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Coinbase's Stock Plummets 86% After SEC Lawsuit Alleges Violation of US Securities Law

Coinbase, the largest publicly traded crypto company, has experienced a significant drop in value since its IPO in April 2021. The company was valued at nearly $100 billion when it went public on the Nasdaq, but its stock has since fallen to a market cap of $12.5 billion, an 86% decline, after being sued by the SEC for allegedly violating US securities law.

The decline of Coinbase reflects the wider crypto industry, which has seen prices collapse and enthusiasm wane since November 2021. The SEC lawsuit is an existential threat to Coinbase and may have wider implications for the entire crypto industry in the US if the company is found guilty.

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