Coinbase’s Big SEC Win – But Will It Help Their Struggling Stock?

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The United States Securities and Exchange Commission (SEC) has, at last, concluded its thorough review of Coinbase’s financial filings. To the company’s relief, they were not asked to make any amendments or restatements to the documents in question. How wonderfully anticlimactic!

This tedious process, which began with Coinbase’s initial public offering (IPO) in the distant spring of 2021, finally reached its resolution, marking what can only be described as a triumph for the cryptocurrency exchange, though one that’s not exactly going to make headlines for its excitement value.

SEC Gives Coinbase a Nod – But It’s Not All Roses

Paul Grewal, the Chief Legal Officer at Coinbase, couldn’t contain his joy (or was it just relief?) when he took to X (formerly known as Twitter) on April 15 to announce the joyous news. His words, dripping with the kind of enthusiasm only a lawyer could muster, went as follows:

“Today I’m happy to share that we’ve fully resolved – without restatements or amendments – a number of comments related to our disclosures that SEC sent us a little over two years after we were allowed to go public,” he posted. Ah, the sweet sound of regulatory approval, so rare and precious.

In a rather formal display, Grewal also shared a letter from the SEC’s Division of Corporation Finance. The letter revealed that the SEC had completed its review of Coinbase’s Form 10-K filings for the fiscal years ending December 31, 2022, and December 31, 2023. And no, we’re not talking about the latest blockbuster movie, but a report detailing Coinbase’s financial health. Yawn.

COIN, Coinbase’s stock, has experienced a miserable 29.2% drop since the start of the year. The Q1 of 2025 was particularly disastrous, the worst quarter since the catastrophic fall of FTX in Q4 2022. Ouch.

It’s no surprise really. Coinbase is caught in the middle of broader market woes, compounded by the ever-present economic impact of tariffs under the current administration. Because who doesn’t love tariffs, right?

As of the market’s closing bell, COIN had fallen by 0.57%. But wait—there’s more! Pre-market trading showed an even more delightful decline of 1.61%. Truly, the thrill of investing never ends. Stay tuned for the next episode of “Will Coinbase Ever Recover?”

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2025-04-16 14:12