Tag: Coinbase

Coinbase CEO thinks Binance settlement is good for crypto

Coinbase CEO Brian Armstrong spoke positively about the future of cryptocurrencies in a CNBC interview published today, despite the recent downfall of major industry players like FTX. When asked about the outlook for crypto markets, Armstrong shared a positive outlook for the industry. He said: I’m pretty optimistic that in the next year between you know some of these ETFs getting approved some regulatory clarity emerging the Bitcoin happening that’s happening that my hope is that next year we’ll see a pretty good outcome for crypto. Brian Armstrong | Coinbase…

Coinbase warns customers about subpoena in apparent CFTC Bybit probe

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Coinbase is warning that it has received a subpoena from the United States Commodity Futures Trading Commission (CFTC), according to X (formerly Twitter) users who have posted copies of the message. The CFTC is seeking information about the Bybit cryptocurrency exchange. Recipients have speculated that any Coinbase customer who also used Bybit received the message. Coinbase may provide information on users’ accounts and transaction activities to the CFTC unless the subpoena is reversed by a court by Nov. 30, according to the Nov. 27 message. Dubai-based Bybit stated earlier this…

Cathie Wood’s Ark Invest Offloads $5.3M in Coinbase Holdings and Acquires $1.2M Worth of Robinhood Shares

Ark Invest seems to be rearranging its investment portfolio and has continued to sell huge amounts of Coinbase, while acquiring Robinhood shares. Cathie Wood’s investment firm, Ark Invest, made notable moves in its portfolio on Monday, marking a strategic shift in its crypto and fintech holdings. Ark Invest sold a substantial amount of its Coinbase Global Inc (NASDAQ: COIN) shares while increasing its position in Robinhood Markets Inc (NASDAQ: HOOD) and actively managing its exposure by also selling off its Grayscale Bitcoin Trust (GBTC) holdings. Ark Invest’s Coinbase Sell-Off amid…

Coinbase CEO Says It’s Time to See What Lies Ahead after Binance Settlement

Armstrong emphasized the significant role of various crypto companies in shaping the global crypto economy and transforming the financial system, particularly noting the prevalence of smaller startups. He underscored the importance of regulatory clarity, anticipating that it would contribute to increased investment, particularly from institutional sources. Last week, the US Department of Justice imposed a $4 billion settlement on Binance, leading to the resignation of its founder and CEO, Changpeng Zhao, who pleaded guilty to charges related to money laundering violations. The government alleged that Binance violated the US Bank…

Coinbase (COIN) Stock Soars to 18-Month High as Investors Crypto Interest Grows despite Binance Legal Issues

COIN is presently trading at $119 after closing at $115 on November 27, which is the highest close since May 2022. The price now has minimal resistance ahead as it is moving toward $130, the May 2022 high. Major cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) has seen its stock price climb over 250% so far this year. This brings the company close to its valuation from before the massive crypto crash of 2022. Last year’s cryptocurrency decline started with the implosion of TerraUSD, a so-called “stablecoin” whose value was…

ARK offloads $5.2M in Coinbase stock amid 18-month high

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ARK Invest, one of the companies that filed an application for a spot Bitcoin (BTC) exchange-traded fund (ETF), is again taking profits on its Coinbase (COIN) shares as the stock price surges. On Nov. 27, ARK sold 43,956 Coinbase shares from its ARK Fintech Innovation ETF (ARKF), according to a trade notification seen by Cointelegraph. Coinbase stock reached $119.7 per share at the time of the sale, giving the transaction a value of $5.3 million, data from TradingView shows. Coinbase crypto exchange has seen its shares jump to an 18-month high…

Coinbase shares hit 18-month high after Binance charges

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Crypto exchange Coinbase (COIN) shares have hit an 18-month high after rival exchange Binance and its former CEO Changpeng Zhao pleaded guilty to money laundering and sanctions violations in the United States. On Nov. 27, Coinbase closed at $119.77, its highest since May 5, 2022, when it closed at $114.25, according to TradingView data. It has seen little movement in after-hours trading. The number puts Coinbase shares up around 256.5% year-to-date, although is still down 65% from its Nov. 12, 2021, all-time high of nearly $343. Coinbase share price since…

Coinbase COIN Hits 18-Month High To Rally Near $117

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The price of Bitcoin hit a 2023 high, and Coinbase Global (COIN) shares went through the roof. It looked like the crypto exchange had benefited from Binance’s recent legal problems. People have noticed that COIN’s price has been doing well in line with the overall good trend in the crypto space led by Bitcoin. This week, the price of Coinbase stock has been going up quickly because its competitor, Binance, is having some problems with the government. COIN has been soaring for five days in a row and hit a…