SEC vs Coinbase: Alex Mashinsky says Celsius will have to 'wait and see' on fallout

SEC vs Coinbase: Alex Mashinsky says Celsius will have to 'wait and see' on fallout


Support for Coinbase and its CEO, Brian Armstrong, has been pouring from the crypto community since the company disclosed in a regulatory filing on Wednesday that it had received a Wells notice from the U.S. Securities Exchange Commission.

The regulator has threatened to sue the exchange over its proposed Lend program, which would offer 4% interest on customer holdings of the USDC stablecoin. Company CEO Brian Armstrong took to Twitter on Sept. 8 to vent his dismay over the lack of clarity from the regulator as to why it believes the product is a security. Rival platforms Celsius and BlockFi offer similar products.

Speaking to Yahoo! Finance on Sept. 8, Celsius Network co-founder and CEO Alex Mashinsky said that everyone in the crypto industry was looking for clarity:

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“I think we’re going through these murky waters right now and we need to get clarity and its going to take a little bit of time before we get the rules and we

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