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Crypto Bros Brawl: Coinbase Demands Secret Docs in Desperate Bid to Avoid SEC Smackdown… Because That’s Not a Recipe for Disaster at All!

BitcoinCrypto NewsEthereum Kevin Nelson October 5, 2024

A illustration of a courtroom scene, with Coinbase as the defendant in front of a judge's bench. The CFTC is depicted as a stern-looking figure holding onto documents, while SEC agents are shown trying to pry them loose. In the background, various cryptocurrency tokens (Solana, Cardano, etc.) are scattered about, some looking worried or distressed.

Don’t look now, but it seems the crypto bros are at each other’s throats. This time around, Coinbase is trying to strong-arm the Commodity Futures Trading Commission into handing over some documents that might help them defend against a Securities and Exchange Commission lawsuit. Because what could possibly go wrong with adding more regulatory bodies to this lovely mess? The exchange wants communications from the CFTC regarding 12 cryptocurrencies (because one wasn’t enough) that they claim are unregistered securities, because apparently someone forgot to tell Coinbase about all those pesky registration requirements.

Source: cointelegraph

Coinbase pushes CFTC for docs to defend against SEC
https://cointelegraph.com/news/coinbase-cftc-motion-to-compel-subpoenadocs-defend-sec-suit
Coinbase has petitioned a federal court to force the Commodity Futures Trading Commission to hand over any communication it had with several crypto token issuers to help it defend against a Securities and Exchange Commission suit. According to an Oct. 1 motion to compel, the crypto exchange wants the CFTC’s communications with the issuers of 12 cryptocurrencies that the SEC has alleged are unregistered securities that Coinbase sold. It also […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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