“Coinbase shareholder Vanduo NGO sued and its management for concealing bankruptcy risks. About it writes Cointelegraph with reference to the claim of February 18. According to the case file, Coinbase did not tell the customers that their funds may become part of the competitive mass in the event of bankruptcy of the company. In this case, retail investors turn into unsecured creditors, threatening the preservation of their assets. The plaintiff also noted that before IPO was held in April 2021 […]”, – WRITE: Businessua.com.ua
Coinbase shareholder Vanduo NGO sued and its management for concealing bankruptcy risks. About it writes Cointelegraph with reference to the claim of February 18.
According to the case file, Coinbase did not tell the customers that their funds may become part of the competitive mass in the event of bankruptcy of the company. In this case, retail investors turn into unsecured creditors, threatening the preservation of their assets.
The plaintiff also noted that before holding IPO In April 2021, at least 75 cases of cryptocurrency were collapsed, which is why investors lost access to their digital assets. Despite the statement of Coinbase management, the trading platform is not different in terms of such risks, says NGO.
The NGO stated that the company hid the facts of using corporate funds for its own trading operations. This practice, as noted, was intended to compensate for the fall in prices for cryptocurrencies, but bears high risks.
The shareholder also reminded the claim Sec against Coinbase since June 2023. Then the regulator accused the company in the listing of unregistered securities and the lack of a broker’s license.
The plaintiff requires a trial with the participation of jurors, compensation for losses and review of corporate governance of the company.
The defendants were Coinbase co -founder Fred Ersam, CFO ALESIA HAS, Operating Director Emily Choi and other representatives of the management and board of directors.
Recall that from December 2024 to January 2025, COINBase clients lost more than $ 65 million due to fraud using social engineering. One of the victims reported the theft of about $ 850,000.
The gun
Please wait …