Summary
Coinbase will face the SEC in federal court on January 17 over allegations of violating national securities laws. There are four possible outcomes for the hearing, including an outright win for the SEC or Coinbase, or a more narrow victory for either party. Several token unlocks are also scheduled for the upcoming week, including ApeCoin, Axie Infinity, Injective, and SPACE. Additionally, the World Economic Forum in Davos will feature several crypto companies advocating for their legitimacy.
Key Points
1. Coinbase will face the SEC in federal court in Manhattan on Wednesday, January 17, over Coinbase’s Motion for Judgment on the Pleadings in the SEC’s case against the company. The SEC is accusing Coinbase of violating national securities laws by selling 13 crypto tokens that the agency argues constitute unregistered securities.
2. The upcoming hearing in federal court on Wednesday could have four outcomes: an outright win for the SEC, a narrow victory for Coinbase, the judge granting Coinbase’s motion but allowing the SEC to amend certain deficiencies, or the case moving on to discovery if Coinbase’s motion is dismissed.
3. Several significant token unlocks are scheduled for next week, including ApeCoin, Axie Infinity, Injective, and SPACE. These unlocks are worth millions of dollars and will affect the respective token’s market prices.