According to Berenberg analyst Mark Palmer, the recent SEC lawsuit against Binance could be a sign of similar action to come against rival crypto exchange Coinbase. The SEC alleges that Binance, its CEO Changpeng Zhao, and Binance.US offered unregistered securities to the public and violated securities law with its staking service. This led to a significant drop in crypto markets, including a 9.1% decline for Coinbase. Palmer estimates that 37% of Coinbase's net revenue could be at risk if the SEC targets its token trading and staking operations.
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SEC Lawsuit Against Binance Could Be a Preview of Action Against Rival Coinbase, Says Analyst
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