Coinbase CEO Brian Armstrong Says He Was Met With an “Icy Reception” When Chatting With SEC’s Gensler

Brian Armstrong Coinbase SEC
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Sarah Wynn
Author Categories
About Author

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Source: Coinbase

Coinbase CEO Brian Armstrong said he was met with a “pretty icy reception” when chatting with Securities and Exchange Commission Gary Gensler about registering his exchange.

Armstrong said the exchange tried to get a meeting, and did meet virtually at some point.

“But unfortunately, it was frankly like a pretty icy reception, I would say,” Armstrong said on Wednesday at a Bloomberg Invest event

Armstrong then said Gensler directed him to talk to his lawyer.

Armstrong’s comments come a day after the SEC filed a lawsuit against Coinbase and said it was operating its platform while not being registered as an exchange, broker, or clearing agency. 

The regulator also charged the US crypto exchange for the unregistered offer and sale of securities related to its staking-as-a-service program. 

The SEC did not charge Coinbase executives in the lawsuit. 

The regulator also named 13 cryptocurrencies as securities, according to the complaint.  

A day before, the SEC sued crypto exchange Binance and its CEO Changpeng Zhao for multiple offenses, including misleading investors, unlawfully operating as an exchange, among other charges. 

Gensler has called on exchanges to register and recently said this month that they tend to be “rife with conflicts.” 

Campaign in Washington 

The SEC’s charges against Coinbase come a few weeks after the exchange released a new TV campaign to promote the future of crypto.

In a black and white and almost two-minute long video, Armstrong lays out the benefits of crypto and calls out its “naive view.”

“The naive view of crypto is that this is some speculative asset that people are trading and they’re going to lose their shirts,” Armstrong said. “That’s missing the forest through the trees.”

There are expected to be four ads total featuring Armstrong, which will appear on “popular Sunday shows” with a new chapter going out each weekend according to a release

More Articles

Blockchain News
South Korean Lawyer Indicted in $7.9M Crypto Scam Probe
Tim Alper
Tim Alper
2025-02-10 03:00:00
Blockchain News
Japan’s SBI Posts Record Crypto Profits; Aims for Nation’s First USDC Listing
Tim Alper
Tim Alper
2025-02-09 23:30:00
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors