Coinbase is currently embroiled in multiple legal challenges involving the U.S. Securities and Exchange Commission (SEC) and a new class-action lawsuit. The court recently denied Coinbase's request to dismiss the SEC case entirely, although it did dismiss the SEC's claims concerning the Coinbase Wallet, deeming it legal. However, the legality of Coinbase's staking program remains undecided, with further proceedings expected. Concurrently, Coinbase, led by CEO Brian Armstrong, faces a new lawsuit filed by individual complainants alleging that several digital tokens offered by Coinbase, including ALGO, MANA, MATIC, NEAR, UNI, SOL, XLM, and XTZ, are securities. This lawsuit accuses Coinbase of misleading statements that led to financial losses for the investors, and alleges that Coinbase admitted in its user agreement to being a securities broker.