{"id":19085,"date":"2023-03-24T14:25:25","date_gmt":"2023-03-24T14:25:25","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-ceo-says-sec-did-not-offer-feedback-in-30-meetings\/"},"modified":"2023-03-24T14:25:25","modified_gmt":"2023-03-24T14:25:25","slug":"coinbase-ceo-says-sec-did-not-offer-feedback-in-30-meetings","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-ceo-says-sec-did-not-offer-feedback-in-30-meetings\/","title":{"rendered":"Coinbase CEO says SEC did not offer feedback in 30 meetings"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679667525128-49358b62-671f-4a55-ba30-b58c37897758-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679667525128-49358b62-671f-4a55-ba30-b58c37897758-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679667525128-49358b62-671f-4a55-ba30-b58c37897758-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679667525128-49358b62-671f-4a55-ba30-b58c37897758-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Coinbase disclosed a Wells Notice from the US Securities and Exchange Commission (SEC).<\/li>\n<li dir=\"ltr\">A Wells Notice usually comes before an enforcement action.<\/li>\n<li dir=\"ltr\">Coinbase CEO Brian Armstrong says the company isn\u2019t surprised with the SEC\u2019s move.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase<\/a> CEO Brian Armstrong has commented on the company\u2019s announcement that it had received a Wells Notice from the US Securities and Exchange Commission (SEC), saying via Twitter Spaces that the exchange wasn\u2019t entirely surprised at the regulator\u2019s action.<\/p>\n<h2 dir=\"ltr\">Coinbase had 30 meetings with SEC, without feedback<\/h2>\n<p dir=\"ltr\">As <a href=\"https:\/\/www.cnbc.com\/video\/2023\/03\/24\/coinbase-ceo-says-sec-notice-wasnt-entirely-unexpected.html\" rel=\"noopener noreferrer\" target=\"_blank\">reported<\/a> on CNBC on Friday morning, Armstrong and other executives say they had engaged with the SEC before.<\/p>\n<p dir=\"ltr\">\u201c<em>Over a series of 30 meetings in the last nine months, we met with the SEC and shared details of the business and answered every question<\/em>,\u201d the Coinbase CEO said.<\/p>\n<p dir=\"ltr\">According to Armstrong, Coinbase spent millions of dollars in legal fees as they tried to explain everything about its business, including digital asset listings and staking rewards. He added that the SEC did not provide feedback over the nine months, noting that the agency cancelled, at the last minute, a meeting it had set up for that purpose.<\/p>\n<p dir=\"ltr\">\u201c<em>That was the first feedback we got in 30 meetings. The day before that meeting they cancelled the meeting [and] we didn\u2019t know why. And then a few weeks later \u2013 boom, we get served with the Wells Notice<\/em>,\u201d he added.<\/p>\n<p dir=\"ltr\">On Thursday, Armstrong <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1638654496879575040\" rel=\"noopener noreferrer\" target=\"_blank\">tweeted<\/a> that the SEC reviewed Coinbase\u2019s business and approved its IPO.\u00a0<\/p>\n<h2 dir=\"ltr\">Coinbase stock plummets\u00a0<\/h2>\n<p dir=\"ltr\">The Wells Notice is a signal that the securities regulator is considering enforcement action against the largest US-based cryptocurrency exchange. Accordingly, investor reaction to the news saw the publicly-listed company\u2019s shares plunge to lows of $61.87.<\/p>\n<p dir=\"ltr\">The Coinbase stock was down nearly 15% over the past five days.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/coinbase-ceo-says-secs-notice-wasnt-entirely-unexpected\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Coinbase disclosed a Wells Notice from the US Securities and Exchange Commission (SEC). A Wells Notice usually comes before an enforcement action. Coinbase CEO Brian Armstrong says the company isn\u2019t surprised with the SEC\u2019s move. Coinbase CEO Brian Armstrong has commented on the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":19086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19085"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19085"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19086"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}