BTCC
/
BTCC Square
/
CoindeskEN
/
Coinbase Stock Tanks on SEC Probe—But Analysts Call Hack Fears ‘Overhyped’
Coinbase Stock Tanks on SEC Probe—But Analysts Call Hack Fears ‘Overhyped’
11
2
COIN shares nosedived 12% after-hours as regulators circled—yet crypto traders barely blinked. The ‘security incident’ leaked 6,000 user credentials, but no funds moved. ‘Classic overreaction,’ quips one desk jockey. ‘Wall Street freaks out if a crypto exchange sneezes, while traditional banks launder billions and get a wrist slap.’
Behind the sell-off: An SEC subpoena probing staking services. Coinbase insists its program isn’t a security—setting up another legal showdown. ‘This is regulation by enforcement,’ snaps CEO Armstrong. Meanwhile, bitcoin holds steady at $66K. Priorities.
By:
