Get the latest tech news
Brian Armstrong says Coinbase spent $50M fighting SEC lawsuit — and beat it
Coinbase on Friday said the SEC has agreed to drop the lawsuit against the company with prejudice, meaning it cannot be filed again.
Coinbase fought back, arguing, in part, that the SEC hadn’t established clear enough rules concerning crypto in order to sue over breaking them. “I remember in 2023, a lot of people were advising on this and they were saying, ‘Do not engage in litigation with the SEC, it’s going to cost you tens of millions of dollars,’” Coinbase CEO Brian Armstrong said in a video he posted on X on Friday announcing that the suit was being dropped. Coinbase’s apparent legal victory aside, Armstrong said that he still believes that the US needs “to get legislation for crypto passed” to codify favorable regulations, or risk falling behind other nations.
Or read this on TechCrunch
