- Coinbase CEO Brian Armstrong once again debunked rumors about the exchange’s possible move to another country in a media interview.
- They started back in April 2023 and only gained strength after the SEC filed a lawsuit against the platform.
CEO of crypto exchange Coinbase Brian Armstrong said the exchange has no plans to leave the United States. The FT reports this, citing the CEO himself.
In an interview for the publication, he noted the following:
“It’s simply not possible at the moment. We don’t even have an emergency plan. We are staying in the U.S..”
The exchange’s CEO also said that Coinbase’s foreign licenses are primarily a tool for expansion in the global marketplace, not an escape.
The first rumors of the company’s possible move to another jurisdiction surfaced back in late April 2023. In early May, Armstrong tried to debunk them and reassure investors.
Then Coinbase said it was looking at the UAE as a potential international hub.
In early June, the U.S. Securities and Exchange Commission filed a lawsuit against the platform. The exchange’s operations have come under fire in 11 states.
Later in August, the exchange’s general counsel Paul Grewal stressed that the firm was preparing a motion to dismiss the lawsuit.
The firm is also a partner with a number of SSA-approved entities in applications to register spot bitcoin ETFs.. As a reminder, this deal involves the exchange of various information between its participants in order to protect investors.
In early July 2023, Coinbase shares jumped sharply after news of such an agreement with the BlackRock fund. The company went public in 2021.
The company became public in 2021.