Browsing:Coinbase

A federal court has determined that the case filed by the US SEC against Coinbase will continue.
3 weeks ago 1 min read

Judge rules SEC vs. Coinbase case to proceed

A federal court has determined that the case filed by the US Securities and Exchange Commission (SEC) against cryptocurrency exchange Coinbase will continue. US District Judge Kathrine Failla ruled in favor of the SEC’s action, affirming that Coinbase functions as an exchange, broker, and clearing agency according to federal securities laws. Additionally, the judge found that Coinbase is involved in the unregistered offer and sale of securities via its Staking Program. Nevertheless, the court approved Coinbase’s request to dismiss the Securities and Exchange Commission’s allegations against Coinbase Wallet. Paul Grewal, the chief legal officer of Coinbase, said that the court

Coinbase removes meme coin page targeting Senator Elizabeth Warren
1 month ago 1 min read

Coinbase removes meme coin page targeting Senator Elizabeth Warren

Coinbase exchange removed a page offering guidance on buying a meme coin named “Elizabeth Whoren” after US Senator Elizabeth Warren, known for her critical stance on crypto. This event highlights the clash between some crypto supporters and regulators. Senator Warren has openly criticized the crypto world, urging for tighter control to address its risks. As a result, some individuals within the crypto community developed meme coin tokens primarily for satirical purposes rather than as financial opportunities, such as the one that parodies Warren and is located on the Solana blockchain. Coinbase customers saw a website providing instructions on how to

Coinbase plans to raise $1B through convertible note offering amid Bitcoin's record highs
1 month ago 1 min read

Coinbase plans to raise $1B through convertible note offering amid Bitcoin’s record highs

Coinbase exchange plans to raise $1 billion through convertible notes, targeting institutional investors amid bitcoin’s growth and US bitcoin ETFs setting records. Furthermore, the notes will mature by 2030 and can be converted into cash, Class A stock, or a mix of both. Plus, the company aims to allocate the funds towards general corporate needs and settle existing debts. This includes convertible senior notes and senior notes due between 2026 and 2031. Besides, some proceeds may be used for investing in or acquiring other firms, products, or technologies aligning with Coinbase’s strategic vision. Recently, the exchange’s stock saw over 2.5%

Over 18000 Bitcoin (BTC) were removed from Coinbase
2 months ago 1 min read

Coinbase exchange sees over 18,000 BTC withdrawn

Over 18,000 Bitcoin (BTC) were removed from Coinbase, one of the largest crypto exchanges, according to data from Arkham Intelligence. This move, which cost almost $1 billion, decreased Coinbase’s Bitcoin holdings. These BTC coins were withdrawn and split among different new wallets; the total amount in these wallets ranged from $45 million to $171 million. After this redistribution, Coinbase now holds around 390,000 BTC worth around $20.5 billion, which is less than 2% of all Bitcoin that is available on exchanges. This represents its lowest percentage of holdings since 2015. The destination crypto wallets have not been identified, so the

Coinbase turned a profit for the first time since the Q4 of 2021
2 months ago 1 min read

Coinbase shares have turned a profit since 2021

Following a strong fourth-quarter earnings report in which the firm swung to profit and earnings that exceeded Wall Street expectations, Coinbase’s shares increased by over 12.5% after hours. Coinbase’s net revenue in the fourth quarter exceeded consensus estimates of around $825 million, rising 45.2% from the third quarter to $905 million. At the same time, the firm turned a profit for the first time since the fourth quarter of 2021, with a net income of $273 million. Coinbase reported a $2 million net loss for the prior quarter. With $529.3 million in revenue, transaction profit accounted for most of the

The Total Value Locked (TVL) in the Base Network has risen to nearly $734 million
4 months ago 1 min read

Coinbase’s Base Network Achieves Consistent Growth, Reaching $734 Million in Total Value Locked

Despite a slowdown in the initial growth surge, Coinbase‘s Base Network, an initiative developed through its incubator, continues to make steady progress. According to L2Beat data, the Total Value Locked (TVL) in the Base Network has risen to nearly $734 million, a 4.63% increase from the previous week. The Base Network TVL has increased significantly since its formal launch in August 2023, starting at $592 million at the end of November. The initiative is built on the Optimistic Rollup architecture, which allows for the integration of various decentralized applications. With over 6.97 million transactions completed in the last 30 days,

Coinbase launches a feature that allows users to send crypto via social media links
4 months ago 1 min read

Coinbase launches a feature that allows users to send crypto via social media links

Coinbase Wallet has launched a feature that will change the way users transfer crypto. Users can now send digital assets through social media links with the click of a button, making crypto enthusiasts’ lives easier. This significant update, announced in a blog post on December 5, represents a significant step forward in making crypto transfers more accessible and efficient. The ability to facilitate instant and fee-free transfers using USD Coin (USDC) is the highlight of this new feature. This means that users can send funds anywhere in the world without incurring any fees, simplifying the process and eliminating the need

Cathie Wood-Led Ark Invest Trims Coinbase Position, Unloading $1.4 Million Worth of Shares
4 months ago 1 min read

Cathie Wood’s Ark Invest Sells $1.4M in Coinbase Holdings

Ark Invest, under the guidance of Cathie Wood, is making strategic shifts in its investment portfolio. While the firm decided to part ways with Coinbase (COIN) shares, anticipating a market peak, it simultaneously doubled down on the potential of Robinhood (HOOD) amid expectations of significant market swings. Ark Invest’s recent decision saw the sale of 10,218 Coinbase shares, totaling $1.4 million. This move follows the extraordinary surge in COIN stocks, reaching a 19-week high. The ARK Innovation ETF (ARKK) offloaded 7,248 Coinbase shares, while the ARK Fintech Innovation ETF (ARKF) divested 2,970 COIN stocks. Despite the sell-off, Coinbase (COIN) continues

Coinbase crypto exchange has disclosed a 6% uptick in law enforcement requests compared to the previous year
4 months ago 1 min read

Coinbase exchange sees a 6% rise in law enforcement requests

Coinbase crypto exchange has disclosed a 6% uptick in law enforcement requests compared to the previous year, according to its annual transparency report. The surge in requests reflects an intensification of global cryptocurrency regulations, with the United States, Germany, and the United Kingdom leading the way. Coinbase reported a 6% increase in law enforcement requests from Q4 2022 to Q3 2023. The number of countries seeking information surged by 19, signaling a growing focus on cryptocurrency-related activities by regulatory authorities worldwide. The United States, Germany, the United Kingdom, and Spain collectively accounted for 73% of the total 13,079 requests made

ARK Invest sells another $5 million of Coinbase (COIN) shares
5 months ago 1 min read

ARK Invest sells another $5 million of Coinbase (COIN) shares

ARK Invest, led by Cathie Wood, continued its market maneuvering on Wednesday, focusing on the crypto and fintech sectors. The investment firm chose to sell 38,668 Coinbase (COIN) shares from its Ark Fintech Innovation ETF (ARKF) for $5 million. This move follows the sale of 43,956 COIN shares earlier this week, which coincided with the crypto exchange reaching its highest level since April 2022. Despite a minor dip, with COIN closing down 0.35% at $127.82 on Wednesday, the exchange has seen significant gains, with a more than 77% increase over the last month and a 281% increase year-to-date. ARK Invest

ARK sold off 43,956 Coinbase shares on November 27. Coinbase stock was trading for $119.7
5 months ago 1 min read

ARK Invest sells $5.2M in Coinbase Shares amid 18-month high

Recently, ARK Invest took advantage of the rising price of Coinbase (COIN) stock, signaling yet another round of profit-taking. From its ARK Fintech Innovation ETF (ARKF), ARK sold off 43,956 Coinbase shares on November 27. At the time of the sale, Coinbase stock was trading for $119.7 per share, or around $5.3 million. This action comes after Binance and its former CEO Changpeng Zhao entered a guilty plea to charges of money laundering and violating sanctions on November 21, 2023, which caused Coinbase’s stock to reach an 18-month high. stock has risen 168% in the last year, with a 220%

South Korea’s National Pension Service Invests Heavily in Coinbase with a $19.9M Purchase
5 months ago 1 min read

This South Korean Company Invests Heavily in Coinbase with a $19.9M Purchase

The South Korean National Pension Service (NPS), a major global pension fund with over $755 billion under management, has made an entry into the crypto sector by investing $19.9 million in Coinbase shares. This move reflects large institutional investors’ cautious yet optimistic approach to the rapidly growing crypto market. The NPS has decided to invest through the Coinbase crypto exchange rather than directly purchasing cryptocurrencies. This approach fits with the trend of large institutions investing in businesses connected to the crypto space in order to indirectly participate in the market. With its crucial position in the cryptocurrency space, Coinbase has

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