Brian Armstrong Defies SEC, Vows To Stay In US: 'There Is No Break-Glass Plan'
Portfolio Pulse from Murtuza Merchant
Coinbase CEO Brian Armstrong has expressed his commitment to continue operations in the U.S., even if it loses its ongoing lawsuit against the Securities and Exchanges Commission. Armstrong also expressed his firm's determination to challenge the cease and desist orders issued by ten state regulators against the company's staking service and to extend staking services across all 50 states in the United States. In the worst-case scenario, Armstrong suggested that Coinbase might have to delist the 13 crypto tokens listed as securities in the regulator’s lawsuit against the exchange.
August 04, 2023 | 4:03 pm
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NEGATIVE IMPACT
Coinbase's ongoing legal battles with the SEC and state regulators could potentially impact the company's operations and its ability to offer certain services. However, CEO Brian Armstrong remains committed to continuing operations in the U.S. and expanding services.
The ongoing lawsuit with the SEC and cease and desist orders from state regulators could potentially disrupt Coinbase's operations and its ability to offer certain services, such as staking. This could negatively impact the company's revenue and growth prospects. However, the CEO's commitment to continue operations in the U.S. and expand services could mitigate some of these potential impacts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100