Forbes - The end of Lend 🤲

Catch up: Coinbase first announced Lend in June. It would have initially offered a 4% annual yield for holders of its stablecoin, USDC. Earlier this month, chief legal officer Paul Grewal wrote in a blog that the SEC had sent Coinbase a Wells notice warning that it intended to sue in court over the planned Lend program. In a 21 tweet-long thread, Coinbase chief executive Brian Armstrong went on to accuse the SEC of some "really sketchy behavior," adding that it refused to meet with him in Washington earlier this year.

Why it matters: The SEC’s move to sue sparked a legal debate around its regulatory approach towards cryptocurrency and exactly what constitutes a security. SEC chair Gary Gensler said last week that he believes "very many" cryptocurrencies are securities, a sign the regulatory crackdown on cryptocurrency companies could continue.

Good to know: U.S.’s Binance probe expands to examine possible insider trading

📝 The software includes a hidden image portraying a waitlist page for users signing up for a crypto wallet feature. The app also has code referring to cryptocurrency transfers.

🗣️ "It’s something that our teams are working on,” Robinhood chief executive Vlad Tenev said on a call following the company’s second-quarter earnings release. "The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly."

Now read this: My recently widowed father, 68, met a woman on Facebook — and sent her bitcoin so they could meet