Coinbase CEO Brian Armstrong tweeted that the company’s morale has improved after receiving a warning letter from the US Securities and Exchange Commission (SEC).
A Wells notice is a warning letter typically sent to inform companies or individuals that the SEC is planning enforcement action against them.
The SEC issued a Wells notice to Coinbase regarding stake and listing of assets.
Community reaction to Armstrong’s morale-boosting tweet was largely supportive, however, some of the comments were sarcastic. He was viewed by many as overlooking the SEC investigation and acting with pride and arrogance.
Coinbase’s future will depend on its ability to comply with regulations. And it remains to be seen whether Armstrong’s public display of confidence will ultimately help or hinder the company.
refer : LINK
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