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SEC vs Coinbase: Alex Mashinsky says Celsius will have to 'wait and see' on fallout

Published 09/09/2021, 01:19 AM
Updated 09/09/2021, 03:40 AM
SEC vs Coinbase: Alex Mashinsky says Celsius will have to 'wait and see' on fallout

Support for Coinbase (NASDAQ:COIN) and its CEO, Brian Armstrong, has been pouring from the crypto community since the company disclosed in a regulatory filing on Wednesday that it had received a Wells notice from the U.S. Securities Exchange Commission.

The regulator has threatened to sue the exchange over its proposed Lend program, which would offer 4% interest on customer holdings of the USDC stablecoin. Company CEO Brian Armstrong took to Twitter (NYSE:TWTR) on Sept. 8 to vent his dismay over the lack of clarity from the regulator as to why it believes the product is a security. Rival platforms Celsius and BlockFi offer similar products.

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