I can't fault the pro-crypto people for taking a victory lap on this one even looking at the likely long term outcome and realizing immediately that they missed the whole part about it still being a security when sold to the institutional investors and no ruling on the secondary market sales. Its incredibly foolhardy for Coinbase and their cohort to re-list it following this. They're asking for very obvious trouble and its clear their risk management department (and anyone with common sense in the organization) has no say in listing decisions.

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Jul 18Liked by Molly White

Clever title!

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“Well, it wasn’t clear enough for this judge”. Molly - do I detect a conciliatory tone at the end with the crypto and blockchain community? Seems the faction that wants regulatory clarify has compatriots across the spectrum — even in the major-web3-skeptic crowd!

Meanwhile, the judge hearing the SEC vs Coinbase case has been a lot more outspoken about lack of clarity by the SEC, to the point that many of the non-crypto commentators following these preliminary proceedings have been calling it a “smackdown”:


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