Crypto crowd ready for blue skies under Trump administration: Four-year ‘harassment’ is over
New York PostJAN 20
Coinbase Says SEC to Drop Crypto Lawsuit
Above: In this photo illustration, a Coinbase logo is seen displayed on a smartphone with a US Securities and Exchange Commission logo in the background. Image copyright: Avishek Das/Contributor/SOPA Images/LightRocket via Getty Images
The Spin
Narrative A
Dropping this lawsuit is terrible for customers, but not surprising under Trump. Coinbase currently faces multiple allegations of negligence, with millions of dollars reportedly lost to scams due to lax security. Meanwhile, Trump's reversal of Biden's crypto protections, favoring his and his wife's personal coins worth billions, benefits his crypto donors and himself over the public. This self-dealing risks financial instability while ignoring Coinbase's failures.
Narrative B
This decision is not corrupt, but a win for innovation and fairness. Coinbase fought an overreaching SEC, spending millions to protect customers and the crypto industry from unlawful regulation, proving its integrity with a full dismissal and no fines. Trump's pro-crypto agenda, notably his appointment of leaders like Paul Atkins, reverses Biden's stifling policies, fostering a thriving US crypto market that benefits the economy rather than chilling it.