Coinbase faces new lawsuit for allegedly deceiving investors
ChainCatcher news, according to Cointelegraph, the largest cryptocurrency exchange platform in the United States, Coinbase, and its CEO Brian Armstrong are facing a new class-action lawsuit from customers who claim the company's business model is illegal.The lawsuit was filed by the law firm Scott+Scott in the Northern District of California on behalf of plaintiffs Gerardo Aceves, Thomas Fan, Edwin Martinez, Tiffany Smoot, Edouard Cordi, and Brett Maggard (from California and Florida respectively), who allege that since Coinbase's inception, the company's sale of digital assets knowingly violates state securities laws.In the lawsuit, the plaintiffs claim that Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland (MANA), Algorand (ALGO), Uniswap (UNI), Tezos (XTZ), and Stellar Lumens (XLM) are all securities.