Coinbase Faces Lawsuit Over Data Breach and FCA Compliance Issues

Coinbase is embroiled in a class-action lawsuit filed by investor Brady Nessler, alleging nondisclosure of data breaches and violations of the UK Financial Conduct Authority (FCA). The lawsuit highlights concerns over Coinbase’s transparency and shareholder interests. Following news of the alleged breach, the company experienced a 7.2% stock decline, echoing past challenges with regulatory compliance. Nessler’s claim underscores the need for greater accountability from Coinbase executives, who have yet to offer public statements regarding the lawsuit or the associated data breaches.