After the SEC sued US-based cryptocurrency exchange Coinbase, CEO Brian Armstrong spoke to CNBC.
After the SEC sued Coinbase, CEO Brian Armstrong made statements on Twitter. However, Armstrong joined CNBC to discuss the case’s differences with Binance.
Coinbase CEO Clears Minds By Attending CNBC Broadcast
Brian Armstrong, CEO of Coinbase, joined CNBC to provide details about the lawsuit filed against his exchange. Armstrong drew attention to the key differences between the SEC’s lawsuit against his own company and that of rival exchange Binance.
Armstrong noted the timing of both companies facing regulatory action. He also implicitly referred to Binance, noting that the cases were quite different.
“The companies really couldn’t be more different,” Armstrong emphasized the difference between the two companies. When suing Coinbase, the SEC did not include fraud and abuse accusations as it did against Binance. Unlike Coinbase, Binance has been accused of fraudulent activities, indicating a different legal and regulatory challenge between the two companies. An important distinction Armstrong underlines is that company CEO Changpeng Zhao is personally named as the defendant in the Binance case.
Armstrong himself was not individually involved in the SEC’s lawsuit against Coinbase, suggesting that the SEC has a discrepancy between the leadership and corporate behavior of the two companies.
