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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Jul 28, 2022 05:18 UTC
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Coinbase Stocks Plummet Amid SEC Probe And Other Controversies
Coinbase shares have dropped by more than 21% following the SEC probe
SEC is currently investing Coinbase for insider trading as well as for allowing the trade of tokens that it deems to be securities
Coinbase’s entertainment team is producing a three-part short film trilogy featuring the Bored Apes as animated characters come to life.
brekkie von 
brekkie von Brekkie Von DirectorAuthorDepartment Head 
, a major crypto influencer and the author of Rhyming Bitcoin, seems unhappy with the first part of the film. According to him, the platform is “diluting” the meaning of Bitcoin.
Series Of Bad News for Coinbase
Coinbase was also caught up in rumors regarding insolvency when three arrows capital 
three arrows capital - Investment platform 
and celsius network 
celsius network - Lending & BorrowingCryptocurrency investment went bankrupt. Reports also suggested SBF’s interest in the acquisition of the company.
Recently, SEC also initiated an investigation regarding the insider trading incident involving three individuals, including a former employee. The commission also claimed that the tokens listed on the exchange should be registered as securities, without which coinbase 
coinbase - [email protected] WalletCentralised Exchange cannot continue as it has been doing all along.
cory klippstein 
cory klippstein Cory Klippstein InvestorDeveloper/ProgrammerChief Executive OfficerBoard MemberAuthor 
, a major influencer, argued that the company has no process to list the securities. According to him, if a coin pays sufficient fees and a market is willing to support the price, Coinbase lists that coin.
Additionally, Ark Investments has sold its shares in Coinbase, which led to a more than 21% drop in the shares. It is now trading at $52.93.
Can Coinbase Survive SEC’s Probe?
Coinbase has been struggling with unfavorable conditions.
However, the exchange has received support from crypto leaders, influencers, and politicians. At the same time, SEC was criticized publicly by various influencers and Coinbase too for not declaring clear rules regarding the listing of securities.
According to crypto influencers, the SEC is engaging in regulation through enforcement and might be trying to get a win at the expense of proper regulation.
Yes 
No 
