Class Action Lawsuit Accuses Coinbase of Illegal Securities Sales

Overview of the Situation

A new class action lawsuit has been filed against Coinbase, alleging that the company has been selling securities illegally since its inception. The lawsuit claims that tokens sold by Coinbase are, in fact, securities.

The Legal Battle

• Class Action Lawsuit: Accuses Coinbase of violating securities laws.
• Company Response: Coinbase denies the allegations and calls the lawsuit 'legally baseless.'

Conclusion: The lawsuit against Coinbase highlights the ongoing legal challenges faced by cryptocurrency platforms regarding the classification of tokens.