“SEC sues Coinbase over exchange and staking programs, stock drops 22% premarket”
June 6, 2023
“The Securities and Exchange Commission sued crypto exchange Coinbase in New York federal court on Tuesday morning, alleging that the company was acting as an unregistered broker and exchange and demanding that the company be “permanently restrained and enjoined” from continuing to do so.
Shares fell 22% in premarket trading Tuesday. Coinbase stock had already fallen 9% on Monday, after the SEC unveiled charges against rival crypto exchange Binance and its founder Changpeng Zhao…”
So the government is trying to figure out a way to control bitcoin. What a surprise. Getting rid of coinbase is going to make the price of it increase not decrease. Make no mistake. That’s what this is. If they can’t control the currency they will attempt to control the hubs of exchange. The entire point of crypto is to remove government from money.
Let me tell you what’s coming next in the crypto world if all the sites like Coinbase get shut down. Peer To Peer trading in which only the users are involved. The government couldn’t stop P2P file sharing of music when Hollywood was in its heyday. They think they’re going to stop this when people actually make money from it? Now that’s hilarious.