sue

Sept. 8, 2021, 11:41 AM

Coinbase Global Inc.’s chief executive officer blasted the Securities and Exchange Commission for “really sketchy behavior” after the company received a warning that regulators plan to sue.

In a Twitter thread, CEO Brian Armstrong said the SEC would be creating an unfair market if it tries to shut down its new lending product, which would allow consumers to earn interest on their crypto holdings.

Coinbase, the U.S.’s biggest cryptocurrency exchange, disclosed in a blog post that the SEC issued a Wells notice, meaning it may pursue enforcement action, and opened a formal investigation.

WATCH: Coinbase CEO Brian Armstrong calls out the SEC.
Markets: European Close.” (Source: Bloomberg)

“We’re being threatened with legal ...

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