Month: April 2023

Coinbase execs respond to SEC’s Wells notice in person and on video

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Executives of cryptocurrency exchange Coinbase took their company’s regulatory issues to the public on April 27, with chief legal officer Paul Grewal speaking at Consensus 2023 and appearing with CEO Brian Armstrong in a video released on YouTube. The appeal was in response to a Wells notice received by the firm, a notification by the United States Securities and Exchange Commission (SEC) that it may intend to carry out enforcement actions against it. “Coinbase’s core commitment to regulatory compliance has never wavered,” Grewal said in the video, which was addressed…

William Shatner Warps Into Web3 With ‘Infinite Connections’ NFT Release

Orange Comet CEO Dave Broome, who also spoke at the conference, revealed how the deal with Shatner occurred, and how Shatner’s intellectual curiosity was a key component. “This is a man at 92 who is still inquiring, and still has an ability to learn and embrace technology and understanding what it could do,” Broome said. “What we’re interested in doing is taking someone like iconic legendary William Shatner and all of the millions and millions of fans that he has, and bring them over into web3.” Source

‘The war room was despondent’ — Scaramucci recounts FTX collapse at Consensus

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On April 27, Skybridge founder Anthony Scaramucci revealed what the final days of FTX were like, claiming that most employees of the failed crypto exchange probably didn’t know what its executives were doing behind closed doors until it was too late. In a panel discussion called “FTX: What Happened?” at Consensus 2023, Scaramucci gave a detailed narrative of what happened from his perspective. The Skybridge founder said he remembers hearing that FTX CEO Sam Bankman-Fried had commented negatively about Binance CEO Changpeng Zhao, also known as “CZ.” Scaramucci claimed that…

Coinbase Shares Wells Response, Challenges SEC’s Change in Attitude Towards Its Core Businesses – Bitcoin News

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On April 27, Coinbase, the crypto exchange based in San Francisco, made public the disclosure of its response to the Wells notice it had received from the U.S. Securities and Exchange Commission (SEC) back in March. The company maintained that the regulatory body’s enforcement actions were in direct contrast to the agency’s previous approval of the firm’s public listing via its S-1 filing. Coinbase asserted in its response to the SEC that it is the “innocent investors who stand to lose the most from the commission’s abrupt about-face.” Coinbase Responds…

Robinhood launches fiat-to-crypto on-ramp for self-custody wallets and DApps

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The launch of ‘Robinhood Connect,’ a fiat-to-crypto on-ramp featuring support for decentralized applications (DApps) and self-custody wallets, was announced at Consensus 2023 on April 27. Introducing our latest investment in crypto, Robinhood Connect: https://t.co/SmENSYufBA A low-cost, on-ramp for customers, and a seamless integration for developers. Learn more: https://t.co/rnBnR0LYww pic.twitter.com/6uSIAJkudO — Robinhood (@RobinhoodApp) April 27, 2023 Positioned as a competitor to similar services such as Coinbase Pay and MoonPay, Robinhood Connect essentially allows users purchase and sell cryptocurrency directly to and from their self-custody wallet or natively in DApps using a…

US House committees hear similar testimonies in simultaneous hearings on digital assets

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The United States House of Representatives was abuzz with talk about crypto on April 27, as both the Financial Services Committee and the Agriculture Committee held hearings with nearly identical titles and covered nearly the same ground with many similar conclusions. The Financial Services Committee, in its hearing “The Future of Digital Assets: Identifying the Regulatory Gaps in Digital Asset Market Structure,” heard from Davis Polk partner Zachary Zweihorn, who argued that “securities market structure laws and regulations do not align with digital asset securities.” He said: “We’ve all heard…