Coinbase Global Inc. (NASDAQ: COIN), the largest U.S. cryptocurrency exchange, is in a sticky situation after the federal judge overseeing the class action lawsuit filed by its shareholders ruled that the suit will proceed. The judge made a ruling that the allegations that Coinbase downplayed the likelihood that the U.S. Securities and Commission (SEC) would sue them, were credible. Coinbase was sued in June 2023 by the SEC for violating the U.S federal securities law.
The judge’s decision not to dismiss the suit has stunned the world of cryptocurrency, with many wondering about Coinbase’s transparency with its…
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