Coinbase Stock Falls As Exchange Faces SEC Probe

Coinbase stock sinks pre market as SEC announces to investigate exchange

Crypto exchange Coinbase’s stock dropped over 7% in pre market after SEC announced to investigate the crypto exchange.

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The US watchdog has launched a probe into exchange for allegedly offering securities on its platform.

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Earlier, the SEC accused a former Coinbase employee and two other people of insider trading practices.

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Coinbase denied allegations of listing securities on its platforms in a blog post titled, “Coinbase does not list securities. End of story.”

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Coinbase stocks are expected to fall further once the market opens.

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Analysts noted that the market’s assessment of digital assets’ future will determine their price in the present.

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Change in the outlook of the crypto industry relative to what is already expected will bring changes to prices.

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