Once the news broke, Armstrong made his feelings clear regarding the SEC pursuing Coinbase. Cuban provided some advice. Acknowledging the fact that the SEC has a propensity to involve itself with issues it doesn’t fully understand, Cuban said that Armstrong needs to set the tone in this battle. He said, “They aren’t capable of working through this themselves and are afraid of making mistakes in doing so.”
Cuban wasn’t the only one to comment about having to “get on the offensive.” Many other crypto natives like Jerry Brito, the Chief Director at Coin Center, advised the same. He also said to let the SEC sue the company to get legal clarity through the courts. Providing a bit more optimism, James Wo, the CEO of Digital Finance Group (DFG), said that he views this conflict as a short-term one. He thinks that the issues will get resolved. Wo said, “Without these conflicts, it’s hard for regulators to give clear instructions.”