🔔🔔Crypto exchange Coinbase and CEO Brian Armstrong are in trouble again! A new class action lawsuit is coming their way, with plaintiffs alleging that Coinbase’s business model violates state securities laws. 😱

The lawsuit was filed by the Scott+Scott law firm on behalf of plaintiffs Gerardo Aceves, Thomas Fan, Edwin Martinez, Tiffany Smoot, Edouard Cordi, and Brett Maggard (from California and Florida, respectively). They argue that Coinbase knew that its digital asset sales violated state securities laws since its inception. 😨

The securities listed by the plaintiffs include Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland (MANA), Algorand (ALGO), Uniswap (UNI), Tezos (XTZ), and Stellar Lumens (XLM). 📜

This news is an important regulatory development for the blockchain industry. Although we remain optimistic about Bitcoin, we still need to remain concerned and vigilant about the regulatory attitudes towards other cryptocurrencies. 🔍🔍