So, picture this: Coinbase swaggering into the courtroom like it owns the place, all because Oregon decided to throw a lawsuit its way accusing it of breaking state securities laws. And who’s leading the charge? None other than Paul Grewal, Coinbase’s Chief Legal Officer, who took to X (yes, that’s Twitter’s dramatic makeover) on April 18, 2025, to call the lawsuit “legally flawed” and, oh yes, “politically motivated.” Ouch. 🎤👀
“We finally got a copy of the Oregon AG complaint. If you want to see the real tea behind this mess, just skip to section 9 — cherry-picking lawsuits like it’s a Netflix binge.” — Paul Grewal (@iampaulgrewal), April 18, 2025
Grewal’s not holding back. According to him, Oregon’s filing is like a badly edited movie missing all the juicy scenes — it totally skips the bit where Judge Failla gave Coinbase permission to appeal in that big SEC drama. Also, no mention of Judge Torres’ 2023 ruling that basically said “XRP ain’t securities, darling.”👑
And wait for it — two private law firms apparently had their fingerprints all over the complaint, which Grewal hints might be less about justice and more about fattening some wallets. Oh, and calling SEC Chair Gary Gensler a “Crypto lobbyist”? That’s a spicy little jab you don’t see every day.
In plain English? Coinbase reckons Oregon’s lawsuit is less about guarding investors and more about creating an anti-crypto villain narrative. Classic courtroom drama with a digital twist. 🎭💥
On the other side, Oregon ain’t playing games. They filed this case in Multnomah County Circuit Court, basically saying Coinbase’s been dealing unregistered securities on the sly and encouraging everyday folks to dive headfirst into risky crypto waters—resulting in some seriously bruised bank accounts.
As Attorney General Dan Rayfield puts it, “Coinbase built trust with Oregonians, then sold them high-risk investments without proper checks. Oregonians lost money. Accountability? Absolutely.”
Coinbase fires back, calling this a classic example of states misusing old-school rules on crypto, threatening to stomp out innovation before it even gets a chance to say “blockchain.” The outcome here could set the tone for how much power states have over crypto in the future. Big stakes, people.
Also read: SEC to Drop Lawsuit Against Coinbase, Says Brian Armstrong — In case you needed more plot twists.
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2025-04-21 14:01