A Bloomberg intelligence analyst is estimating that top US-based crypto exchange platform Coinbase has a 70% chance of winning a motion to toss out the U.S. Securities and Exchange Commission’s (SEC) lawsuit against it.
In a new thread, Bloomberg analyst Elliott Stein says that before going into a court hearing on the matter, he believed that Coinbase would be able to dismiss the regulatory agency’s accusations regarding the violation of trading laws specifically, but not the SEC’s other claims against it.
However, Stein says that he left the hearing believing that Coinbase would win a full dismissal.
According to Stein, the reason for that is because he found Coinbase’s definition of “investment contract” more compelling compared to the SEC’s – a fact he believes will also defeat the regulator’s other claims against the crypto exchange.
“Coinbase 70% likely to win. Coinbase is likely to win this…
