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Breaking: Coinbase Insiders Including CEO Used Inside Information to Avoid $1 Billion in Losses

A Coinbase investor has filed a lawsuit in Delaware Chancery Court, accusing insiders, including CEO Brian Armstrong, of using insider information to avoid $1 billion in losses during the stock's public listing in 2019. The investor seeks the return of "ill-gotten gains" from Armstrong and other Coinbase executives.

Another lawsuit was also filed against Coinbase in federal court in San Francisco, accusing the company of violating Illinois' biometric privacy law by collecting fingerprints and face templates of customers without their consent. These developments come amid a legal battle between Coinbase and the US SEC over crypto regulations.

Coinbase Brian Armstrong SEC
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