Coinbase Stock At Risk Due to Threat of SEC Lawsuit, Berenberg Says

The U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance could be a preview of what may be coming down the road for rival crypto exchange Coinbase (COIN), Berenberg analyst Mark Palmer wrote in a note on Monday.

“We observe that several of the details of the lawsuit that the commission filed against Binance echo those it previously filed against crypto exchanges Bittrex and Kraken, and we believe these cases in aggregate represent a preview of the action that is likely to be filed against COIN,” said Palmer.

Source: Coinbase (COIN) Stock At Risk Due to Threat of SEC Lawsuit, Berenberg Says