Jack Dorsey Says Coinbase Should Stick To Bitcoin, Ditch Altcoins, And Of Course Elon Musk 'Doges' In
Portfolio Pulse from Chris Katje
The SEC alleges that Binance and Coinbase Global violated securities rules regarding cryptocurrency activities, leading to a lawsuit. Twitter co-founder Jack Dorsey and owner Elon Musk shared their thoughts on the matter, with Dorsey agreeing that Coinbase should focus on Bitcoin and sidechains. The SEC is suing Coinbase for operating as an unregistered exchange, broker, and clearing agency, causing Coinbase shares to fall.
June 06, 2023 | 4:50 pm
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Coinbase shares fell after the SEC accused the company of violating securities rules regarding cryptocurrency activities, leading to a lawsuit. The crackdown on cryptocurrencies outside of Bitcoin could force the company to focus less on growth initiatives like staking and more on the leading cryptocurrencies.
The SEC lawsuit against Coinbase for alleged securities rules violations has caused the company's shares to fall. The crackdown on cryptocurrencies outside of Bitcoin could force Coinbase to shift its focus from growth initiatives like staking to more established cryptocurrencies, potentially impacting its growth and revenue.
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