New York law firm Bragar Eagel & Squire filed a lawsuit against Coinbase in U.S. District Court for the District of New Jersey on Thursday, accusing Coinbase of making false or misleading statements about its business activities and compliance policies for more than a year. The law firm filed the lawsuit on behalf of "all individuals and entities" who purchased "Coinbase securities" between April 14, 2021, and July 26, 2022, alleging that Coinbase held customers' digital assets knowing they could eventually become Bankruptcy estates, which could force customers to be considered "general unsecured creditors" of the exchange. A Coinbase spokesman did not immediately respond to a request for comment. Additionally, Coinbase is facing a class-action lawsuit over Terra’s listing. The regulator also charged Ishan Wahi, a former product manager at Coinbase, with insider trading in at least 25 digital assets. Bloomberg said the SEC has opened an investigation into Coinbase that predates the insider trading case.