Trending : Coinbase CEO Says Company Battle With SEC Is Existential for Industry
July 31, 2023 at 02:15 pm EDT
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1351 ET -- Coinbase Group is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Coinbase Chief Executive Brian Armstrong sees his company's legal battle with the Securities and Exchange Commission as existential for the U.S. cryptocurrency industry after he says the regulator recommended the crypto exchange delist all tokens other than Bitcoin. Armstrong told the Financial Times the SEC made the request before it sued the company for operating as an unregistered securities exchange, broker and clearing agency. "They came back to us, and they said ... we believe every asset other than Bitcoin is a security," Armstrong said. "And, we said, well how are you coming to that conclusion, because that's not our interpretation of the law. And they said, we're not going to explain it to you, you need to delist every asset other than Bitcoin." Dow Jones & Co. owns Factiva. (matthew.walker@dowjones.com)
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides platform, which enables its users to engage in a variety of activities, including discovering, trading, staking, storing, spending, earning and using their crypto assets. The Company offers a suite of products and services that are designed to meet the distinct needs of its three customer groups: consumers, which includes individual retail user customers seeking to discover or trade crypto assets and engage in on chain activities; institutions, which are businesses that include market makers, asset managers, hedge funds, banks, wealth platforms, registered investment advisors, payment platforms, and public and private corporations; developers, which comprise of developers, creators, merchants, crypto asset issuers, organizations and financial institutions, and other groups building decentralized protocols, applications, products, or other services on chain.
COINBASE GLOBAL, INC. 
