Coinbase ($COIN) has hired Citadel Securities' General Counsel to bolster its legal team as it faces significant legal challenges. The SEC has charged Coinbase for operating as an unregistered securities exchange, broker, and clearing agency. Additionally, the Law Offices of Howard G. Smith and Glancy Prongay & Murray LLP have announced the filing of securities class actions on behalf of Coinbase Global, Inc. investors. Concerns have also been raised by BlackRock regarding Coinbase's Bitcoin liquidity.