Why Bitcoin- And Ethereum-Related Stock Coinbase Is Getting Hammered
Portfolio Pulse from Henry Khederian
Coinbase Global Inc (NASDAQ:COIN) shares are down 12.16% after the SEC sued the company for allegedly facilitating the buying and selling of crypto asset securities since 2019 without proper registration. Crypto-related stocks are also trading lower this week following the SEC's lawsuit against Binance for U.S. securities violations.
June 06, 2023 | 3:17 pm
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Coinbase shares are down 12.16% after the SEC sued the company for allegedly facilitating unlawful crypto trading activities since 2019, which may negatively impact the stock price in the short term.
The SEC's lawsuit against Coinbase for allegedly facilitating unlawful crypto trading activities since 2019 has led to a significant drop in the company's stock price. This negative news may continue to impact the stock price in the short term as investors react to the legal proceedings and potential regulatory consequences.
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