Cryptocurrency53 minutes ago (Sep 09, 2021 03:40AM ET)
SEC vs Coinbase: Alex Mashinsky says Celsius will have to ‘wait and see’ on fallout
Support for Coinbase (NASDAQ:) and its CEO, Brian Armstrong, has been pouring from the crypto community since the company disclosed in a regulatory filing on Wednesday that it had received a Wells notice from the U.S. Securities Exchange Commission.
The regulator has threatened to sue the exchange over its proposed Lend program, which would offer 4% interest on customer holdings of the USDC stablecoin. Company CEO Brian Armstrong took to Twitter (NYSE:) on Sept. 8 to vent his dismay over the lack of clarity from the regulator as to why it believes the product is a security. Rival platforms Celsius and BlockFi offer similar products.
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