Coinbase Faces New Lawsuit: Solana (SOL) and 7 Other Altcoins Impacted!

• Leading US cryptocurrency exchange, Coinbase, faces another lawsuit, this time involving eight altcoins.
• The plaintiffs in the new lawsuit claim that the tokens traded on Coinbase, namely ALGO, XLM, SOL, MANA, MATIC, NEAR, UNI, and XTZ, are in fact securities.
• The lawsuit was filed in the Northern District of California by the west coast law firm Scott+Scott, representing plaintiffs from California and Florida.

Coinbase, a leading US cryptocurrency exchange, is under legal scrutiny once again as it faces a new lawsuit involving eight altcoins. The plaintiffs claim these tokens are securities, marking another legal challenge for the crypto giant.

Coinbase Faces New Legal Challenge

The new lawsuit alleges that Coinbase has knowingly, deliberately, and repeatedly violated state securities laws since the inception of its business model. In response to these allegations, Coinbase issued a statement expressing full confidence in the judicial process and dismissing the claims as “legally baseless”. The company also stated its intention to fully address the allegations at the appropriate time.

Similarities with Ongoing Lawsuits

Interestingly, this lawsuit bears striking similarities to another case currently being litigated in the courts. The other lawsuit also alleges consumer damag... Read the full article for FREE at COINOTAG!