BlockBeats News: On April 27th, Paul VanGreck, Vice President of Legal at Coinbase, announced that the U.S. Securities and Exchange Commission (SEC) and the states of Illinois, Kentucky, South Carolina, Vermont, and Alabama have withdrawn their lawsuits against Coinbase's staking services.
Currently, California, New Jersey, Maryland, and Wisconsin have not withdrawn their lawsuits. VanGreck estimates that residents of these states have lost over $90 million in pledged rewards since June 2023. Coinbase calls for an end to the crackdown on pledge business as soon as possible.