Today on “The Breakdown,” NLW briefly covers yesterday’s bitcoin price crash and why it was driven by market structure more than news. The main topic focuses on revelations from Coinbase that after months of engagement around its upcoming Lend product, the SEC is now threatening to sue. NLW examines the controversy from five dimensions:
The argument for and against lending as a security The SEC’s pattern of regulation by litigation How the SEC is rewarding bad actors by punishing compliance The concerning surveillance implications of one of the SEC’s requests Why these strong-arm tactics are doomed Should Coinbase take the battle to court?