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9/20, 6:32 PM (Source: TeleTrader)
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Coinbase drops crypto lending program plan - report

Coinbase Global Inc. will not be launching Lend, its program for lending cryptocurrencies, after all, several media outlets reported on Monday.

Citing the blog edited by the company's Chief Executive Officer (CEO) Brian Armstrong on Friday, Coinbase made the decision after the United States Securities and Exchange Commission (SEC) threatened with legal actions in case Lend was introduced.

"We had hundreds of thousands of customers from across the country sign up and we want to thank you all for your interest. We will not stop looking for ways to bring innovative, trusted programs and products to our customers," the blog reportedly read.

Breaking the News / JR