Coinbase is not Binance

Coinbase is not Binance
The SEC is trying to conflate the issue by targeting and pursuing both companies at the same time.
The SEC is making no allegations of misappropriation of customer funds or wash trading.
There was no naming of the Coinbase CEO, Brian Armstrong, or the executive team personally.
It is a technical issue of whether the crypto listed on Coinbase are securities or commodities.
Coinbase is based in the US and has strict requirements like auditing. The assets are backed 1 to 1.
Coinbase has tried to collaborate with the SEC and has received little to no guidance.
The relationship with the SEC has been good except for the chair, Gary Gensler. He has proved to be unreasonable and unwilling to work in good faith. Coinbase CEO attempted to meet with him when Gensler was installed but Gensler would not cooperate. Several attempts were made. No one in one meetings ever occurred in person. In contrast, Coinbase has been able to work with international regulators, and even meet with the heads of government.
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