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Why did the SEC let Coinbase go public?

The SEC sued Coinbase on Tuesday for selling unregistered securities. So why did it allow the crypto exchange to go public in 2021?

Coinbase trader makes $25M on options bets day before SEC suit

The trader placed $100K in options bets against Coinbase on Monday morning. The company’s share price dropped nearly 19% just 24 hours later.

Coinbase wants the SEC to outline new regulations on crypto and digital tokens but the regulator says it’s completely beyond its statute.

Pepecoin investors are up in arms over Coinbase’s reference to Pepe’s alt-right past, creating a Twitter hurricane of ‘comical’ proportions.

Coinbase legal chief Paul Grewal sent a 23-page letter to the SEC explaining why its RIA proposal will harm the crypto industry.