Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler’s own communications – but the scope of its latest request filed on Tuesday has been dialed back after resistance from a federal judge. Source
The day before the spot ether exchange-traded funds (ETFs) were introduced, Coinbase posted on X to clarify its position regarding spot BTC and ETH ETFs. The company mentioned that it holds assets for ten out of 11 spot bitcoin ETFs and eight out of nine ether ETFs. Gabor Gurbacs, founder of Pointsville and former strategy […] Source CryptoX Portal
“Notwithstanding the increased turbulence in the upcoming U.S. elections, we believe the risk/reward setup for Coinbase, particularly as to its defense against the Securities and Exchange Commission’s (SEC) lawsuit, has improved markedly in the past few weeks,” analysts led by Peter Christiansen wrote. Source
As Bitcoin is experiencing an uptrend in price increasing by 12.6% in the past week to trade above $66,000, analysts at Coinbase in a Friday report have disclosed potential limitations to its upward trajectory due to “increasing sell orders” on the exchange. According to the report, the recent appreciation in Bitcoin’s value has tempted many traders to capitalize by selling, which could curb further gains. A Wall Ahead, What Happens To Bitcoin Then? This report, which analyzes the market’s overall picture, was compiled by Coinbase researchers David Duong and David…
“The distributions will be processed in batches in the coming months, and eligible clients will receive a notification to the BlockFi account email on file,” the announcement said. “Please note that non-US Clients are unable to receive funds at this time due to the regulatory requirements applicable to them.” Source
A wallet linked to crypto lender Genesis has transferred 12,600 Bitcoin (BTC) worth approximately $760 million to crypto exchange Coinbase. On-chain data tracked by Arkham shows the addressed labeled “Genesis Trading” moved the funds to the exchange amid the broader market sell-off witnessed over the past month. The wallet’s holdings have shrunk from 46,000 BTC in mid-June, and currently has around 33,356 BTC. Genesis received approval to repay $3 billion to creditors This amount is not as much as the over 43,000 BTC dump that the German government has so…
Crypto price action is likely to continue on a choppy trajectory for the rest of Q3, 2024, analysts at crypto exchange Coinbase say. Coinbase’ head of institutional research David Duong and David Han, an analyst at the US-based crypto exchange, shared their forecast in the company’s weekly market report. They anticipate greater volatility for cryptocurrencies over the next month or two before a potentiall rally in the fourth quarter. JPMorgan analysts offered a similar bullish analysis, although with a different timeline, noting crypto markets could rebound in August. Q3 started…
The judge took specific issue with Coinbase requesting documents from Gensler predating his term as chair of the regulatory agency. Kevin Schwartz, an attorney with Wachtell, Lipton, Rosen & Katz representing Coinbase, said the agency has refused to even discuss the totality of the documents Coinbase might have, but that Gensler’s communications were relevant to the case. Source
San Francisco crypto firm Coinbase has introduced a new web application for its wallet, designed to provide users with a unified platform for managing onchain assets. The application aims to simplify the experience for users by offering a comprehensive view of their crypto holdings across various wallets and chains. Coinbase Unveils Web App to Bolster […] Source CryptoX Portal
“Today, many people use manual spreadsheets and need to open multiple browser tabs to track their assets holistically,” Coinbase said in a statement. “Many people also manage several crypto wallets, and until now, achieving a comprehensive view of all their assets in one place has been a challenge.” Source