Public

On July 25, 2022, Bloomberg reported that Coinbase is facing an SEC probe into whether it improperly let Americans trade digital assets that should have been registered as securities. 

Coinbase allowed Americans to trade digital assets that Coinbase knew or recklessly disregarded should have been registered as securities with the SEC. 

This misconduct and omissions subjected the Company to a heightened risk of regulatory and governmental scrutiny and enforcement action which led consequently to the SEC investigation.

On this news, the price of Coinbase’s stock fell by 21.08%, to close at $52.93 per share on July 26, 2022.

Coinbase Global Inc

Attorney Investigation

Mismanagement

Negligence

Breach of Fiduciary duty

Directors

Management

Stocks

Long

Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions. It also provides technology and services that enable developers to build crypto products and securely accept crypto assets as payment. The company was founded in 2012 and is based in Wilmington, Delaware.

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