<p>一名 Coinbase 股東已對首席執行官布賴恩·阿姆斯特朗及公司董事會和執行團隊的幾名成員提起派生訴訟，指控他們誤導投資者關於與保管實踐、證券上市和反洗錢控制相關的風險。</p>
<p>該訴狀於週二在新澤西州地區法院提交，由股東凱文·米漢代表 Coinbase 提起。訴訟以阿姆斯特朗、聯合創始人弗雷德·厄爾薩姆以及多名董事和高管為被告。</p>
<p>訴訟稱，在 2021 年 4 月至 2023 年 6 月期間，Coinbase 領導層違反了信託責任，併發布了 “實質性虛假和誤導性聲明”，使公司面臨監管審查和法律責任。</p>
<p>Consensys 高級顧問比爾·休斯在 X 平台上發文指出，由於該案件被構建為股東派生訴訟，任何經濟賠償將歸 Coinbase 本身，而不是直接支付給股東。</p>
<p><strong>保管和財產問題</strong></p>
<p>其中一個核心指控涉及 Coinbase 如何描述其平台上客户資產的安全性。</p>
<p>根據訴狀，Coinbase 告知用户，保存在託管錢包中的資產是 “由 Coinbase 為您利益持有的保管資產”，這一表述包含在公司的零售用户協議中。然而，訴訟聲稱公司未能披露，如果交易所進入破產，這些資產可能被視為公司破產財產，可能使零售客户成為一般無擔保債權人。</p>
<p>訴狀還指控 Coinbase 在為機構客户維持隔離保管結構的同時，混合了零售客户的資產。</p>
<p><strong>證券上市和反洗錢控制</strong></p>
<p>訴訟進一步聲稱，Coinbase 多次表示其資產審查流程 “使證券無法在 Coinbase 平台上交易”，儘管有跡象表明一些上市代幣存在證券風險。</p>
<p>這些指控提及美國證券交易委員會在 2023 年 6 月的執法行動，指控 Coinbase 作為未註冊證券交易所運營並上市未註冊證券。</p>
<p>The Block 已聯繫 Coinbase 以獲取評論。</p>
<p>美國證券交易委員會的訴狀指出了在 Coinbase 交易的幾種代幣，聲稱它們是證券，包括 Solana 和 Cardano。然而，該案件最終在 2025 年被駁回，因為該機構在新領導下改變了對加密貨幣的處理方式，證券交易委員會主席保羅·阿特金斯表示 “今天交易的大多數加密代幣本身並不是證券。”</p>
<p>原告還引用了 Coinbase 與紐約州金融服務部在 2023 年 1 月達成的和解，該和解要求公司支付 5000 萬美元的罰款，並承諾再投入 5000 萬美元以加強其合規計劃，因為監管機構發現其反洗錢控制存在 “廣泛且長期的失敗”。</p>
<p><strong>內部銷售和損害賠償</strong></p>
<p>訴狀還指控幾名高管在 Coinbase 2021 年直接上市期間持有非公開信息時出售公司股票。</p>
<p>該訴訟尋求對 Coinbase 因監管罰款、法律費用和聲譽損害而產生的賠償，以及對某些高管的薪酬和股票銷售收益的返還。</p>
<p>免責聲明：The Block 是一個獨立的媒體機構，提供新聞、研究和數據。截至 2023 年 11 月，Foresight Ventures 是 The Block 的主要投資者。Foresight Ventures 還投資於其他加密領域的公司。加密貨幣交易所 Bitget 是 Foresight Ventures 的主要有限合夥人。The Block 繼續獨立運營，提供關於加密行業的客觀、重要和及時的信息。以下是我們當前的財務披露。</p>
<p>© 2026 The Block。保留所有權利。本文僅供信息參考。並不提供或意圖作為法律、税務、投資、金融或其他建議。</p>

BITB

ETHA

<p>一名 Coinbase 股東對首席執行官 Brian Armstrong 及其他高管提起了衍生訴訟，指控其在保管實踐、證券上市和反洗錢控制方面存在誤導性披露。訴訟稱，在 2021 年 4 月至 2023 年 6 月期間，Coinbase 領導層違反了信託責任，並作出了實質性虛假陳述，使公司面臨監管審查。主要指控包括對客户資產安全的錯誤陳述以及零售和機構資產的混合使用。該訴訟尋求對監管罰款的賠償以及對高管內幕股票銷售的補償</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 股東已對首席執行官布賴恩·阿姆斯特朗及公司董事會和執行團隊的幾名成員提起派生訴訟，指控他們誤導投資者關於與保管實踐、證券上市和反洗錢控制相關的風險。</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>該訴狀於週二在新澤西州地區法院提交，由股東凱文·米漢代表 Coinbase 提起。訴訟以阿姆斯特朗、聯合創始人弗雷德·厄爾薩姆以及多名董事和高管為被告。</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>訴訟稱，在 2021 年 4 月至 2023 年 6 月期間，Coinbase 領導層違反了信託責任，併發布了 “實質性虛假和誤導性聲明”，使公司面臨監管審查和法律責任。</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 高級顧問比爾·休斯在 X 平台上發文指出，由於該案件被構建為股東派生訴訟，任何經濟賠償將歸 Coinbase 本身，而不是直接支付給股東。</p>
</div><p><strong>Custody and property issues</strong></p>
<div class="lb-trans"><p><strong>保管和財產問題</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>其中一個核心指控涉及 Coinbase 如何描述其平台上客户資產的安全性。</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>根據訴狀，Coinbase 告知用户，保存在託管錢包中的資產是 “由 Coinbase 為您利益持有的保管資產”，這一表述包含在公司的零售用户協議中。然而，訴訟聲稱公司未能披露，如果交易所進入破產，這些資產可能被視為公司破產財產，可能使零售客户成為一般無擔保債權人。</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>訴狀還指控 Coinbase 在為機構客户維持隔離保管結構的同時，混合了零售客户的資產。</p>
</div><p><strong>Securities listings and AML controls</strong></p>
<div class="lb-trans"><p><strong>證券上市和反洗錢控制</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>訴訟進一步聲稱，Coinbase 多次表示其資產審查流程 “使證券無法在 Coinbase 平台上交易”，儘管有跡象表明一些上市代幣存在證券風險。</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>這些指控提及美國證券交易委員會在 2023 年 6 月的執法行動，指控 Coinbase 作為未註冊證券交易所運營並上市未註冊證券。</p>
</div><p>The Block reached out to Coinbase for comment.</p>
<div class="lb-trans"><p>The Block 已聯繫 Coinbase 以獲取評論。</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>美國證券交易委員會的訴狀指出了在 Coinbase 交易的幾種代幣，聲稱它們是證券，包括 Solana 和 Cardano。然而，該案件最終在 2025 年被駁回，因為該機構在新領導下改變了對加密貨幣的處理方式，證券交易委員會主席保羅·阿特金斯表示 “今天交易的大多數加密代幣本身並不是證券。”</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>原告還引用了 Coinbase 與紐約州金融服務部在 2023 年 1 月達成的和解，該和解要求公司支付 5000 萬美元的罰款，並承諾再投入 5000 萬美元以加強其合規計劃，因為監管機構發現其反洗錢控制存在 “廣泛且長期的失敗”。</p>
</div><p><strong>Insider sales and damages</strong></p>
<div class="lb-trans"><p><strong>內部銷售和損害賠償</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>訴狀還指控幾名高管在 Coinbase 2021 年直接上市期間持有非公開信息時出售公司股票。</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>該訴訟尋求對 Coinbase 因監管罰款、法律費用和聲譽損害而產生的賠償，以及對某些高管的薪酬和股票銷售收益的返還。</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>免責聲明：The Block 是一個獨立的媒體機構，提供新聞、研究和數據。截至 2023 年 11 月，Foresight Ventures 是 The Block 的主要投資者。Foresight Ventures 還投資於其他加密領域的公司。加密貨幣交易所 Bitget 是 Foresight Ventures 的主要有限合夥人。The Block 繼續獨立運營，提供關於加密行業的客觀、重要和及時的信息。以下是我們當前的財務披露。</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。保留所有權利。本文僅供信息參考。並不提供或意圖作為法律、税務、投資、金融或其他建議。</p>
</div>

Coinbase CEO Brian Armstrong and execs face shareholder lawsuit over disclosures, compliance failures

The Block

Bitwise Bitcoin ETF

Valkyrie Bitcoin and Ether Strategy ETF

IShares Ethereum Trust ETF

Grayscale Solana Staking ETF

iShares Bitcoin Trust ETF

Invesco Galaxy Bitcoin ETF

21Shares Ethereum ETF

ProShares Bitcoin Strategy ETF

Grayscale Ethereum Mini Staking ETF

Grayscale Bitcoin Trust BTC - ETF

區塊鏈 ETF - Amplify

Franklin Ethereum ETF

Grayscale Ethereum Staking ETF

WisdomTree Bitcoin Fund

Invesco Galaxy Ethereum ETF

納斯達克 NexGen 經濟 ETF - Reality Shares

ARK 21Shares Bitcoin ETF

Fidelity Wise Origin Bitcoin Fund - ETF

VanEck Ethereum ETF

Bitwise Solana Staking ETF

Proshares Ether Strategy ETF

Franklin Bitcoin ETF

Coinbase 首席執行官 Brian Armstrong 及其高管因信息披露和合規問題失敗而面臨股東訴訟