U.S. court allows Coinbase investor class action to proceed

A U.S. federal court has allowed part of an investor class action against Coinbase (COIN) and senior executives to proceed, according to NewsBTC. The U.S. District Court for the Southern District of New York on Aug. 20 allowed claims to be heard over allegations that Coinbase misled investors by downplaying and concealing potential bankruptcy risks and the possibility of a U.S. SEC investigation. The ruling does not mean Coinbase committed wrongdoing, but it is expected to restart the previously filed class action process. Investors filed the class action against Coinbase in August 2022, alleging the company concealed risks to customer assets in the event of bankruptcy and downplayed SEC regulatory and litigation risks.