The U.S. Securities and Exchange Commission (SEC) has sought an extension from the appeals court to respond to Coinbase's appeal, citing the new crypto task force.
The Case Overview
Coinbase filed an appeal for an interlocutory decision previously ruled by a federal court. In response, the SEC has requested an extension until March 14, 2025, to file its reply. Coinbase has agreed to this extension.
Crypto Task Force and Its Impact
The SEC argues that the new crypto task force might significantly influence the case's outcome. The agency believes the task force's work could aid the resolution of the district court proceedings and potential appellate review, conserving judicial resources.
Coinbase's Q4 Growth Report
In Q4 2024, Coinbase reported a sharp increase in revenue, reaching $2.27 billion, exceeding expectations. This is due to the return of retail investors during the digital assets surge. Consumer transaction revenue reached $1.3 billion, increasing by 179% sequentially.
The SEC's request for an extension could impact the case's further outcome. Coinbase's growth in Q4 demonstrates its resilience in a shifting crypto industry.
