SEC Saved Coinbase From The Fate That Befell Voyager, Celsius, BlockFi, and Gemini
Too Long; Didn't Read
Crypto shadow banks are companies that engage in bank-like activities such as borrowing & lending but obviously are not licensed banks. SEC’s decision to declare a lending program an unregistered security offering, unintentionally saved Coinbase from the same deadly blow that struck BlockFi, Celsius, Voyager, Gemini, and many others.