{"id":19775,"date":"2022-07-26T10:06:21","date_gmt":"2022-07-26T17:06:21","guid":{"rendered":"https:\/\/marketdepth.com\/?p=19775"},"modified":"2022-07-28T10:24:27","modified_gmt":"2022-07-28T17:24:27","slug":"coinbase-plunges-after-announcement-of-sec-probe","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/coinbase-plunges-after-announcement-of-sec-probe\/","title":{"rendered":"Coinbase Plunges After Announcement of SEC Probe"},"content":{"rendered":"\n
Coinbase Inc. (COIN:NAS)<\/strong> shares plunged 15% intraday Tuesday after a report the company is facing an SEC probe that the company may have offered unregistered securities for sale.<\/p>\n\n\n\n The company is already facing a probe about an insider trading scheme of an ex-Coinbase product manager. <\/p>\n\n\n\n With all the turmoil in the cryptocurrency market and issues Coinbase has had, their stock is down almost 77% year-to-date.<\/p>\n\n\n\n \u201cI\u2019m happy to say it again and again: we are confident that our rigorous diligence process \u2014 a process the SEC has already reviewed \u2014 keeps securities off our platform. We look forward to engaging with the SEC on the matter.\u201d<\/p>Coinbase\u2019s chief legal officer Paul Grewal on Twitter<\/a>.<\/cite><\/blockquote>\n\n\n\n The SEC is analyzing whether cryptocurrency tokens should be designated as commodities or securities.<\/p>\n\n\n\n \u201cA digital token or crypto asset is a crypto asset security if it meets the definition of a security, which the Securities Act defines to include \u2018investment contract,\u2019 i.e., if it constitutes an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.\u201d<\/p>SEC Wrote<\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"Coinbase Inc. (COIN:NAS) shares plunged 15% intraday Tuesday after a report the company is facing an SEC probe that the company may have offered unregistered securities for sale. The company is already facing a probe about an insider trading scheme of an ex-Coinbase product manager. With all the turmoil in the cryptocurrency market and issues… View Article<\/a>","protected":false},"author":3,"featured_media":19383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,17,7,16],"tags":[],"acf":[],"yoast_head":"\n