Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?
It's like the whole crypto space is yelling out to Coinbase to save them.
No one is yelling at Coinbase to save them, Coinbase is just trying to clear there own head. Did you forget the SEC has already issued a warning to Coinbase regarding being sued over the proof of stake issue? If other exchanges have a similar case with the Fed, they will probably make a move to clear the air and prove to them that things aren't the way they take them to be. It's like the whole crypto space is yelling out to Coinbase to save them.
Just as @Beparanf said, How can you actually fight against those who made the law, and they can interpret the law to be what they want it to be. If they say it's security, they will probably explain it as such in their own terms.
It seems you have some good details about this recent case and I will be glad if you can give out a link to the news so I can get to read it myself then I will be truly grateful as I look forward to it.
This is another case to show that government is really trying so hard to fight crypto and I hope things goes well with Coinbase and I hope that the full details of the news or better still the thread should be updated with all the results of the hearing and court readings because I will love to know how things finally turned out to be and what the fate of Coinbase would be.