2024

when

Coin

<ul class="news-points">
 <li><strong>Coinbase’s Chief Legal Officer expresses skepticism over the Friday judgment on X.</strong></li>
 <li><strong>Paul criticizes the court’s reliance solely on SEC filings, undermining credibility.</strong></li>
 <li><strong>Judge Tana Lin ruled in SEC’s favor, classifying secondary token sales on Coinbase as securities.</strong></li>
</ul>
<p>Judge Tana Lin in the Western District Court of Washington, <a href="https://www.courtlistener.com/docket/63887980/119/securities-and-exchange-commission-v-wahi/" target="_blank" rel="noopener noreferrer nofollow">issued</a> a ruling on Friday stating that secondary token sales in question are securities, despite being traded on Coinbase, a secondary market. Following the ruling, a Twitter user <a href="https://twitter.com/TP8815/status/1764426758030254492" target="_blank" rel="noopener noreferrer nofollow">tagged</a> Paul Grewal, the Chief Legal Officer (CLO) of Coinbase seeking their comments.</p>
<p>In response, the CLO posted a thread on Twitter, expressing skepticism towards the judgment.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">All of this is to say that in seeking default the SEC was pushing against a completely open door. It’s an example why courts generally do not give collateral estoppel effect to default judgments in other cases. They are not worth anything as precedent or persuasion. 5/6</p>— paulgrewal.eth (@iampaulgrewal) <a href="https://twitter.com/iampaulgrewal/status/1764433345583407152?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 3, 2024</a>
  </blockquote>
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</figure>
<p>The CLO pointed out that default judgments like this one occur when the defendant fails to contest the allegations. As a result, the judge is compelled to accept th…</p>
<p>The post <a href="https://coinedition.com/federal-judge-rules-in-secs-favor-in-coinbase-insider-trading-lawsuit/" rel="noopener noreferrer nofollow">Federal Judge Rules in SEC’s Favor in Coinbase Insider Trading Lawsuit</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Federal Judge Rules in SEC’s Favor in Coinbase Insider Trading Lawsuit

Coin Edition

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