Georgia State University professor Todd Phillips: Coinbase would be more favorable if it appealed directly to the U.S. Supreme Court

Fortune's report, Coinbase's legal battle with the US Securities and Exchange Commission (SEC) looks bleak. Todd Phillips, a banking and administrative law professor at the University of Georgia, says Judge Failla's decision last week indicates that she agrees with the SEC's interpretation of legal precedent, that the crypto assets offered on Coinbase appear to be securities, therefore Coinbase is operating as an unregistered exchange and broker-dealer, and the SEC may come out victorious. Todd Phillips analyzes two scenarios that could benefit Coinbase. First, hoping for a Republican win in the presidential election and forcing Gary Gensler to resign from the SEC. Second, Coinbase immediately appeals this decision, waiving the next stage of the trial, directly appealing to the Second Circuit Court, and ultimately appealing to the Supreme Court.