Shares of Coinbase Global (NASDAQ: COIN) found themselves on a slippery slope in April 2023. The crypto-trading exchange's stock fell 20.4% last month, according to data from S&P Global Market Intelligence. The reasons behind this painful haircut included regulatory concerns, international expansion updates, and gently fluctuating Bitcoin prices.

During April, Coinbase faced several serious news items that moved its stock price.

On April 27, Coinbase posted a response to the Wells notice that the Securities and Exchange Commission (SEC) had filed in March. Paul Grewal, chief legal officer of Coinbase, said that the company hasn't listed securities but it would like to do so in the future, once the SEC provides a sensible registration process for that business. Coinbase expressed its readiness to defend itself against any litigation.

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Source Fool.com