Brian Armstrong says Coinbase spent $50M fighting SEC lawsuit – and beat it

Friday D The SEC has agreed to exclude the case against the company with superstition, which means that it cannot be filed again.

This step, which is still subject to the approval of the SEC commissioners, is another signal that the Trump administration plans to be more friendly in Crypto than SEC under former leader Gary Jenker.

SEC CaseThe allegations filed in 2021 alleged that Crypto was asset security and Coinbase served as a registered National Security Exchange, Broker and Clearing Agency.

Coinsbase fought back, Argue, As part, the SEC did not clarify adequate rules related to crypto to sue them.

“I remember in 2021, a lot of people were advising on the matter and they were saying, ‘Not involved in the case with SEC, it’s about to spend a few million dollars,’. Coinbase CEO Brian Armstrong Dr. In a video he posted the X on Friday that the case was excluded. In the video, Armstrong also complained about SEC’s inspiration and strategy.

Armstrong said he fought because he believed he was saving the crypto industry in America.

“Many other companies did not have deep pockets like us,” he said. “And in the end we had to spend $ 50 million to protect this case” – proves how expensive the fight will be.

A Coinbes spokesperson made it clear that this amount was strictly included External legal feeNot the employee’s time.

On the one hand, Armstrong said that he still believes in the United States that “to pass the law for Crypto” to quadify the United States, or to read behind other nations.