SEC lawsuit sheds light on Coinbase management
In a recent interview with Cointelegraph, venture capitalist Kevin O'Leary criticized Coinbase's strategy to deal with the regulatory environment current.
News Join us on social networksThe lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Coinbase Global on June 6 raises questions about the crypto exchange's approach to handling the ongoing crypto crackdown.
In a recent interview with Cointelegraph, venture capitalist Kevin O'Leary criticized Coinbase's strategy to deal with the current regulatory environment. “Its market capitalization has been decimated [by the SEC lawsuit], and management seems intent on continuing to attack the SEC over and over again,” the serial entrepreneur said in reference to the 17.4 drop. % of Coinbase shares last week. . O'Leary continued:
"I think at this point, if you're a shareholder in this company, you might want to make some changes. I don't think that's working as a strategy […] I'm not optimistic for management team there [...] I think the investors are done with that."
Coinbase has spent months campaigning for clearer U.S. crypto regulations amid increasing regulatory scrutiny. In a recent interview with The Wall Street Journal, Coinbase CEO Brian Armstrong said the exchange has met with the SEC more than 30 times in the past year without receiving feedback on the path to compliance.
Falling stock prices due to regulatory activity, such as the SEC litigation against Coinbase, is often used as a model for private damage claims alleged, so long as it is significant of misleading statements or omissions, Mark Kornfeld, a securities and regulatory attorney, told Cointelegraph. "...
In a recent interview with Cointelegraph, venture capitalist Kevin O'Leary criticized Coinbase's strategy to deal with the regulatory environment current.
News Join us on social networksThe lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Coinbase Global on June 6 raises questions about the crypto exchange's approach to handling the ongoing crypto crackdown.
In a recent interview with Cointelegraph, venture capitalist Kevin O'Leary criticized Coinbase's strategy to deal with the current regulatory environment. “Its market capitalization has been decimated [by the SEC lawsuit], and management seems intent on continuing to attack the SEC over and over again,” the serial entrepreneur said in reference to the 17.4 drop. % of Coinbase shares last week. . O'Leary continued:
"I think at this point, if you're a shareholder in this company, you might want to make some changes. I don't think that's working as a strategy […] I'm not optimistic for management team there [...] I think the investors are done with that."
Coinbase has spent months campaigning for clearer U.S. crypto regulations amid increasing regulatory scrutiny. In a recent interview with The Wall Street Journal, Coinbase CEO Brian Armstrong said the exchange has met with the SEC more than 30 times in the past year without receiving feedback on the path to compliance.
Falling stock prices due to regulatory activity, such as the SEC litigation against Coinbase, is often used as a model for private damage claims alleged, so long as it is significant of misleading statements or omissions, Mark Kornfeld, a securities and regulatory attorney, told Cointelegraph. "...
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