Crypto Giants Coinbase and Binance Face SEC Scrutiny and Criticism

Kevin O'Leary, founder of O'Leary Ventures and Shark Tank investor, criticized Coinbase CEO Brian Armstrong for "butting heads" with the SEC and said he would fire him if he worked for him. O'Leary welcomed the SEC's crackdown on Coinbase and said he had no interest in investing in a service that was "at war" with the regulator. He also blamed Armstrong for much of Coinbase's controversy with the SEC. Coinbase's stock tumbled on Tuesday following the lawsuit. Binance, the world's largest crypto exchange, was also sued by the SEC for violating securities laws, mishandling customer funds, and misleading investors.