Last time the SEC did this:
“I was told by the banks that if I did not agree to settle with the SEC, that they would, the banks would, cease providing working capital and Tesla would go bankrupt immediately” Elon Musk @ TED in Vancouver
Also from TuongVy Le(@TuongvyLe12), former Chief Counsel at SEC:
"Let’s be clear: the @SECGov complaint doesn’t mention this, but there is currently NO way for a platform like @coinbase to register as a securities exchange, broker, or clearing agent. That’s why they’ve been begging @SECGov for YEARS to give them a path to compliance.
Instead of working constructively with U.S. market participants to come up with a working model, and knowing that Congress is actively considering legislation to do the same, SEC sues. No allegations of fraud, just accusing @coinbase of failing to do the impossible."