Last time the SEC came after Coinbase for a specific product or asset was a year ago, when it threatened to sue if Coinbase moved forward with its planned high-yield Lend offering. At that time, Ripple CEO Brad Garlinghouse, who has been fighting the SEC since 2020, tweeted a “Die Hard” meme at Coinbase CEO Brian Armstrong: “Welcome to the party, pal.” Mark Cuban also urged Armstrong to “go on the offensive.”
But 13 days after the SEC threat, Coinbase gave in and dropped the product.
This time, the company can’t back down so quickly. Delisting the tokens, as a source at Coinbase told me, would “undercut our whole position.”
‘Enforcement 40’ for 2020
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