Coinbase Shares Jump 50% Following SEC Lawsuit
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The capitalization of US crypto exchange Coinbase has grown by more than 50% since the SEC filed a lawsuit against the platform.

During this period, its senior managers, including its CEO, Brian Armstrong, have actively reduced their positions in securities.

Last June 6, the regulator accused the company of offering unregistered securities in the form of various tokens and illegally combining three functions: as a broker, exchange and clearing agency, which are usually separated in traditional markets. The regulator also targeted the staking program Coinbase Earn.

On that day, the company's shares fell 9.1%.

On June 29, in response to the lawsuit, the platform accused the SEC of abuse of power. According to representatives of the exchange, citing Howey's evidence, the assets listed in the lawsuit are not investment contracts and therefore cannot be equated with securities.

The company has recalled that over the years it has complied with all regulatory requirements and has repeatedly sought direct advice from the SEC on the application of federal securities laws in connection with the digital asset industry.

The company's shares have completely eliminated losses following the SEC actions. As a result of the July 7 trading, growth in share value reached 52.5%, rising from $52.5 to $78.7.

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