Coinbase - Optimisus

6 hours ago 2 mins read

Coinbase CEO Brian Armstrong Accused of Insider Trading in Controversial $1.7 Million Stock Sale

Recent allegations of insider trading against Coinbase CEO Brian Armstrong have sparked concerns within the investment community and industry experts. Armstrong sold over $1.7 million worth of Coinbase shares just days before the Securities and Exchange Commission (SEC) initiated enforcement action against the company. According to a Form 4 filed with the Securities and Exchange Commission, Coinbase CEO Brian Armstrong sold a substantial 29,730 shares of the company’s Class A Common Stock on June 5, 2023. The sale, conducted in eight separate transactions, took place at an average price of $60.3 per share, resulting in a total of over $1.7

1 day ago 1 min read

Coinbase Legal Chief Exposes Weaknesses in SEC’s Crypto Securities Claims

The Chief Legal Officer (CLO) of Coinbase, Paul Grewal, has raised significant concerns about the U.S. Securities and Exchange Commission’s (SEC) claims regarding crypto securities. In a blog post published on June 8, 2023, Grewal argued that the SEC’s definition of a security is “too broad” and that it could apply to many types of products, including cryptocurrencies. Grewal also argued that the SEC’s enforcement actions against cryptocurrency companies have been “arbitrary and inconsistent.” He pointed out that the SEC has taken different approaches to different companies, even when they are offering similar products. Grewal’s blog post has been met

Cathie Wood's Ark Invest has shown unwavering confidence in Coinbase

2 days ago 2 mins read

Ark Invest Buys $21 Million Worth of Coinbase Shares

Cathie Wood’s Ark Invest has shown unwavering confidence in Coinbase, the prominent crypto exchange operator, by purchasing additional shares on the same day the company was hit with a lawsuit by the US SEC. The move comes amidst a sharp decline in Coinbase’s stock price due to the legal action. Despite the challenging situation, Ark Invest’s flagship ETF, Ark Innovation, along with its Next Generation Internet ETF and Fintech Innovation ETF, collectively acquired 329,773 shares of Coinbase, amounting to a total investment of $21.64 million. This article delves into Ark Invest’s decision to bolster its stake in Coinbase and their

Coinbase CEO Brian Armstrong responded to the SEC's lawsuit against the exchange on Tuesday

3 days ago 2 mins read

Coinbase CEO Urges Congress to Address SEC Lawsuit and Crypto Regulations

Coinbase CEO Brian Armstrong responded to the SEC’s lawsuit against the exchange on Tuesday, June 6, calling it “unjust.” In a series of tweets, Armstrong said that the SEC reviewed Coinbase’s business in 2021 and “allowed us to become a public company,” despite the 2019 claims in the SEC’s lawsuit. “In case it’s not obvious, the Coinbase suit is very different from others out there – the complaint filed against us is exclusively focused on what is or is not a security. And we are confident in our facts and the law,” Armstrong tweeted. The SEC claimed that Coinbase violated

The SEC filed a lawsuit against Coinbase on Tuesday

3 days ago 1 min read

Coinbase Sued By SEC, Shares Plunge

The Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase on Tuesday, accusing the cryptocurrency exchange of operating as an unregistered broker. The lawsuit sent shockwaves through the crypto market, sending Coinbase’s stock price down 13% in a single day. The SEC alleges that Coinbase has been facilitating cryptocurrency trades since at least 2019 without registering as a broker with the agency. The agency also claims that Coinbase has failed to provide investors with important disclosures about the risks of trading cryptocurrencies. Coinbase has denied the SEC’s allegations and said it will vigorously defend itself against the lawsuit. The

SEC Lawsuits Prompt Coinbase Traders to Withdraw $600M

3 days ago 1 min read

Coinbase Traders Pull Out $600M in a Day Amid SEC Lawsuits

The U.S. Securities and Exchange Commission (SEC) lawsuits against Coinbase and Binance have prompted a wave of withdrawals from the two crypto exchanges. According to blockchain data firm Nansen, Coinbase saw net outflows of $600 million over a 24-hour period on Monday and Tuesday. Binance saw even larger outflows, with net outflows of $700 million on Monday and $1.2 billion on Tuesday. The outflows come as the SEC is alleging that Coinbase and Binance have violated federal securities regulations. Coinbase is accused of offering unregistered securities, while Binance is accused of failing to register as a securities exchange. The lawsuits

SEC Crackdown on Binance Sends Crypto Markets into Turmoil

4 days ago 2 mins read

Binance Lawsuit Sparks Sell-Off in Crypto, Coinbase Shares Drop 10%

Shares of Coinbase (COIN) experienced a significant decline of 10.3% following the news of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Binance for allegedly violating federal securities law. The market reacted strongly to the potential implications of increased regulatory scrutiny on the broader cryptocurrency industry. This article explores the impact of the SEC lawsuit on Coinbase, bitcoin’s price, and other related stocks. As news of the SEC’s lawsuit against Binance broke, Coinbase shares plummeted, with a more than 5% drop initially, followed by continued decline. Edward Moya, senior market analyst at foreign exchange Oanda, highlighted that

Coinbase exchange announced today that it will launch Bitcoin (BTC) and Ethereum (ETH) futures contracts on June 5.

1 week ago 2 mins read

Coinbase to Launch Bitcoin and Ethereum Futures Contracts on June 5

Coinbase, the largest cryptocurrency exchange in the United States, announced today that it will launch Bitcoin (BTC) and Ethereum (ETH) futures contracts on June 5. The new contracts will be available to trade on Coinbase’s derivatives exchange, which is regulated by the Commodity Futures Trading Commission (CFTC). The launch of BTC and ETH futures contracts is a major development for the cryptocurrency market. It will allow institutional investors to gain exposure to Bitcoin and Ethereum through futures contracts, which are a more regulated and liquid product than spot trading. Institutional investors have been hesitant to invest in cryptocurrencies due to

Coinbase CEO Brian Armstrong criticized US lawmakers and regulators

1 week ago 1 min read

Coinbase CEO Brian Armstrong Slams US Crypto Regulation, Says China is Winning

Coinbase CEO Brian Armstrong criticized US lawmakers and regulators over their approach to bringing “regulatory clarity” to cryptocurrency in an opinion article published on Tuesday. “By enforcing restrictive policies, the U.S. is inadvertently driving crypto-innovation offshore,” Armstrong wrote. “That shift will compromise America’s legacy of pioneering technological advancements, and weaken our national security posture.” Armstrong’s criticism comes as the US government is still struggling to come up with a comprehensive regulatory framework for cryptocurrency. The Securities and Exchange Commission (SEC) has taken a hands-off approach to regulating cryptocurrency exchanges, while the Commodity Futures Trading Commission (CFTC) has taken a more

Coinbase has launched a new Web3 wallet solution

2 weeks ago 2 mins read

Coinbase Launches New Wallet as a Service for Ethereum

Coinbase has launched a new Web3 wallet solution called “Wallet as a Service” (WaaS) on the Ethereum mainnet. The new service, a version of the crypto firm’s cloud product, went live on May 23 and utilizes a multi-party computation (MPC) protocol. WaaS reportedly employs cutting-edge multi-party computing (MPC) technology to safeguard the private keys of its users. It is equipped with MPC for both key generation and message signing, which ensures the maximum security properties of these decentralized algorithms. According to the post, customers using the MPC wallet solution can create, access, and recover their wallets with just a username

3 weeks ago 1 min read

Coinbase to Launch Crypto Exchange in Singapore

Coinbase, the largest cryptocurrency exchange in the United States, is expanding to Singapore. The move comes as the US Securities and Exchange Commission (SEC) has denied Coinbase’s application to list a crypto exchange-traded fund (ETF). Coinbase said that it chose Singapore because of its “business-friendly environment and strong regulatory framework.” The company also said that Singapore is a “key strategic market” for its global expansion. The expansion to Singapore is a sign that Coinbase is not deterred by the SEC’s denial of its ETF application. The company has said that it will continue to pursue other opportunities to list a

Coinbase moved over $627 million worth of Bitcoin (BTC) to two unknown wallets

3 weeks ago 1 min read

Bitcoin Whales Move Over $627 Million in BTC

Coinbase exchange transferred over $627 million worth of Bitcoin (BTC) to two unknown wallets. The movements come as the price of BTC has been shrinking, falling to $26,986 on May 17, 2023. The largest transaction, worth $316.3 million, was sent from a wallet address that has been dormant for over a year. The wallet address is believed to belong to a large Bitcoin mining operation. The other transaction was sent from a variety of other wallets, including some that have been associated with previous large Bitcoin movements. The sudden movements of such a large amount of Bitcoin have raised concerns