Coinbase Enforcement Warning Shows Gensler is Nearing His Crypto Endgame

Also, a different appeals court deems CFPB funding constitutional; Lawmakers have questions for SVB's management

It’s not a Trump indictment, but Coinbase’s announcement last night that it received a Wells notice from the SEC is a very big deal in the crypto regulation world.

For Gensler, it’s moving toward the endgame, the culmination of his strategy of “come in and register” or face the consequences. And, for good measure, it’s a missile aimed at the biggest U.S.…