Coinbase Global Inc. is bowing to pressure from U.S. regulators and tabling plans to launch a product that would pay users interest for lending out their tokens.
The decision to shelve its Lend product, which the company announced quietly in an update to an old blog post at 5 p.m. on Friday, comes after the Securities and Exchange Commission threatened to sue the firm if it moved ahead. It also represents a dramatic reversal for Coinbase, whose top executives made its skirmish with the SEC public in defiant posts on social media on Sept. 7.
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September 20, 2021 at 10:38PM
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Coinbase Global (COIN) Drops Plan to Launch Crypto Lending Program - Bloomberg
"drops" - Google News
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