🔴 Coinbase is back in court — investors accuse the exchange of data concealment and leaks
— A class action lawsuit has been filed against Coinbase (COIN) — shareholders accuse the exchange of causing them financial losses due to user data leaks and a concealed conflict with the UK regulator (FCA) 📉
— It is claimed that the incident involving bribery of support staff led to data leaks and a 7.2% drop in the stock price (to $244)
— Later, the shares bounced back to $266, but over the last week, they fell again to $263 (-3.2%)
📎 Interesting:
— Coinbase has already received 7 lawsuits just this month
— Potential compensations could reach $400 million
— The FCA had previously fined the exchange in the UK $4.5 million for working with 'high-risk clients'
— The initiator of the lawsuit claims: Coinbase has been hiding risks and misleading investors since its IPO in 2021
📉 Market impact — locally negative for centralized exchanges, especially given the growing interest in DEX against the backdrop of the Hyperliquid story.
Historical fact: in 2021, Coinbase became the first publicly traded cryptocurrency exchange in the US. Now — one of the most sought after.
Subscribe — and keep your finger on the pulse not only of the rates but also of the lawsuits 🔴
