Bloomberg Analyst Gives hope of SEC Lawsuit Dismissal in Coinbases’s Lawsuit

Bloomberg senior litigation analyst, Elliott Stein, has expressed confidence in Coinbase’s ongoing lawsuit against the SEC, forecasting a 70% chance of the exchange securing a full dismissal. Stein initially believed Coinbase could object successfully to certain SEC claims but was uncertain about allegations related to its staking rewards program and overall operational structure. However, after attending the hearing, he shifted his view, stating that he left thinking Coinbase would win a full dismissal. The SEC alleges that Coinbase, through its staking program, is offering and selling investment contracts, while Coinbase strongly refutes the claims. Stein sees the outcome as pivotal for the crypto industry, akin to the Ripple case ruling on XRP’s status as a security. (Source: Cointelegraph)