Robinhood gets new legal threat from SEC as crypto crackdown continues [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
The so-called "Wells notice" that Robinhood got May 4 stated that the SEC's staff made a "preliminary determination" to recommend the the action due to violations of registrations as a securities broker and transfer agent. Its stock, however, rose more than 1% in early morning trading Monday after dropping by as much as 7% before the market open. Robinhood warned in its disclosure that a potential action from the SEC could mean a civil complaint and a public court proceeding that could end in a fine, a cease-or-desist order and other limitations on its crypto activities. "After years of good faith attempts to work with the SEC for regulatory clarity including our well-known attempt to ‘come in and register,' we are disappointed that the agency has decided to issue a Wells Notice," Robinhood's chief legal, compliance and corporate affairs officer Dan Gallagher said in a blog post The SEC has gone after a number of firms that let US customers trade cryptocurrencies, as part of
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News
- The Mooch, Andrew Yang, and crypto's tipping point [Yahoo! Finance]Yahoo! Finance
- Bitcoin Breakout: 2 Top Ranked Stocks for the Next Leg Higher [Yahoo! Finance]Yahoo! Finance
- The Mooch, Andrew Yang, and crypto's tipping point [Fortune]Fortune
- Fund Managers Brace for SEC Rejection of Ether-ETF Applications [Yahoo! Finance]Yahoo! Finance
- Fund Managers Brace for SEC Rejection of Ether-ETF Applications [BNN Bloomberg (Canada)]BNN Bloomberg
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- COIN's page on the SEC website