Coinbase, a US-based cryptocurrency exchange, is being sued by the Securities and Exchange Commission (SEC), causing its shares to drop by over 15% in pre-trading.
This comes shortly after the SEC also sued Binance, alleging that the world's largest crypto trading platform misled customers and misdirected funds.
Following the news, Coinbase's shares fell by up to 12% on Monday, as the company trades on the Nasdaq. The situation is still developing.
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