SEC notice sent to Coinbase Global COIN by Coinbase CEO Brian Armstrong

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SEC notice sent to Coinbase Global COIN by Coinbase CEO Brian Armstrong

A Wells Notice was sent by the Securities and Exchange Commission to the Coinbase Global COIN on Wednesday. The agency is preparing to take enforcement action against Coinbase for allegedly violating securities laws.

What happened to Coinbase CEO Brian Armstrong, who responded to a tweet asking to explain the SEC's action in NFL terms. Coinbase said the SEC is taking action on an undisclosed number of its listed assets, as well as its staking service Coinbase Earn, its institutional platform Coinbase Prime, and its mobile wallet Coinbase Wallet.

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A new SEC lawsuit has been brought against celebrities such as Lindsay Lohan, Jake Paul, Soulja Boy, Austin Mahone, Kendra Lust, Lil Yachty, Ne-Yo, and Akon for allegedly promoting the Tron ecosystem and selling BitTorrent Token BTT without any disclosure to the public.

Coinbase is a coinbase that allows the trading of digital assets such as Bitcoin BTC USD and Ethereum ETH USD.

Price Action: BTC was trading at $27,401 at the time of writing, down 2.60% in the last 24 hours, according to Benzinga Pro. The shares of COIN dropped 8% in the extended session Wednesday, trading at $77.14.