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Moody's affirms Coinbase (corporate family B2, senior debt B1); outlook changed to negative from stable
Moody's Investors Service (Moody's) today affirmed Coinbase Global, Inc.'s (Coinbase) B2 corporate family rating (CFR) and B1 guaranteed senior unsecured notes' ratings. Coinbase's outlook was changed to negative from stable. The rating action followed the 6 June 2023 US Securities and Exchange Commission's (SEC) complaint[1] against Coinbase that alleges Coinbase has been operating as an unregistered securities broker, national securities exchange, and clearing agency, and for failing to register the offer and sale of its crypto asset staking-as-a-service program. Following the SEC's complaint, a multi-state task ... (full story)