Zhu Su: The SEC's blocking of Coinbase Lend last year actually saved Coinbase

ChainCatcher news, Three Arrows Capital co-founder Zhu Su stated on social media that he believes the U.S. Securities and Exchange Commission (SEC) blocking Coinbase from launching Coinbase Lend last year actually saved Coinbase's entire business, and this may be the only reason Coinbase is in a different position compared to other trading platforms now.

Previously, Coinbase published a blog post in September 2021 explaining that it did not understand why it received a civil lawsuit notice from the SEC. Coinbase stated that Coinbase Lend is neither a security nor an investment contract or note, but simply a way for users to lend their USDC to earn interest. However, the SEC still considered it a security and intended to file a lawsuit against it. Coinbase subsequently abandoned its crypto lending project. (source link)