Crypto exchange Coinbase has dropped plans to launch its crypto lending product, dubbed Lend, in light of the SEC's view that it would constitute a security, per an update to its original announcement blog post. In the blog post update, issued Friday, Coinbase wrote: "Our goal is to create great products for our customers and to advance our mission to increase economic freedom in the world. As we continue our work to seek regulatory clarity for the crypto industry as a whole, we’ve made the difficult decision not to launch the USDC APY program announced below. We have also discontinued the waitlist for this ... (full story)