#BTC Source: Market News


(Source: Wu Says)
According to Decrypt, multiple shareholders of Coinbase have filed a lawsuit in Delaware, accusing the company's executives (including CEO Brian Armstrong and director Marc Andreessen) of long-term concealment of compliance failures and data breach risks, while collectively selling $4.2 billion worth of stock during a period when the stock price was artificially inflated, suspected of massive insider trading. The lawsuit claims that Coinbase has been aware of anti-money laundering and KYC violation investigations for years, as well as third-party customer service channels being hacked to obtain sensitive user data, yet delayed the disclosure of related information. In addition to seeking tens of billions of dollars in damages, the plaintiffs are also seeking board seats. Last month, Coinbase announced its relocation from Delaware to Texas, citing dissatisfaction with the 'unstable rulings' of Delaware courts.
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