Former SEC Enforcement Director "SEC Coinbase IPO approved, has nothing to do with this lawsuit"
A cryptocurrency media outlet. Reported. It is said that the SEC's alleged violation of the Securities Act, such as unregistered securities, filed against Coinbase and the approval of the past IPO are unrelated. Previously, Coinbase CEO Brian Armstrong protested immediately after the SEC complaint, saying, "The SEC approved the #Coinbase IPO in the past." In response, Stark said, "An #IPO is not a confirmation that a business is legitimate. The SEC's approval of an IPO is not a permit that the applicant will legally operate the use. It should include the phrase 'prohibited clause'." Stark had previously predicted that Coinbase would lose to the SEC.