Coinbase Offers to Enhance SEC's Online Security Following Twitter Hack
Date: 2024-01-11 Author: Dima Zakharov Categories: BUSINESS
Coinbase's Offer to SEC
The leadership of Coinbase has made a significant proposal to the SEC, suggesting that they assist the regulatory body in ensuring its online security. Philip Martin, Coinbase's Director of Security, expressed his willingness to share their expertise in social media security protocols. He emphasized his patriotism and readiness to support his country, urging the American agency not to hesitate to seek their assistance.
Wholehearted Support from Coinbase
Paul Grewal, Senior Legal Counsel at Coinbase, reinforced the company's commitment to support the regulator. This collective effort by Coinbase aims to contribute to the creation of "fair, orderly, and efficient markets for all Americans."
SEC's Twitter Account Compromised
On Tuesday, January 9th, the official SEC Twitter account posted an announcement regarding the approval of spot Bitcoin ETFs for all securities-trading exchanges. However, the tweet was swiftly deleted, and SEC Chairman Gary Gensler revealed that the Commission's account had been hacked. Consequently, the Commission has yet to approve the listing and trading of spot exchange-traded products for Bitcoin.
Coinbase's offer to assist the SEC comes amid ongoing legal disputes between the two entities, following the SEC's lawsuit against the exchange last year for alleged violations of securities laws and operating without proper registration.
