Analysts surveyed by FactSet anticipate Coinbase’s revenue fell to $589 million in the final quarter of the year, down just a hair from the $590 million reported in the previous quarter, which was already crippled from negative sentiment in the crypto space following the bankruptcy of crypto lender Celsius in July. Source
The United States Securities and Exchange Commission has announced a $1.4-million settlement with former NBA player Paul Pierce for allegedly promoting a token project on social media. In a Feb. 17 announcement, the SEC said Pierce touted EthereumMax (EMAX) tokens through social media channels without disclosing he had received payment for the promotion and made “false and misleading statements” regarding the project. According to the SEC, promoters paid the former NBA star $244,000 worth of EMAX in addition to him posting messages allegedly showing misleading information about profits on Twitter.…
The U.S. Securities and Exchange Commission (SEC) has charged Basketball Hall of Famer Paul Pierce for touting EMAX tokens and making misleading comments about unregistered crypto securities. The former Boston Celtics small forward agreed to settle the charges and pay the SEC $1.409 million. SEC Chair Gary Gensler Wants to Remind Celebrities of Disclosure Laws The U.S.’s top securities regulator has charged former Boston Celtics forward Paul Pierce for unlawfully touting the cryptocurrency project called Ethereummax and the token EMAX. The Securities and Exchange Commission’s charges against Pierce follow an…
The upcoming Ethereum Shanghai hard fork is slated to occur in March 2023, and the upgrade will cap off the network’s move to proof-of-stake (PoS), which started during the Merge on Sept. 15, 2022. Once Shanghai is implemented, previously locked Ether (ETH) will gradually become liquid for the first time since December 2020. According to on-chain Etherscan data, over 16.6 million ETH is currently locked in the PoS staking protocol, which was valued at $28 billion on Feb. 16, 2023. Ethereum’s move from proof-of-work (PoW) to PoS has started to achieve the original…
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Bitcoin miner CleanSpark is growing its mining capacity in the United States with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company’s computing power by 37% and brings the total number of miners purchased during the bear market to 46,500 units. According to a statement on Feb. 16, CleanSpark will pay $32.3 million for the machines after applying coupons at a 25% discount or a total price per terahash (TH) of approximately $13.25. The Pro+ rigs are 22% more…
Prosecutors in the financial fraud case against former FTX CEO Sam Bankman-Fried (SBF) are attempting to persuade the judge to restrict his use of electronic devices. It has been revealed that SBF used a virtual private network (VPN) to watch the Super Bowl through a foreign subscription service he had purchased before his arrest. Prosecutors, however, are skeptical and argue that VPNs are commonly used to access international crypto exchanges that are blocked in the United States. Prosecutors Raise Concerns Over VPN Use by Former FTX CEO, SBF’s Lawyers Argue…
Terraform Labs said that UST, Terra’s ill-fated “decentralized” stablecoin, would stay pegged to the price of $1 solely as a result of a state-of-the-art “algorithm.” That algorithm – which was codified in blockchain-based computer code called smart contracts – was supposed to print and burn Luna, UST’s speculative sister token, to serve as a sort of shock absorber for UST’s price. Source
In a release Friday, the SEC said Pierce had been paid $244,000 in EMAX tokens, but did not disclose the payments while marketing the project on Twitter. He also allegedly suggested he held a large amount of EMAX tokens through screenshots, despite his holdings being “much lower” than what he displayed. Pierce will pay $1.409 million in penalties and disgorgement. Source EthereumMaxNBAPaulPiercePromosSECStarSues CryptoX Portal