Coinbase

Coinbase battles the US SEC in a landmark legal case

May 26, 2024 1 min read

Coinbase’s legal battle with the SEC has taken another turn. Coinbase replied to the SEC’s petition against their interlocutory appeal, a crucial milestone in this high-stakes regulatory issue. Coinbase asked the US court on April 12 whether an investment contract may exist without post-sale responsibilities. The exchange deems this a “controlling question of law” in their SEC dispute. The SEC argued that the Howey Test in securities regulation has long

Coinbase has filed an interlocutory appeal against the SEC, accusing the Commission of bypassing the Howey test

May 26, 2024 2 mins read

Coinbase filed an interlocutory appeal against the SEC for skipping the Howey test for securities. Recent legislation, notably FIT21, shows the US SEC’s overreach, the exchange says. Coinbase’s Chief Legal Officer, Paul Grewal, called for clear laws and blasted the SEC’s inconsistencies. Coinbase is using congressional politics to influence its SEC appeal. Coinbase said the SEC “side-stepped” the Howey test in a May 24 court filing. The crypto sector and

Coinbase exchange consumers are frustrated with its frequent disruptions

May 15, 2024 1 min read

Coinbase exchange consumers are frustrated with its frequent disruptions. Borovik’s statement mirrors a prevalent sentiment: Coinbase’s customers anticipate greater dependability. In March, when Bitcoin was at record highs, some users’ account balances were presented as zero, prompting panic. The event was soon fixed and restricted to display faults, but it damaged user confidence. The February downtime, induced by a traffic increase when Bitcoin reached $60,000, led many users to experience

Coinbase faces lawsuit claiming it misrepresented crypto as non-securities

May 6, 2024 1 min read

Six customers have sued Coinbase Global, CEO Brian Armstrong, and two companies in a class-action complaint. The plaintiffs are requesting that state securities laws regulate Solana (SOL), Polygon (MATIC), and other cryptocurrencies as “investment contracts.” Despite Coinbase’s denials, the complaint claims that its user agreement refers to it as a “Securities Broker.” The plaintiffs contend that by making false promises, Coinbase “knowingly and intentionally” violates securities laws. They demand statutory

Judge rules SEC vs. Coinbase case to proceed

March 27, 2024 1 min read

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

Coinbase removes meme coin page targeting Senator Elizabeth Warren

March 14, 2024 1 min read

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

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

March 13, 2024 1 min read

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

Coinbase exchange sees over 18,000 BTC withdrawn

February 20, 2024 1 min read

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

Coinbase shares have turned a profit since 2021

February 16, 2024 1 min read

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,

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

December 25, 2023 1 min read

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

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

December 6, 2023 1 min read

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

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

December 6, 2023 1 min read

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,