Here we go again.
Crypto exchange Coinbase got slapped with two separate class-action lawsuits this week, less than two weeks after the announcement that the company was reportedly under SEC investigation.
On Friday, Decrypt reported that two separate law firms filed the cases and said Coinbase investors suffered losses because of the bankruptcy clause in its SEC filing, as well as recent reports from the SEC probe that found the company was offering trading services that should've been registered as securities.
"Imagine using Coinbase after all that crazy stuff," one Twitter user said online Friday. "I mean, there are many other exchanges like CoinEx, Bitfinex, etc."
Some investors apparently do plan to continue using the exchange, though, because one took to Twitter to advocate for what is, essentially, day trading.
Coinbase has been on thin ice for a while now. In late July, one company manager was arrested as he tried to flee the country. In June, the company began withdrawing job offers to applicants who had already accepted them.
In an industry that's already sucking up as much electricity as entire US cities, there's little room for sympathy from burned, broke investors.
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