Edward Snowden Predicts SEC Will 'Lose So Hard In Court' against Coinbase: Gensler Had To Approve Bitcoin ETFs 'With Tears In His Eyes'
Portfolio Pulse from Benzinga Neuro
Edward Snowden predicts the SEC will face a significant defeat in its lawsuit against Coinbase Global Inc. (NASDAQ:COIN), referencing a past incident where the SEC had to approve Bitcoin ETFs after a legal loss. The SEC's lawsuit accuses Coinbase of operating as an unregistered securities dealer, a motion recently upheld by the court. Snowden, a Bitcoin supporter, remains optimistic about Bitcoin's future despite current legal challenges and recent price movements.
March 28, 2024 | 1:06 am
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Coinbase Global Inc. faces a lawsuit from the SEC for operating as an unregistered securities dealer, a situation that Edward Snowden believes will end in the SEC's defeat.
Snowden's prediction of a significant defeat for the SEC in its lawsuit against Coinbase could boost investor confidence in COIN, potentially leading to a short-term positive impact on its stock price. However, the outcome of legal proceedings is uncertain, and investor sentiment can be volatile.
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