Following the SEC's lawsuits against Binance and Coinbase, banks are becoming more cautious about doing business with cryptocurrency companies. Coinbase CEO Brian Armstrong conducted a Twitter poll asking if Bank of America had closed accounts that transact with the exchange, in response to claims that personal bank accounts were closed after using them for Bitcoin transactions with Coinbase.

The poll received over 8,500 responses, with approximately 9% indicating that their accounts were closed due to transactions with the largest US crypto exchange. Despite the SEC's lawsuit, Coinbase's stock price has rallied over the past month, gaining 65% and reaching a 2023-high of over $85.