Coinbase hit with 2 fresh lawsuits amid SEC probe

Coinbase (NASDAQ:) is now facing increased scrutiny from regulators, with the company now becoming the target of multiple lawsuits. The San Francisco-based cryptocurrency exchange, which is presently being investigated by the United States Securities and Exchanges Commission (SEC), now faces two additional legal claims from two law firms.

On Thursday, New York-based legal firm Bragar Eagel & Squire revealed that it would be suing Coinbase for making deceptive claims about its business practices. Pomerantz LLP has also filed a claim against the exchange, alleging that it is entitled to compensation for any losses incurred as a result of the defendant’s violations of federal securities laws. This lawsuit was filed to compensate the plaintiffs.