The billionaire television star/professional team owner suddenly sold every bit of crypto he owns.
He got an email earlier this week and within minutes sold it all.
What did that email say?
Mark Cuban says the SEC is trying to regulate Coinbase through litigation and urges CEO Brian Armstrong to ‘go on the offensive’
Mark Cuban on Wednesday told Coinbase CEO Brian Armstrong to “go on the offensive” against the Securities and Exchange Commission after the agency threatened to sue the crypto exchange.
“Brian, this is ‘regulation via litigation.’ They aren’t capable of working through this themselves and are afraid of making mistakes in doing so,” the billionaire entrepreneur said in a tweet. “You have to go on the offensive.”
Cuban’s tweet came in reply to a thread by Armstrong laying into the SEC, saying the agency threatened to sue Coinbase if it went ahead with offering a new interest-bearing product called Lend.
“Some really sketchy behavior coming out of the SEC recently,” said Armstrong. “Ostensibly the SEC’s goal is to protect investors and create fair markets. So who are they protecting here and where is the harm?”
Many in the crypto industry agreed with Cuban. Jerry Brito, a prominent lobbyist, tweeted that Coinbase ought to let the SEC sue the company, and get legal clarity through the courts. – Source
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