Bloomberg Senior Litigation Analyst: Coinbase to win dismissal of major claims by US SEC

Bloomberg ETF analyst James Seyffart wrote on X platform that his colleague, senior litigation analyst Elliott Z. Stein, believes Coinbase will win the dismissal of the SEC's primary claims (regarding trading) in this motion, but may not win the dismissal of claims regarding custody and broker-dealer. Previously, Coinbase's lawyers argued that the court should dismiss the SEC's lawsuit, which accuses Coinbase of engaging in buying and selling similar unregistered digital assets as an "unregistered broker-dealer," violating securities laws.