Nikhil Wahi – brother to former Coinbase product manager Ishan Wahi – has been sentenced to 10 months in prison following his guilty plea to leveraging his familial connection for insider trading of crypto tokens. The accomplice will be forced to return the $892,000 he generated in profits from those trades. “A Terrible Mistake” In...Read More
The US-based cryptocurrency exchange Coinbase will reduce its workforce by around 950 people. The firm had previously laid off 18% of its employees due to adverse macroeconomic conditions. Brian Armstrong – CEO of Coinbase – said they had taken the “difficult decision” to dismiss 950 of its team members as part of the company’s long-term...Read More
Cryptocurrency exchange Coinbase reached an agreement to pay a $50 million penalty to New York state’s Department of Financial Services to settle accusations that it enabled customers to open accounts without conducting necessary background checks. The regulator stated that Coinbase violated the New York Banking Law and the New York State Department of Financial Services...Read More
Coinbase customers, who had previously sued the crypto exchange over unauthorized crypto transfers, have continued to hold back their account information in a bid to block efforts to move their case to arbitration. A renewed emergency motion filed in federal court revealed that the plaintiffs agreed to provide the necessary information encompassing emails, usernames, and...Read More
In a market outlook report published on Dec. 20, Coinbase Institutional stated that the crypto winter will extend well into 2023, especially for altcoins. Company analysts expect digital asset selection will transition towards “higher quality names” like Bitcoin and Ethereum. This is based on several factors, such as sustainable tokenomics, the maturity of respective ecosystems,...Read More
Coinbase founder and CEO Brian Armstrong, for one, believes that ideal crypto regulations should start with centralized actors since most of the damage to the consumers has been done by these entities. In a recently released “realistic blueprint,” Armstrong highlighted the need to pursue legislation early instead of waiting for something comprehensive and perfect. Regulations...Read More
Coinbase – the largest crypto exchange in the United States – has launched an asset recovery tool that will let users recover over 4000 unsupported ERC-20 tokens sent to the exchange by mistake. In return for a small fee, the company will send non-supported assets back to user addresses. According to a blog post from...Read More
The Founder and CEO of Ark Invest – Cathie Wood – purchased 297,000 shares of Coinbase for approximately $11.9 million. She also bought 75,000 shares of Tesla Inc. Despite the unstable condition of the crypto sector and the increasing negativity towards centralized exchanges, Wood spent almost $12 million to acquire 297,000 COIN shares. The shares...Read More
In a new blog post, the centralized crypto exchange encouraged users to switch from USDT to USDC by waiving the conversion fees while highlighting the latter stablecoin as a “trusted and reputable digital dollar.” The development comes amidst a stablecoin war in the industry. Exchanges are stepping up to claim dominance of their native stablecoins....Read More
Samuel Bankman-Fried took Do Kwon’s spot by becoming the most talked-about and arguably hated person in the cryptocurrency industry in November when his empire collapsed, and the community found out about his dirty laundry. The latest to join the bashing fest is Coinbase’s CEO – Brian Armstrong – who had some strong words to say...Read More
Users lose interest in some cryptocurrencies as negative news about them spreads in specialized and mainstream media. At least, that is what Coinbase thinks, as they will soon stop supporting some tokens with a lot of trajectory among crypto enthusiasts. On November 23, Coinbase, the largest cryptocurrency exchange in the U.S., announced that its wallet...Read More
Leading American cryptocurrency exchange Coinbase has on-boarded new executives to lead its expansion plans in Europe, the Middle East, and Africa (EMEA) despite the intense bear market pushing several crypto entities into bankruptcy. According to the exchange, the appointments are part of its ”Go Broad and Go Deep strategy’ for global expansion, which the...Read More
In its Institutional Investor Digital Assets Outlook Survey published on Nov. 22, Coinbase reported that many professional investors have increased their allocations during the crypto winter. America’s largest exchange surveyed 140 institutional investors between Sept. 21 and Oct. 27. They represented assets under management of about $2.6 trillion, it added. However, it should be noted...Read More
Coinbase CEO Brian Armstrong quelled concerns about the state of his company’s Bitcoin holdings on Tuesday, following doubtful suggestions from rival exchange owner Changpeng Zhao (CZ). Binance’s CEO has since deleted his tweet, promising to “work together to improve transparency in the industry.” What Did CZ Say? CZ’s now-removed post called attention to two separate...Read More
Shares for Coinbase, America’s largest cryptocurrency exchange, are trading at another all-time low as Bitcoin and the crypto market log some of the lowest digital asset prices in over two years. COIN stock fell 8.9% on Monday, from $44 at 14:20 UDT to $41.23 when the day closed. The current price is down 37% over...Read More
As the ongoing FTX drama dashed hopes of the ongoing crypto winter ending, Coinbase was one of the few companies to come out and say that they suffered no exposure to the fallout. Although Brian Armstrong, the CEO of the exchange, assured users that Coinbase would not suffer a similar fate, things don’t look especially...Read More
The US-based cryptocurrency exchange – Coinbase – reportedly reduced its team by 60 people following the FTX saga and the consecutive plunge of the market. Chief Financial Officer Alesia Haas said the company might lay off more people should the turmoil deepen in the future. According to recent coverage, one of the largest crypto platforms...Read More
Amid the chaotic meltdown, asset movement from Circle to FTX surfaced. It was also reported that Alameda could be the second-largest issuer of Tether. CEO of USDC issuer, Jeremy Allaire, assured the community that Circle has no material exposure to the troubled firms. Tether’s chief technology officer Paolo Ardoino also spoke on the matter. Circle’s...Read More
Coinbase CEO Brian Armstrong argued on Tuesday that his exchange isn’t vulnerable to the sort of fallout suffered by FTX this week. He said the “event” surrounding FTX appears to stem from risky business practices that Coinbase does not engage in. Coinbase’s Business Model Armstrong began by expressing sympathy for everyone involved in the FTX...Read More
On Nov. 3, Coinbase Inc. had its third-quarter earnings call, reporting that revenue had missed analysts’ expectations. Company revenue plunged more than 50% from the previous year earlier as trading activity dwindled. This resulted in a loss of $545 million compared to a profit of $406 million in Q3 2021. In a letter to shareholders,...Read More
Leading American cryptocurrency exchange Coinbase is seeking permission to file an amicus brief, also known as “friend of the court,” in support of Ripple Labs’ ongoing court case with the United States Securities and Exchange Commission (SEC). According to a court document submitted on October 31, the exchange sought permission from Judge Analisa Torres of...Read More
On Oct. 24, Coinbase announced that MakerDAO governance had voted in favor of the proposal to custody $1.6 billion USDC with Coinbase Prime. This means that Coinbase has expanded its USDC rewards program to an institutional client for the first time, it added. MakerDAO will hold the funds with Coinbase Prime, the firm’s institutional broker,...Read More
Grayscale’s lawsuit against the SEC has started gaining traction as prominent names from the crypto industry rallied behind the asset manager. The latest one to chime in is Coinbase. The cryptocurrency exchange has filed an amicus brief backing Grayscale Investment’s lawsuit against the United States Securities and Exchange Commission (SEC) for disapproving the company’s proposal...Read More
The CEO of the US-based crypto giant said he wants to sell 2% of his entire stake in the company throughout the next several months. His intentions are to use that capital to fund some scientific research and companies. Armstrong took it to Twitter to inform the community about his decision, which is based on...Read More
The US multinational tech giant said it chose Coinbase to allow certain customers to pay for cloud services starting next year. This will be enabled by integrating the Coinbase Commerce service, Google said. Citing the announcement made during Google’s Cloud Next conference, the CNBC report noted that the move is expected to see the light...Read More
Company founders Ola Muse and Karthik Kalyanaraman left Coinbase in August. It only took them two months to raise and close the seed round, which was led by Redpoint Ventures with participation from Mysten Labs and Howard University. Their firm, Scale3, is an infrastructure startup that focuses on supporting blockchain node operators. Node operation is...Read More
The US-based cryptocurrency exchange – Coinbase – announced it will strengthen its presence in Australia, allowing locals an “easier and safer” option to enter the digital asset industry. The company described “The Land Down Under” as a “hotbed of fintech innovation.” More Crypto Options for Aussies In a recent announcement, Nana Murugesan – Managing Director...Read More
The bear market has been tough for everyone, and holding on to Coinbase shares may not be wise, according to Wells Fargo. The multinational financial services company issued a profitability warning stating that the current market conditions may hurt the publicly traded crypto exchange. Despite having the early-mover advantage, Coinbase is now facing stiff competition...Read More
Coinbase – the largest cryptocurrency exchange in the United States – has been slapped with another multi-million dollar lawsuit. The company has been accused of patent infringement through several of its services, over which the plaintiff is seeking $350 million in damages. Another Coinbase Lawsuit Veritaseum Capital LLC filed the lawsuit on Thursday in a...Read More
The California-based cryptocurrency exchange – Coinbase – reportedly appointed at least four Wall Street traders and established a group to use the company’s own funds to trade cryptocurrencies. Undisclosed members of the platform described the activity as “proprietary” trading. On another note, the company received regulatory approval from the Dutch Central Bank to start providing...Read More
