The regulator’s warning comes the day after Coinbase (COIN) disclosed the SEC issued it a Wells Notice indicating a possible imminent enforcement action tied to the exchange listing of potentially unregistered securities. Coinbase’s Nasdaq-listed shares were hit hard by this news, slumping as much as 20% in early trading on Thursday. At the time of writing, they are have recovered around half of their losses, down 10% at $69.32.
Source: https://www.coindesk.com/policy/2023/03/23/sec-urges-investors-to-be-cautious-with-crypto-securities/?utm_medium=referral&utm_source=rss&utm_campaign=headlines