Coinbase Loses Bid to Dismiss SEC Crypto Asset Suit, Case Proceeds on Solana and Chiliz Tokens

Judge rules against Coinbase in early SEC suit, dismissing claims about Coinbase Wallet but allowing case to move forward on other crypto assets.

Judge rejects argument that cryptos are like Beanie Babies, says formal contract not needed for investment contract under Howey test.

Judge finds SEC plausibly alleged that Solana and Chiliz tokens are securities that Coinbase listed without proper registration.

Case now moves to discovery phase with April deadline for parties to agree on case management plan.

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