Coinbase discloses receipt of Wells Notice "alleging violations of the federal securities laws" related to "aspects of the Company’s spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet."
- ie, SEC notice formally declaring the regulator’s plans to bring an enforcement action against the largest US crypto exchange
This will tarnish the crypto complex. Bitcoin dropped on Wednesday, US time, FOMC related 'twas said. Might have been some insider activity on this also.
Related - did anyone hear about the spruiker pumping BTC to $1m this week. I hope for the fools who listened that it didn't cost them too much.
The SEC is the U.S. Securities and Exchange Commission
