In an opinion piece on May 30, the Coinbase CEO wrote that recent crypto industry turbulence “might make it tempting for policymakers to write it off as an unstable asset class.” This is effectively what U.S. regulators have been doing, missing the forest for the trees in treating crypto as a speculative or gambling tool...Read More
The Securities and Exchange Commission (SEC) announced on Tuesday that ex-Coinbase manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges for insider trading using knowledge from the exchange. The former has been forced to forfeit 10.97 ETH ($20,848.92) and 9,440 USDT, while the latter was made to forfeit $$892,500. The End of...Read More
Coinbase-incubated Base is gearing up for a mainnet launch as the Ethereum layer 2 ecosystem heats up. Path to Base mainnet includes a certain set of objectives to be met. The official timeline for the mainnet launch has not been revealed yet, but Optimism’s upcoming Bedrock upgrade remains a crucial factor. Base Mainnet The Base...Read More
In response to the SEC’s arguments against its petition for a writ of mandamus, Coinbase said the financial regulator “is talking out of both sides of its mouth, and it is wrong at each end.” The crypto exchange’s chief legal officer Paul Grewal described the mandamus as “the tailor-made remedy for the extraordinary facts.” The...Read More
On May 18, the company announced upgrades to Coinbase One, a membership account that offers zero trading fees, boosted staking rewards, and priority support. However, the catch is that users will have to stump up $30 a month for the privilege. Coinbase has often been criticized for having some of the highest trading fees in...Read More
Late last month, Coinbase – who had previously been hit with a Wells notice, an informal warning from the SEC usually followed by a lawsuit – asked the courts to force the agency to clearly explain what actions they should take in order to remain compliant. The SEC, on the other hand, remains tight-lipped. Amicable...Read More
Amidst regulatory tussle, an SEC disclosure revealed an expensive bill for Coinbase CEO Brian Armstrong’s security benefits. The exec was granted security benefits of $6.3 million last year, representing more than triple the amount his security cost Coinbase the previous year. According to the public document, Armstrong’s total compensation for the whole of 2022 was...Read More
Pepecoin (PEPE) made quite a significant upheaval in the sluggish crypto market. From less than $1 million at the launch, its market cap swelled close to $2 billion in just weeks. The frog-themed memecoin in the crypto universe dominated by dog-themed coins is bound to trigger funny memes. And one such meme attempt by Coinbase...Read More
After pleading guilty earlier this year, former Coinbase Product Manager Ishan Wahi has been sentenced to 2 years in prison in a landmark case for insider trading with cryptocurrencies. The sentence exceeds the 10-month prison sentence of Ishan’s brother – Nikhil Wahi – with whom he conspired for the crime. Two Years for Crypto Insider...Read More
Coinbase has called for certain modifications to the proposed rule regarding registered investment advisers’ (RIA) obligations to hold client assets at qualified custodians. Even as the United States Securities and Exchange Commission (SEC) deemed Coinbase Custody as a “qualified custodian,” the crypto exchange believes the revised RIA rule makes “unwarranted assumptions about custodial practice.” Revisions...Read More
America’s largest cryptocurrency exchange Coinbase is considering the United Arab Emirates (UAE) as a potential strategic hub for its international operations. In a Monday blog post, Coinbase’s vice president for international and business development Nana Murugesan disclosed that the exchange is currently in talks with Abu Dhabi Global Market (ADGM) regulators to expand the licensing...Read More
Brian Armstrong, the co-founder and CEO of leading American cryptocurrency exchange Coinbase, believes the U.S. Securities and Exchange Commission (SEC) is on a lone crusade in the push for regulatory clarity in the country, as the agency’s stance on the matter is different from that of Congress and other federal regulators. During a Monday interview...Read More
Brian Armstrong, the co-founder and chief executive officer of major American cryptocurrency exchange Coinbase, revealed that the company is still 100% committed to the US market, despite the lack of regulatory clarity in the country. The CEO’s disclosure came as a response to a question from shareholders, who were curious about Coinbase’s plans to move...Read More
A US court has ordered the Securities and Exchange Commission to respond to Coinbase’s complaint about clarity on whether the securities regulator would allow the industry to be regulated using existing frameworks. The latest development emerges amidst escalating tensions between the SEC and Coinbase, with the former ramping up enforcement actions and warnings against crypto...Read More
On May 4, Coinbase Global reported a fifth consecutive quarter of losses. The results show that customers and investors have fallen out of favor with the company despite a recovery for crypto markets during the first quarter. The company posted a loss of $79 million, which is much lower than the $430 million it lost...Read More
The largest US crypto exchange announced that it will be deprecating its lending product, Coinbase Borrow, on the 10th of May. According to a spokesperson for the company, the product no longer garnered enough interest to justify allocating funds for it. Loans taken out using the program will remain active until their conclusion. Decision Not...Read More
Coinbase is reeling from recent regulatory action as investors are fleeing from its shares. This has resulted in company stock slumping 28.6% over the past three weeks. On April 11, COIN was trading at a little over $70, however, it had slid to $51 in after-hours trading on May 2 following a 3% fall since...Read More
The leading cryptocurrency exchange Coinbase announced the launch of a Bermuda-based marketplace that will serve non-US institutional users, according to a recent report. The company has been eyeing other countries to relocate recently due to the regulatory hurdles in America. CEO Brian Armstrong held discussions with the authorities of Britain in April, suggesting that the...Read More
Fresh trouble brews in for Coinbase as a lawsuit alleges that top leadership of the crypto exchange sold stock using inside information and dodged massive losses. Coinbase’s Chief Executive Officer Brian Armstrong, board member Marc Andreessen, and other officers are being accused of avoiding losses of over $1 billion with the help of inside information...Read More
Brian Armstrong, the chief executive officer of American crypto exchange Coinbase, and the company’s chief legal officer, Paul Grewal, have responded to a Wells Notice issued by the U.S. Securities and Exchange Commission (SEC) weeks ago in preparation for enforcement action. In a recent YouTube video, the Coinbase executives insisted that the SEC’s notice was...Read More
Major crypto exchange Coinbase has filed a lawsuit against the US SEC and Exchange Commission (SEC) that would compel the regulator to provide an answer to a previous petition by the company. The SEC has adopted a more stringent approach towards the crypto industry in recent times, believing most firms are breaking securities laws without...Read More
Leading cryptocurrency exchanges Coinbase and Gemini are parts of the two consortiums set to bid for bankrupt crypto lender Celsius Network’s assets at an auction scheduled for Tuesday, the 25th of April, 2023, according to a court filing and report from Fortune. The court document revealed that the auction would be held at the New...Read More
In a landmark ruling, Hong Kong’s High Court declared crypto as property that can be held in trust. This marks the first time such a decision regarding asset class has been made in the city-state. The ruling, which was handed down in liquidation of a case involving the now-defunct crypto exchange Gatecoin, essentially puts crypto...Read More
The crypto community has left no stone unturned in lambasting the US Securities and Exchange Commission (SEC) and, more importantly, its Chief Gary Gensler. The latter’s actions were dissented by members of his own agency. Gensler even received political pushback for his actions. But the SEC boss continued to defend the crackdown on digital assets...Read More
The US-based cryptocurrency exchange – Coinbase – received approval from the Bermuda Monetary Authority to operate on the island. It also intends to establish an offshore derivatives marketplace in the region as soon as next week. CEO Brian Armstong recently said his entity could relocate to other countries if the American watchdogs do not impose...Read More
Coinbase is on the brink of legal warfare with the Securities and Exchange Commission (SEC) to reach long-awaited clarity on how federal securities laws apply to the crypto industry, according to CEO Brian Armstrong. Should the regulator situation not improve, the executive said the exchange would consider relocating away from the United States. Will Coinbase...Read More
On April 11, it was reported that Coinbase had been awarded almost $470,000 in damages following a guilty plea in a Manhattan court. The case involved a crypto trader who took tips from his brother who worked at Coinbase Global. According to U.S. District Judge Loretta Preska, Nikhil Wahi was ordered to pay the sum...Read More
Vishal Gupta, head of exchange and markets at crypto exchange giant Coinbase, has left the company. The executive’s departure comes shortly after Coinbase was issued a Wells notice by the US Securities and Exchange Commission (SEC). Another Crypto Exec Leaves Company In a tweet thread on Monday (April 10, 2023), Vishal Gupta announced that he...Read More
ChatGPT has created waves across the world since its launch in November 2022. The famous AI app developed by the organization called OpenAI made news for scarily accurate answers, proving its viability in the digital asset space. It has also elicited some sharp opinions. The top AI figures in the world, such as Elon Musk,...Read More
The United States Securities and Exchange Commission has often talked about the purported “dangers” of crypto-assets while highlighting the need to strongly regulate the industry. It wasn’t until the FTX blow-up that the regulator stepped up its aggression. In yet another instance stigmatizing the asset class, the securities watchdog has released a bulletin urging investors...Read More
