TechFlow news, according to Cointelegraph, Coinbase, the largest cryptocurrency exchange platform in the United States, along with its CEO Brian Armstrong, is facing a new class-action lawsuit from customers who claim the company's business model is illegal.
The lawsuit was filed by law firm Scott+Scott in the Northern District of California on behalf of plaintiffs Gerardo Aceves, Thomas Fan, Edwin Martinez, Tiffany Smoot, Edouard Cordi, and Brett Maggard—residents of California and Florida—who allege that since Coinbase's inception, the company has knowingly sold digital assets in violation of state securities laws.
In the complaint, the plaintiffs claim that Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland (MANA), Algorand (ALGO), Uniswap (UNI), Tezos (XTZ), and Stellar Lumens (XLM) are all securities.
