Don’t Mess with The SEC Unless You Want to Lose

Tuesday, September 21, 2021 at 2:48am

The SEC is pulling out the big guns. CEO Brian Armstrong sent out a tweet that the SEC has threatened to sue over the crypto exchange’s new lending program. The tweet riled up populist anger against the SEC in his twitter tirade. It was then confirmed that the launch would not be dropped by Armstrong. The move by the SEC should be seen as a significant warning sign that they intend on going head to head with crypto-related businesses. At the same time as Armstrong announced the abandonment of this lending program, they just launched their Coinbase Prime product aimed at institutional investors. Next time don’t bring a knife to a gunfight Armstrong.