{"id":29977,"date":"2023-06-12T16:02:40","date_gmt":"2023-06-12T16:02:40","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/crypto-firm-coinbases-outlook-changed-to-negative-moodys"},"modified":"2023-06-12T16:18:51","modified_gmt":"2023-06-12T16:18:51","slug":"crypto-firm-coinbases-outlook-changed-to-negative-moodys","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/crypto-firm-coinbases-outlook-changed-to-negative-moodys","title":{"rendered":"Crypto firm Coinbase\u2019s outlook changed to negative: Moody\u2019s"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>Moody\u2019s announced Thursday it changed the cryptocurrency trading platform Coinbase\u2019s outlook to negative from stable. The action comes after Coinbase was charged Tuesday by the Securities and Exchange Commission (SEC) with violating exchange and securities laws in the US.<\/p>\n

\u201cThe change in outlook to negative from stable reflects the uncertain magnitude of impact the SEC\u2019s charges will have on Coinbase\u2019s business model and cash flows,\u201d the rating agency said in a statement.<\/p>\n

Moody\u2019s, however, affirmed Coinbase\u2019s rating, noting that the company has a healthy liquidity position, shown improvements in cash flow generation and the SEC\u2019s charges concern only some of its products while excluding its leading traded products.<\/p>\n

The rating agency noted that Coinbase had $5 billion in cash and equivalents as of March. It, however, said the timing and financial consequences about the resolution of the charges remain \u201cuncertain.<\/p>\n

The SEC charged Coinbase with operating its crypto asset trading platform as an unregistered national securities exchange, broker and clearing agency, in addition to failing to register the offer and sale of its crypto asset staking-as-a-service program.<\/p>\n

For More News And Analysis About Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. Moody\u2019s announced Thursday it changed the cryptocurrency trading platform Coinbase\u2019s outlook to negative from stable. The action comes after Coinbase was charged Tuesday by the Securities and Exchange Commission (SEC) with violating exchange and securities laws in the US. \u201cThe change in outlook to negative from stable reflects the uncertain magnitude of […]<\/p>\n","protected":false},"author":84,"featured_media":29976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,246,245,443],"class_list":["post-29977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-lesotho","tag-lesotho","tag-us"],"yoast_head":"\nCrypto firm Coinbase\u2019s outlook changed to negative: Moody\u2019s - Lesotho<\/title>\n<meta name=\"description\" content=\"Moody\u2019s announced Thursday it changed the cryptocurrency trading platform Coinbase\u2019s outlook to negative from stable. 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