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A blog post to not run afoul of SEC regulations? I don't think so..they could easily bring this up at earnings.

otterley 4y ago
I’m not a securities lawyer but I can imagine that some material information might need to be disclosed immediately. I’d love a more knowledgeable person to chime in.
- benmanns 4y ago
  Coinbase did make an SEC filing copy of the blog post: https://www.sec.gov/Archives/edgar/data/0001679788/000110465922061625/0001104659-22-061625-index.htm https://www.sec.gov/Archives/edgar/data/0001679788/000110465... > On May 16, 2022, Coinbase Global, Inc. (“Coinbase” or the “Company”) issued a blog post (the “Blog Post”) relating to its hiring plans. In connection with the Blog Post, Coinbase affirmed its expense outlook for the second quarter of 2022 and full year 2022 that the Company provided on May 10, 2022 in a letter to its shareholders announcing its financial results for the quarter ended March 31, 2022. A copy of the Blog Post is furnished as Exhibit 99.1 to this Current Report on Form 8-K. > Coinbase announces material information to its investors using filings with the Securities and Exchange Commission, the Company’s website at www.coinbase.com and blog.coinbase.com, as well as press releases, public conference calls, public webcasts, its Twitter feed (@coinbase), its Facebook page, its LinkedIn page, its YouTube channel, and Brian Armstrong’s Twitter feed (@brian_armstrong). Therefore, Coinbase encourages investors, the media and others interested in the Company to review the information it makes public in these locations, as such information could be deemed to be material information. > The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. So whether or not they were required to communicate the slowdown, they did at least consider the post to be material information that needed to be communicated with investors.
  - ectospheno 4y ago
    If someone employed there wants to trade then they have to announce or risk insider trading. When the trade can’t wait until the usual information release then you will see sudden announcements like this.
  - vmception 4y ago
    Nice, they covered their ass
CydeWeys 4y ago
Earnings only happen quarterly. There's lots of events that need to be communicated more urgently than that. And there's no way you could keep a lid on something like this for up to potentially 90 days. People (internally and externally) are going to notice that no one is being hired there anymore.
- CydeWeys 4y ago
  And it's worth pointing out that large companies are constantly posting disclosures, sometimes as frequently as daily. Here's one example (Google): https://sec.report/Ticker/GOOG https://sec.report/Ticker/GOOG The bar for disclosure is quite low, and is not dependent on quarterly cycles.

I’m not a securities lawyer but I can imagine that some material information might need to be disclosed immediately. I’d love a more knowledgeable person to chime in.

benmanns 4y ago
Coinbase did make an SEC filing copy of the blog post: https://www.sec.gov/Archives/edgar/data/0001679788/000110465922061625/0001104659-22-061625-index.htm https://www.sec.gov/Archives/edgar/data/0001679788/000110465... > On May 16, 2022, Coinbase Global, Inc. (“Coinbase” or the “Company”) issued a blog post (the “Blog Post”) relating to its hiring plans. In connection with the Blog Post, Coinbase affirmed its expense outlook for the second quarter of 2022 and full year 2022 that the Company provided on May 10, 2022 in a letter to its shareholders announcing its financial results for the quarter ended March 31, 2022. A copy of the Blog Post is furnished as Exhibit 99.1 to this Current Report on Form 8-K. > Coinbase announces material information to its investors using filings with the Securities and Exchange Commission, the Company’s website at www.coinbase.com and blog.coinbase.com, as well as press releases, public conference calls, public webcasts, its Twitter feed (@coinbase), its Facebook page, its LinkedIn page, its YouTube channel, and Brian Armstrong’s Twitter feed (@brian_armstrong). Therefore, Coinbase encourages investors, the media and others interested in the Company to review the information it makes public in these locations, as such information could be deemed to be material information. > The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. So whether or not they were required to communicate the slowdown, they did at least consider the post to be material information that needed to be communicated with investors.
- ectospheno 4y ago
  If someone employed there wants to trade then they have to announce or risk insider trading. When the trade can’t wait until the usual information release then you will see sudden announcements like this.
- vmception 4y ago
  Nice, they covered their ass

CydeWeys 4y ago

Earnings only happen quarterly. There's lots of events that need to be communicated more urgently than that. And there's no way you could keep a lid on something like this for up to potentially 90 days. People (internally and externally) are going to notice that no one is being hired there anymore.

CydeWeys 4y ago
And it's worth pointing out that large companies are constantly posting disclosures, sometimes as frequently as daily. Here's one example (Google): https://sec.report/Ticker/GOOG https://sec.report/Ticker/GOOG The bar for disclosure is quite low, and is not dependent on quarterly cycles.