Crypto exchange platform Coinbase and Binance are being sued by the Securities and Exchange Commission for allegedly operating as an unregistered securities exchange. Yahoo Finance Live breaks down the details on the latest outlook for the crypto market.
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21 Comments
The SEC are a bunch of fools.
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tHIS business would be a lot more profitable if they just took the customer deposits, then spent them on marketing and paying politicians with it
Fml🤦
Even if they do win their fight with the SEC, the thing is, people are already slowly moving out of Coinbase. They only have 30k users per week according to the stats they have in Coinmarketcap which is pretty low considering their competition like Binance and Kraken that have millions. I guess you can't blame people for leaving though, its better to be safe than sorry.
Doesn't Coinbase have that NFT thing going on where they're asking for donations? I mean, seriously, when a company starts begging for money through NFTs, it's gotta be a red flag that they're on the brink of bankruptcy, right? farewell to clownbase! 🤣
I'm glad Coinbase is getting investigated. They're seriously the shittiest exchange right now. About time someone called them out on their BS.
Coinbase is in a tough spot, no doubt about it. They're desperate to stay afloat as a company. Just take a look at their stats, and you'll see a gradual decline. They're banking on some government support to save them, but if that doesn't come through, they might be headed straight for bankruptcy. It's interesting to note that Armstrong has been offloading his shares lately. One can't help but wonder if he's seeing the writing on the wall. 🤔
they're running low on cash to keep fighting the SEC. Just checked their financial papers, and damn, they've been in the red for four freaking quarters straight, losing billions like it's nobody's business. I mean, talk about being profit negative for four quarters in a row, that's a serious blow. That's why I'm convinced they won't make it out alive, no doubt about it.
I don't trust Coinbase anymore, especially when I heard that Brian Armstrong dumped ALL his shares. If the big boss is jumping ship like that, you know there's some serious trouble brewing. He's either got some inside scoop or he's just trying to get out before the whole thing goes belly up. Either way, it's not a good sign for Coinbase.
coinbase is straight up begging for this sec mess to be over 'cause if the govt gets on board with crypto, coinbase gonna be in the driver's seat and rolling in THE CASH. and let's be real, they're hurting for that dough right now with all the billions they've been losing…
Coinbase definitely deserves to be investigated. I mean, they're handing over user data to the IRS and even the ICE. How can anyone trust an exchange that's so willing to sell your personal information like that? It's a clear breach of trust, and it makes you question their integrity as a platform.
Let's not overlook the fact that Coinbase employees, including Armstrong himself, have been involved in insider trading for personal gains. It's puzzling to see Brian Armstrong being portrayed as a heroic figure in the crypto world when such unethical practices are taking place. It raises questions about his true intentions and integrity.
Seriously, folks need to get the heck out of Coinbase right now. They've gone and introduced these annoying system delays when users try to make withdrawals. It's pretty obvious that they're struggling with liquidity and reserves. I mean, come on, if they had their act together, they wouldn't be putting roadblocks in the way of people accessing their own funds.
Full of COIN sorters in the comment section.
So you know why