The whining from these crypto execs has got to stop

The whining from these crypto execs has got to stop

The whining about financial regulation from the crypto executives has got to stop. Not only is it a mind-bending display of entitlement, but it also never fails to demonstrate how little some of these individuals — seeped in the tech world — have bothered to learn about finance. Take Brian Armstrong, CEO of Coinbase, for example. On Tuesday he took to Twitter to accuse the Securities and Exchange Commission of being " " for telling his company that it cannot issue a product that the regulator deemed a security, and for launching an investigation into the company. The product the SEC is questioning would allow customers to lend their crypto to the national average of . , Armstrong explained that his company was cooperative enough to give the SEC a courtesy heads up. That, he figured, should show enough goodwill to keep regulators from asking more questions. What's more, , the SEC should have to explain why they consider the product Coinbase was going to roll out a security and not what the company has argued — that the new feature is "not an investment contract or a note." Lending assets to a company which then packages it, lends it