<p>一名 Coinbase 股东已对首席执行官布赖恩·阿姆斯特朗及公司董事会和执行团队的几名成员提起派生诉讼，指控他们误导投资者关于与保管实践、证券上市和反洗钱控制相关的风险。</p>
<p>该诉状于周二在新泽西州地区法院提交，由股东凯文·米汉代表 Coinbase 提起。诉讼以阿姆斯特朗、联合创始人弗雷德·厄尔萨姆以及多名董事和高管为被告。</p>
<p>诉讼称，在 2021 年 4 月至 2023 年 6 月期间，Coinbase 领导层违反了信托责任，并发布了 “实质性虚假和误导性声明”，使公司面临监管审查和法律责任。</p>
<p>Consensys 高级顾问比尔·休斯在 X 平台上发文指出，由于该案件被构建为股东派生诉讼，任何经济赔偿将归 Coinbase 本身，而不是直接支付给股东。</p>
<p><strong>保管和财产问题</strong></p>
<p>其中一个核心指控涉及 Coinbase 如何描述其平台上客户资产的安全性。</p>
<p>根据诉状，Coinbase 告知用户，保存在托管钱包中的资产是 “由 Coinbase 为您利益持有的保管资产”，这一表述包含在公司的零售用户协议中。然而，诉讼声称公司未能披露，如果交易所进入破产，这些资产可能被视为公司破产财产，可能使零售客户成为一般无担保债权人。</p>
<p>诉状还指控 Coinbase 在为机构客户维持隔离保管结构的同时，混合了零售客户的资产。</p>
<p><strong>证券上市和反洗钱控制</strong></p>
<p>诉讼进一步声称，Coinbase 多次表示其资产审查流程 “使证券无法在 Coinbase 平台上交易”，尽管有迹象表明一些上市代币存在证券风险。</p>
<p>这些指控提及美国证券交易委员会在 2023 年 6 月的执法行动，指控 Coinbase 作为未注册证券交易所运营并上市未注册证券。</p>
<p>The Block 已联系 Coinbase 以获取评论。</p>
<p>美国证券交易委员会的诉状指出了在 Coinbase 交易的几种代币，声称它们是证券，包括 Solana 和 Cardano。然而，该案件最终在 2025 年被驳回，因为该机构在新领导下改变了对加密货币的处理方式，证券交易委员会主席保罗·阿特金斯表示 “今天交易的大多数加密代币本身并不是证券。”</p>
<p>原告还引用了 Coinbase 与纽约州金融服务部在 2023 年 1 月达成的和解，该和解要求公司支付 5000 万美元的罚款，并承诺再投入 5000 万美元以加强其合规计划，因为监管机构发现其反洗钱控制存在 “广泛且长期的失败”。</p>
<p><strong>内部销售和损害赔偿</strong></p>
<p>诉状还指控几名高管在 Coinbase 2021 年直接上市期间持有非公开信息时出售公司股票。</p>
<p>该诉讼寻求对 Coinbase 因监管罚款、法律费用和声誉损害而产生的赔偿，以及对某些高管的薪酬和股票销售收益的返还。</p>
<p>免责声明：The Block 是一个独立的媒体机构，提供新闻、研究和数据。截至 2023 年 11 月，Foresight Ventures 是 The Block 的主要投资者。Foresight Ventures 还投资于其他加密领域的公司。加密货币交易所 Bitget 是 Foresight Ventures 的主要有限合伙人。The Block 继续独立运营，提供关于加密行业的客观、重要和及时的信息。以下是我们当前的财务披露。</p>
<p>© 2026 The Block。保留所有权利。本文仅供信息参考。并不提供或意图作为法律、税务、投资、金融或其他建议。</p>

BITB

ETHA

<p>一名 Coinbase 股东对首席执行官 Brian Armstrong 及其他高管提起了衍生诉讼，指控其在保管实践、证券上市和反洗钱控制方面存在误导性披露。诉讼称，在 2021 年 4 月至 2023 年 6 月期间，Coinbase 领导层违反了信托责任，并作出了实质性虚假陈述，使公司面临监管审查。主要指控包括对客户资产安全的错误陈述以及零售和机构资产的混合使用。该诉讼寻求对监管罚款的赔偿以及对高管内幕股票销售的补偿</p>

<p>A Coinbase shareholder has filed a derivative lawsuit against CEO Brian Armstrong and several members of the company's board and executive team, alleging they misled investors about risks tied to custody practices, securities listings, and anti-money laundering controls.</p>
<div class="lb-trans"><p>一名 Coinbase 股东已对首席执行官布赖恩·阿姆斯特朗及公司董事会和执行团队的几名成员提起派生诉讼，指控他们误导投资者关于与保管实践、证券上市和反洗钱控制相关的风险。</p>
</div><p>The complaint, filed Tuesday in the U.S. District Court for the District of New Jersey, was brought by shareholder Kevin Meehan on behalf of Coinbase itself. The suit names Armstrong, co-founder Fred Ehrsam, and multiple directors and executives as defendants.</p>
<div class="lb-trans"><p>该诉状于周二在新泽西州地区法院提交，由股东凯文·米汉代表 Coinbase 提起。诉讼以阿姆斯特朗、联合创始人弗雷德·厄尔萨姆以及多名董事和高管为被告。</p>
</div><p>The lawsuit alleges that between April 2021 and June 2023, Coinbase leadership breached fiduciary duties and issued &#34;materially false and misleading statements&#34; that exposed the company to regulatory scrutiny and legal liabilities.</p>
<div class="lb-trans"><p>诉讼称，在 2021 年 4 月至 2023 年 6 月期间，Coinbase 领导层违反了信托责任，并发布了 “实质性虚假和误导性声明”，使公司面临监管审查和法律责任。</p>
</div><p>Consensys Senior Counsel Bill Hughes noted in a post on X that because the case is structured as a shareholder derivative action, any monetary recovery would go to Coinbase itself rather than directly to shareholders.</p>
<div class="lb-trans"><p>Consensys 高级顾问比尔·休斯在 X 平台上发文指出，由于该案件被构建为股东派生诉讼，任何经济赔偿将归 Coinbase 本身，而不是直接支付给股东。</p>
</div><p><strong>Custody and property issues</strong></p>
<div class="lb-trans"><p><strong>保管和财产问题</strong></p>
</div><p>One of the central allegations concerns how Coinbase described the safety of customer assets held on its platform.</p>
<div class="lb-trans"><p>其中一个核心指控涉及 Coinbase 如何描述其平台上客户资产的安全性。</p>
</div><p>According to the complaint, Coinbase told users that assets held in hosted wallets were &#34;custodial assets held by Coinbase for your benefit,&#34; language included in the company’s Retail User Agreement. However, the lawsuit claims the company failed to disclose that those assets could be treated as property of the company’s bankruptcy estate if the exchange entered insolvency, potentially leaving retail customers as general unsecured creditors.</p>
<div class="lb-trans"><p>根据诉状，Coinbase 告知用户，保存在托管钱包中的资产是 “由 Coinbase 为您利益持有的保管资产”，这一表述包含在公司的零售用户协议中。然而，诉讼声称公司未能披露，如果交易所进入破产，这些资产可能被视为公司破产财产，可能使零售客户成为一般无担保债权人。</p>
</div><p>The complaint also alleges that Coinbase commingled retail customer assets while maintaining segregated custody structures for institutional clients.</p>
<div class="lb-trans"><p>诉状还指控 Coinbase 在为机构客户维持隔离保管结构的同时，混合了零售客户的资产。</p>
</div><p><strong>Securities listings and AML controls</strong></p>
<div class="lb-trans"><p><strong>证券上市和反洗钱控制</strong></p>
</div><p>The lawsuit further claims that Coinbase repeatedly stated that its asset-review process &#34;keeps securities off Coinbase’s platform,&#34; despite indicators that some listed tokens carried securities risk.</p>
<div class="lb-trans"><p>诉讼进一步声称，Coinbase 多次表示其资产审查流程 “使证券无法在 Coinbase 平台上交易”，尽管有迹象表明一些上市代币存在证券风险。</p>
</div><p>The allegations reference the U.S. Securities and Exchange Commission’s June 2023 enforcement action accusing Coinbase of operating as an unregistered securities exchange and listing unregistered securities.</p>
<div class="lb-trans"><p>这些指控提及美国证券交易委员会在 2023 年 6 月的执法行动，指控 Coinbase 作为未注册证券交易所运营并上市未注册证券。</p>
</div><p>The Block reached out to Coinbase for comment.</p>
<div class="lb-trans"><p>The Block 已联系 Coinbase 以获取评论。</p>
</div><p>The SEC's complaint identified several tokens traded on Coinbase that it alleged were securities, including Solana and Cardano. However, the case was ultimately dismissed in 2025 as the agency shifted its approach to crypto under new leadership, with SEC Chair Paul Atkins saying that &#34;most crypto tokens trading today are not themselves securities.&#34;</p>
<div class="lb-trans"><p>美国证券交易委员会的诉状指出了在 Coinbase 交易的几种代币，声称它们是证券，包括 Solana 和 Cardano。然而，该案件最终在 2025 年被驳回，因为该机构在新领导下改变了对加密货币的处理方式，证券交易委员会主席保罗·阿特金斯表示 “今天交易的大多数加密代币本身并不是证券。”</p>
</div><p>Plaintiffs also cite Coinbase’s January 2023 settlement with the New York State Department of Financial Services, which required the company to pay a $50 million penalty and commit another $50 million toward strengthening its compliance program after regulators found &#34;wide-ranging and long-standing failures&#34; in its anti-money laundering controls.</p>
<div class="lb-trans"><p>原告还引用了 Coinbase 与纽约州金融服务部在 2023 年 1 月达成的和解，该和解要求公司支付 5000 万美元的罚款，并承诺再投入 5000 万美元以加强其合规计划，因为监管机构发现其反洗钱控制存在 “广泛且长期的失败”。</p>
</div><p><strong>Insider sales and damages</strong></p>
<div class="lb-trans"><p><strong>内部销售和损害赔偿</strong></p>
</div><p>The complaint also alleges that several executives sold company stock while in possession of nonpublic information during the period surrounding Coinbase’s 2021 direct listing.</p>
<div class="lb-trans"><p>诉状还指控几名高管在 Coinbase 2021 年直接上市期间持有非公开信息时出售公司股票。</p>
</div><p>The suit seeks damages for Coinbase tied to regulatory penalties, legal costs, and reputational harm, as well as restitution of compensation and stock-sale proceeds from certain executives.</p>
<div class="lb-trans"><p>该诉讼寻求对 Coinbase 因监管罚款、法律费用和声誉损害而产生的赔偿，以及对某些高管的薪酬和股票销售收益的返还。</p>
</div><p>Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.</p>
<div class="lb-trans"><p>免责声明：The Block 是一个独立的媒体机构，提供新闻、研究和数据。截至 2023 年 11 月，Foresight Ventures 是 The Block 的主要投资者。Foresight Ventures 还投资于其他加密领域的公司。加密货币交易所 Bitget 是 Foresight Ventures 的主要有限合伙人。The Block 继续独立运营，提供关于加密行业的客观、重要和及时的信息。以下是我们当前的财务披露。</p>
</div><p>© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p>
<div class="lb-trans"><p>© 2026 The Block。保留所有权利。本文仅供信息参考。并不提供或意图作为法律、税务、投资、金融或其他建议。</p>
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Coinbase CEO Brian Armstrong and execs face shareholder lawsuit over disclosures, compliance failures

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Coinbase 首席执行官 Brian Armstrong 及其高管因信息披露和合规问题失败而面临股东诉讼