Coinbase Compares Crypto to Beanie Babies in Defense Against SEC Lawsuit
• Coinbase told a judge that buying crypto is like collecting Beanie Babies - it doesn't give buyers rights like stocks/bonds do
• Coinbase is facing an SEC lawsuit accusing it of selling unregistered securities
• Depending on the judge's ruling, it could have implications for the broader collectibles market
• Beanie Babies saw a late '90s boom & bust that coincided with the dot-com bubble
• The SEC argues crypto buyers are investing in the network behind the tokens, unlike with collectibles