Coinbase (COIN) CEO reveals the crypto company has received an SEC Wells notice

CEO Brian Armstrong shared word of the Wells notice from the SEC, which he feels is signaling enforcement action against Coinbase in the near future.


It would appear that Coinbase is circling the wagons and getting ready for what could be upcoming penalization from the U.S. Securities and Exchange Commission (SEC). Today, CEO Brian Armstrong shared publicly that Coinbase had received a Wells notice from the SEC and, despite the claim that Coinbase has worked with the SEC to ensure that it is doing business properly and within legality, Armstrong believes this could mean upcoming enforcement action against the cryptocurrency exchange platform.

Armstrong shared word of the Wells notice from the SEC via his personal Twitter on March 22, 2023. He goes on to say that Coinbase should, by the SEC’s own standards, be in compliance with rules and regulations.

Brian Armstrong's tweet thread about Coinbase receiving a Wells notice from the SEC.
Coinbase (COIN) CEO Brian Armstrong revealed on his personal Twitter that the cryptocurrency exchange company received a Wells notice from the SEC.
Source: Twitter

Armstrong further suggests that should Coinbase be penalized as he expects, the company is fully prepared to go to court and prove its adherence to SEC policies and procedures regarding its ongoing business.

Coinbase is one of a few major platforms that has remained active despite the many crashes happening in the cryptocurrency market, not the least of which included the FTX crypto exchange platform filing for bankruptcy. Nonetheless, Armstrong seems confident that Coinbase will weather any issues and come through in the right. Stay tuned as we continue to follow this story for further information.

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at and also find him on Twitter @JohnnyChugs.

From The Chatty
    • reply
      March 22, 2023 4:17 PM

      Put 'im in a body bag, Johnny!

    • reply
      March 30, 2023 5:40 AM

      After giving up on my hacked crypto account over 1 month ago, I came across Jimfundsrecovery AT consultant c0m recommendation about crypto wallet recovery on a blog, I slide in and file a complaint to them about how my account was hacked by fake investment platform, I sent my hacked wallet address to them as requested. Well, let me cut this short. Within a few days of sending the required info, I gained access to my account with my coins intact. 

    • reply
      May 29, 2023 2:04 PM

      I felt so sad after I made some silly investment plans. I lost a huge amount to a trading company. I couldn’t even tell anyone about what happened to me because I was so ashamed of myself until Jim a recovery expert from the JimFunds team, helped me recover all that was taken away from me and eventually exposed them to the authorities. JIMFUNDSRECOVERY at CONSULTANT d0t C0M and recover lost or stolen assets.

Hello, Meet Lola