-2.95%
Credit ratings agency Moody’s has downgraded its rating of Coinbase (NASDAQ:COIN) from “stable” to “negative” following the SEC’s legal action against the crypto exchange for allegedly operating as an unregistered securities broker.
In a June 8 statement, Moody’s said the downgrade was due to concerns about the impact of the Securities and Exchange Commission action on Coinbase’s day-to-day operations.
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