Coinbase CLO Dismisses Solana Criticism, Highlights Legal Support  

• Coinbase has invested millions in defending Solana against SEC allegations of securities violations on retail trading platforms.  
• The exchange actively supports Solana’s ecosystem by listing tokens like PNUT, TRUMP, and MELANIA to promote accessibility and growth.  
• Coinbase’s advocacy for pro-crypto candidates helped drive regulatory progress, including a U.S. executive order for a national digital asset stockpile.

Paul Grewal, Chief Legal Officer (CLO) of Coinbase, has refuted claims that the exchange “hates Solana.” Responding to criticism on X (formerly Twitter), Grewal stated that Coinbase has spent millions of dollars defending Solana against allegations by the United States Securities and Exchange Commission (SEC). The regulator had previously argued that trading Solana and other altcoins on retail platforms amounted to dealing in securities.  

Grewal highlighted that Coinbase’s legal team actively combats what he described as an “outrageous attack” on Solana. He affirmed the exchange’s commitment to defending the ecosystem, noting their belief in Solana’s potential. The CLO also remarked that calling his efforts “hate” would be a mischaracterization.  

Support for the Solana Ecosystem Remains Robust  

Coinbase’s support for Solana extends beyond legal battles. The exchange continues to list and offer Solana-based tokens, contributing to the ecosystem’s growth. Earlier this year, Coinbase added PNUT, a meme coin launched on Solana. Other notable Solana-based tokens, including TRUMP and MELANIA, have also gained traction on the platform, driving significant trading volumes.  

Coinbase’s role in fostering accessibility to Solana tokens has made it a go-to platform for U.S. users interested in the network. Despite occasional network congestion from high trading activity, Coinbase CEO Brian Armstrong has announced plans to provide tier-1 support for Solana to mitigate such issues.  

Coinbase has also played a role in advocating for a favorable regulatory environment for cryptocurrencies. The exchange supported pro-crypto candidates during the U.S. presidential elections through substantial donations to the Fairshake Super PAC.  

The election of President Donald Trump marked a significant milestone for the crypto industry, with the President recently signing an executive order to establish a national digital asset stockpile. Coinbase’s advocacy underscores its broader mission of fostering innovation and fair competition in the digital asset space.