Coinbase Seeks $120 Million Tier in SEC Crypto Fundraising Proposal

Coinbase is asking the SEC to raise the proposed Tier 1 fundraising limit to $120 million per 12 months and remove the Tier 2 ceiling for issuers providing audited financial statements, widening the framework's potential reach. The exchange's comment letter, submitted Oct. 20 as the public comment period closed, supports the proposed Regulation Crypto Assets framework while seeking changes to its fundraising limits and secondary-trading rules. Under the proposal, eligible startups could raise up to $5 million over four years. A separate exemption sets 12-month limits of $20 million for Tier 1 and $75 million for Tier 2.