Coinbase

SEC Intensifies Crackdown on Crypto After FTX Crash

June 13, 2023 2 mins read

The failure of the FTX exchange in November 2022 sent shockwaves through the cryptocurrency industry, leading to increased scrutiny from the US Securities and Exchange Commission (SEC). The regulatory agency, aiming to salvage its reputation after the $8 billion fraud incident, has intensified its efforts to control the crypto sector. Recent lawsuits against major players like Coinbase and Binance are part of the SEC’s broader initiative to restore order in

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

June 9, 2023 2 mins read

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

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

June 8, 2023 1 min read

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

Ark Invest Buys $21 Million Worth of Coinbase Shares

June 7, 2023 2 mins read

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

Coinbase CEO Urges Congress to Address SEC Lawsuit and Crypto Regulations

June 7, 2023 2 mins read

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

Coinbase Sued By SEC, Shares Plunge

June 7, 2023 1 min read

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

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

June 7, 2023 1 min read

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

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

June 5, 2023 2 mins read

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

Coinbase to Launch Bitcoin and Ethereum Futures Contracts on June 5

June 2, 2023 2 mins read

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

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

May 31, 2023 1 min read

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

Coinbase Launches New Wallet as a Service for Ethereum

May 24, 2023 2 mins read

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

Coinbase to Launch Crypto Exchange in Singapore

May 18, 2023 1 min read

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