Tag: Coinbase

Coinbase advocates for reevaluation of crypto as securities in legal clash with SEC

Coinbase’s legal team has approached U.S. District Judge Katherine Failla with a request to overlook a prior judgment that defined secondary sales of crypto assets as securities transactions. The plea, part of Coinbase’s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), was highlighted in a letter dated March 5. Michael Savitt, representing Coinbase, contended that the SEC’s prior classification of crypto sales in the secondary market as securities contracts, particularly noted in the SEC vs Wahi case, lacks substantial grounding since it was never thoroughly vetted in…

Ark Invest sells $31m in Coinbase, buys Meta amid Bitcoin rally

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Ark Invest, led by Cathie Wood, has sold nearly $31 million worth of Coinbase shares as Bitcoin approached a new all-time high, nearly reaching the $69,000 mark on March 4. The investment manager executed the sale of 134,749 Coinbase shares across three of its exchange-traded funds (ETFs): ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF), with the transaction valued at $30.88 million. Following the sale, Coinbase shares saw a significant increase, rising 11.4% to $229.15 in regular trading on the day and…

Coinbase suffers another outage as Bitcoin breaks $67k

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Coinbase users around the globe reported $0 crypto balances once again as Bitcoin rallied over $67,000 for the first time in over two years.  As Bitcoin (BTC) set a 28-month high on Mar. 4, crypto exchange Coinbase suffered its second outage amid euphoria in the cryptocurrency market in less than a week. The crypto fear and greed index sat at 82, indicating strong interest from users and traders.  Crypto fear and greed index | Source: alternative.me During the first Coinbase outage of the year on Feb. 28, CEO Brian Armstrong…

U.S. court decides against former Coinbase employee, calls some crypto assets securities

A federal judge in a landmark ruling supports the Securities and Exchange Commission’s (SEC) position that certain crypto assets are securities even when traded on secondary markets. A March 1 judgment in the SEC case against a former Coinbase staffer for insider trading has added another dimension to the ongoing debate about how to categorize crypto assets. The SEC’s case introduced a unique complexity to the already gloomy crypto regulatory landscape in the U.S., as it involves individuals accused of insider trading rather than crypto firms themselves. Ishan Wahi, a…

Former Coinbase CTO Balaji Srinivasan: Bitcoin Is a ‘Political Revolution’

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Balaji Srinivasan, venture capitalist and former CTO of Coinbase, has highlighted the real purpose of Bitcoin and its implications for geopolitical and financial issues. Srinivasan stated that Bitcoin at its core is a “political revolution,” because it challenges the centralized states’ business model, and the change brought by it will be fought by states who […] Original

OP Is Undervalued But Will Skyrocket Because Of Coinbase And Base

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Adam Cochran, a partner and professor, is bullish about OP, the native token of Optimism, the layer-2 scaling solution for Ethereum.  Taking to X, Cochran is convinced OP is undervalued, pointing to the significance of Coinbase and the brand it has created over the years as a crypto exchange and investor in multiple products. In 2023, Coinbase backed the development of Base, a layer-2 scaling solution for Ethereum that uses Optimism infrastructure for its optimistic roll-up.  OP Will Rocket Because Of CoinBase And Base In coming up with this assessment, the investor…

’10x Surge’ — Coinbase Traffic Overwhelmed Initial Demand Projections Amid Bitcoin’s Rise to $64K

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The crypto enterprise Coinbase, rooted in San Francisco, experienced an influx of online visits that surpassed the tenfold increase anticipated by their projections. Brian Armstrong, the CEO of Coinbase, shared updates about the heightened traffic following the exchange’s operational hiccups, which coincided with bitcoin’s climb to $64,000 on Wednesday. Coinbase Traffic Spike Surpasses Expectations Coinbase, […] Original