Oregon vs. Coinbase: Crypto Drama Worth a Mel Brooks Musical!

Breaking news from the crypto arena: The SEC taps out, XRP does a victory dance, but Oregon? Oh, Oregon’s just getting started—and Coinbase is caught in the middle like a confused extra in a spaghetti western! 🎭💥

Coinbase to Oregon: “Hey, Did You Miss the Part Where We Already Won?”

Just when you thought the legal soap opera around Coinbase was over—bam! Oregon’s Attorney General storms in with a shiny new lawsuit, adding fresh fuel to the crypto fire. 🔥 This spicy episode comes hot on the heels of the SEC gracefully exiting stage left after dropping their federal case like a hot potato, so quick it might have given the new chairman, Paul Atkins (who probably offers free snacks at meetings), a reason to chuckle.

Coinbase’s chief legal eagle, Paul Grewal, took to the social media airwaves (platform X, no less—because nothing says legal drama like 280 characters) to call out Oregon for playing fast and loose with the facts. According to Grewal, Oregon’s complaint is missing a few crucial plot points, like Judge Failla’s order granting Coinbase a chance to appeal, and the recent court ruling that gave XRP a big ol’ victory lap. 🚀

“If you want to see the real motives, look no further than section 9: it’s like they left all the good parts on the editing room floor! Also, shoutout to the two private law firms who probably smell dollar signs bigger than the crypto bubble—and calling the SEC chairman a ‘crypto lobbyist’? Ouch. Not cool, Oregon.”

It turns out, Coinbase thinks this lawsuit smells less like law and more like politics… or maybe like that weird smell when you forget fish in the fridge too long. 🤨

Meanwhile, Judge Katherine Polk Failla stepped up for Coinbase by putting the dodgeball game on pause—halting the district court to let the Second Circuit decide if Coinbase is really playing by the “investment contract” rules. (It’s like when the ref calls for instant replay because nobody understands what just happened.)

Oh, and did we mention Rip-pull? Nope, Ripple—not a breakup song but a crypto firm giving the SEC a glorious exit performance lately. After the SEC’s retreat from Ripple’s case, XRP’s sales on public exchanges are officially NOT securities, sending shockwaves through the regulatory grapevine and making Ripple’s fans do the cha-cha. 💃🕺

But Oregon’s not waving the white flag just yet—they’re accusing Coinbase of secretly selling unregistered securities and sneaky agreements with arbitration clauses that apparently block consumers from waving their protest banners. Oregon’s arguing that Coinbase is stomping on state laws like a bull in a legal china shop.

As the courtroom drama unfolds (popcorn sales should spike), Coinbase insists that this is just another episode in the never-ending saga of “Crypto Innovators vs. The Political Machine.” The state claims:

“Coinbase has for years thumbed its nose at Oregon’s investor protection rules.”

Stay tuned! Spoiler alert: It’s gonna be wilder than a Mel Brooks spoof on Wall Street. 🤡📺

2025-04-21 03:57

Coinbase to Oregon: “Hey, Did You Miss the Part Where We Already Won?”

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