Moody’s downgrades Coinbase, citing ‘uncertain magnitude’ of SEC charges By Cointelegraph

Credit ratings agency Moody’s has downgraded its rating of Coinbase (NASDAQ:) from “stable” to “negative” following the SEC’s legal action against the crypto exchange for allegedly operating as an unregistered securities broker.

In a June 8 statement, Moody’s said the downgrade was due to concerns about the impact of the Securities and Exchange Commission action on Coinbase’s day-to-day operations.