Oregon's attorney general plans to jointly file a lawsuit against cryptocurrency exchanges. According to Paul Grewal, the company's chief legal officer, he wrote in an article on X that the state is “Resurrect the dead by bringing a case similar to the evacuation of the U.S. Department of Justice under President Trump.”
“Today, the Oregon Attorney General is resurrecting the dead by bringing a copycat case @secgov“To remind the SEC dismissed the bias in the case. This type of political horse racing is a waste of Oregon taxpayers,” Grewal wrote.
The case said Coinbase is selling unregistered securities to residents of the state and sold on the same day as one of its employees, Jesse Powell, who came under fire in a provocative post that suggests new cryptocurrency tokens can be used to facilitate sexual transactions. Powell runs the foundation, an Ethereum-based blockchain that allows developers to create cryptocurrency tokens and related applications.
Well, what happened @according to?
Before you ask, yes, these are all real pic.twitter.com/hyswsnccz4
– Jacquelyn Melinek (@jacqmelinek) April 18, 2025
These comments are seen as undermining the credibility of the industry as it has been seeking years of distance to distance it from the alleged alleged alleged, i.e. cryptocurrencies are primarily used for illegal activities, including pumping and lowering programs. Coinbase’s renowned actor in the field calls him a well-known actor, believing that cryptocurrencies will remain here, regulators should act to reduce their focus on law enforcement, but instead create clearer regulations for the industry.
But Coinbase also allows a bunch of tokens to be traded on its platform, and its base platform faces controversy, even if new tokens can be initiated, the value of these tokens soared, just suddenly collapsed what the industry calls “carpet.” Powell believes that with platforms like YouTube and Tiktok, “tokenized” Internet content will enable creators to better access their content. Effectively bring back the NFT idea by allowing creators to buy and sell speculative tokens for their content.
In other potential regulations, the SEC may require issuers to “lock” any tokens they retain for a set period, mitigating the sudden market crash shortly after the new token issuance and seeing its price rise in short-term orders. It may also require the issuer to hold insurance to consider any lawsuit. But the Justice Department recently said it will stop cryptocurrency business and instead focus its efforts on crimes promoted by using cryptocurrencies, such as drug trafficking.
Other companies like Robinhood have been heavily involved in blockchain-based cryptocurrencies and gambling contracts. The company, in particular, makes more money than traditional stocks in cryptocurrencies and options trading, which makes incentives encourage users to gamble on short-term bets.
Although the regulatory environment for cryptocurrencies seems to be easier under the Trump administration, Coinbase stock has fallen 31% this year. Insiders believe the elimination of the gains made last year was due to the wider economic climate. It turns out that cryptocurrencies may not be the hedge against traditional finances that many supporters believe. When people’s dollars don’t go very far, they will sell cryptocurrency to cover the cost of basic necessities.
Still, the Trump administration is still making more use of cryptocurrencies than ever before. It has dropped many lawsuits against companies in the industry, created a “reserve” of Bitcoin captured through criminal enforcement and recently commuted to the verdict of the founders of Exchange Bitmex, who were accused of letting criminals launder money through the platform without having to undergo identity checks. Justin Sun, the controversial founder of the industry, proved the civil case filed against him shortly after investing $75 million in World Liberty Financial, the Trump family.
For some time, cryptocurrencies remained one of the lowest-produced investments in the technology industry because it cannot create any meaningful utility for the average person. Stablecoins offers some hope that faster online transactions can bypass the slow traditional banking system and allow more people to trade in fixed currencies. However, the issues surrounding money laundering and crime are still common, and any product with “utility” is still difficult to use. New cryptocurrencies based on Misty Commitments also continue to deceive everyday consumers. Critics believe the industry has invested hundreds of millions of dollars in Trump's campaign to make prices rise, as cryptocurrencies still do not outweigh gambling.
Unfortunately for Coinbase, loose regulations at the federal level will obviously not completely eliminate its headache unless President Trump stepped in and tried to take action against Oregon by cutting federal funds.
