Brian Armstrong, CEO of Coinbase, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 21st, 2025.
Gerry Miller | CNBC
Coinbase announced Friday that the Securities and Exchange Commission has agreed to drop its enforcement case against the company, pending the approval of its commissioner.
Shares of Coinbase rose 4% in premarket trading.
In 2023, the SEC charged Coinbase with operating an unregistered securities exchange and for failing to properly register its crypto staking program. However, the case was started under former SEC Commissioner Gary Gensler. The regulator is expected to take a more friendly stance to the crypto industry under President Donald Trump and Paul Atkins, the nominee for SEC Commissioner.
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