“This is a fairly extreme case of a regulator wanting to have its cake and eat it too,” Dave Rodman, founder and managing partner at Rodman Law Group, told CoinDesk. “After all, the SEC deemed Coinbase sound enough to list on a US stock exchange, and it appears that it is backpedaling.” Source
Following the approval of spot Bitcoin ETFs, Grayscale has transferred some 31,638 BTC within its dedicated Coinbase accounts. According to Arkham Intelligence, the GBTC issuer moved a total of $1.3 billion in Bitcoin (BTC) since the U.S. Securities and Exchange Commission (SEC) approved 11 spot BTC exchange-traded funds (ETFs) on Jan. 10. The data available revealed transactions over three days, including Jan. 12, Jan. 16, and Jan 17. These deposits into Coinbase Prime wallets from Coinbase custody accounts all happened during the opening trading hours of the U.S. stock market.…
In a significant development that could potentially impact the Bitcoin price, Arkham Intelligence data reveals that Grayscale, the manager and owner of the Grayscale Bitcoin Trust (GBTC), has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12. Grayscale Bitcoin Trust Initiates Substantial BTC Outflow According to the data, four days ago, Grayscale initiated the first batch of BTC outflows from their holdings to the US-based exchange in four separate batches, totaling 4,000 BTC, which amounted to approximately $183…
YouTube analyst Crypto Capital Venture argues that if the judge rules in favor of Coinbase against the SEC, it could ignite an altcoin run with up to 100% on assets like ADA. Crypto Capital Venture looks at some of the events leading up to the decision, including that only 22 days after the SEC allowed Coinbase to go public, Gary Gensler from the SEC testified that the exchanges trading these assets do not have the regulatory framework at the SEC or CFTC. At the same time, the judge overseeing the…
Coinbase is the custodian of eight of the 11 approved Bitcoin ETFs, and several blockchain specialists and ETF consultants have raised concerns about this high concentration on one platform. The extensive involvement of Coinbase in these ETFs extends beyond mere custodianship. The digital-asset exchange is poised to provide a comprehensive suite of services, encompassing custodial, trading, and lending functions, to prominent players like BlackRock. However, this concentration of responsibilities within a single entity, Coinbase, is sparking concerns among experts in the blockchain and ETF sectors. Notably, the SEC has expressed…
On January 11, crypto exchange Coinbase unveiled its partnership with Yellow Card, the largest and first licensed Stablecoin on/off ramp on the African continent, to expand the access of their products to emerging economies across the African continent. Expansion To Emerging Economies Coinbase will expand access to its products through this new partnership with Yellow Card, starting with 20 African countries. They will provide millions of African users access to USD Coin (USDC) on the Coinbase Wallet and the Yellow Card app. Both partners expect to “increase economic freedom” in…
Bitcoin had earlier shown a sharp rally toward the $49,000 mark, but the asset was quick to retrace the entire surge as the Coinbase Premium turned negative. Bitcoin Coinbase Premium Gap Plunged Into Negative During Past Day As pointed out by CryptoQuant Netherlands community manager Maartunn in a post on X, the Coinbase Premium Gap has now turned notably negative after being mostly positive for the last few days. The “Coinbase Premium Gap” refers to the difference between the Bitcoin prices listed on the cryptocurrency exchanges Coinbase (USD pair) and…
As Coinbase has pointed out, fiat transfer fees can get as high as 3% to 6%. Through this partnership with Yellow Card, users will pay a maximum of 2% for each transaction. One of the benefits of cryptocurrency and blockchain being such barrier-breaking concepts is that people from all over the world can gain access to them. As such, projects and companies in the blockchain space often find themselves serving an international audience with all sorts of needs. Now, Coinbase, one of the biggest companies in the blockchain space, has announced…
The top US-based crypto exchange platform is venturing into Africa after announcing that will be teaming up with Yellow Card, a leading African stablecoin exchange. In a new blog post, Coinbase says that as part of its plan to reach 20 countries on the continent, it’s partnering up with Yellow Card to provide millions of people access to prominent dollar-pegged crypto assets, such as USDC. “Through our new partnership with Yellow Card, one of Africa’s leading stablecoin exchanges and a Coinbase Ventures portfolio company, millions of users will gain access…
The crypto exchange has a dominant role in all but one of the approved ETFs, acting as an issuer or custodian, the report said. Source