To be honest, I was unaware that there was a lawsuit involving Coinbase in the state of New York.

The outcome is more fully described here: https://www.reuters.com/legal/coinbase-settles-with-new-york-regulators-100-mln-report-2023-01-04/

They settled for 100 million dollars. Apparently the settlement included a 50 million dollar penalty and 50 million dollars for compliance to help block potential criminals from using Coinbase.  I LOVE THIS last part about compliance and trying to stop criminals from using the exchange.  

I am writing about it because of how important I think Coinbase is to the overall health of cryptocurrencies.  Coinbase is regulated, on the Nasdaq, and has one of the so called "top four" accounting firms auditing the business.  Coinbase will likely soar in price in the coming years because of this. Again, just my thoughts, not financial advice. 

I wrote in the past about whether or not Coinbase will be the next exchange to go under. I did so, not to spread FUD, but to challenge my thinking to not get caught up emotionally regarding things I like. I do not see it happening, I see there regulation as a good thing. Even today, following the settlement, the stock price has gone up: https://www.marketwatch.com/story/coinbase-stock-bounces-after-100-million-settlement-deal-with-new-york-financial-services-regulator-01672845143

My premise has been, follow cryptocurrencies with solid foundations and I will be good. Same goes for any business or exchange. Here's to a great 2023!