Coinbase Lawyer Likens Crypto to Beanie Babies in Bid to Dismiss SEC Lawsuit
• Coinbase lawyer compared crypto to Beanie Babies - said both are collectibles, not securities or stakes in a company
• Made argument in NY court to dismiss SEC lawsuit against Coinbase filed in June 2023
• Says crypto buyers have no stake in the companies behind the currencies, unlike stocks/bonds
• Coinbase has compared crypto to Beanie Babies before to argue it's not a security
• SEC sued Coinbase for offering crypto trading platform without registering as exchange, broker, or clearing agency