Coinbase says state litigation prevents users from obtaining more than $90 million in pledged rewards
On April 27, Paul VanGreck, vice president of law at Coinbase, issued a document stating that the U.S. Securities and Exchange Commission (SEC) and Illinois, Kentucky, South Carolina, Vermont and Alabama have withdrawn their lawsuits against Coinbase's pledge services. Currently, California, New Jersey, Maryland and Wisconsin have not yet withdrawn their charges. VanGreck estimates that residents in these states have lost more than $90 million in pledged rewards since June 2023. Coinbase called for an end to the crackdown on pledge business as soon as possible.
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