Coinbase Archives

It’s time for the SEC to settle with Coinbase and Ripple

July 14, 2023 boss

In every major litigation, there comes a moment when you realize it’s time to settle. A ruling doesn’t go your way, a juror gives your legal team the side eye, the judge makes it clear it’s time for a settlement conference. After Judge Analisa Torres’ decision in SEC v. Ripple, the time has come for the United States Securities and Exchange Commission to settle the remainder of its case against Ripple Labs — as well as its case against Coinbase. The SEC’s attack on crypto has used a flexible legal…

Coinbase pauses staking services in four US states following regulators’ orders

July 14, 2023 boss

United States-based cryptocurrency exchange Coinbase has announced it will be temporarily stopping customers from staking additional assets in four states amid legal proceedings from local regulators. In a July 14 blog post, Coinbase said users in California, New Jersey, South Carolina, and Wisconsin would be restricted from using certain staking services until further notice. Following the U.S. Securities and Exchange Commission filing a lawsuit against the crypto exchange in June for offering unregistered securities, regulatory bodies in 10 U.S. states started their own legal proceedings, prompting the suspension of certain…

Coinbase to Pause Staking in California, New Jersey, South Carolina and Wisconsin

July 14, 2023

Crypto exchange Coinbase is pausing its retail staking service in California, New Jersey, South Carolina and Wisconsin after those states said they would require changes to those services while its proceedings against such staking services move forward. Source

XRP Trading Volume Surges 1351% as Crypto Exchanges Coinbase, Kraken, Binance.US Embrace the Token

July 14, 2023 boss

The trading volume of XRP pairs on centralized exchanges grew by a staggering 1351% on Thursday compared to the previous day, Josh de Vos, research lead of crypto analytics firm CCData, noted. The spike came as XRP’s skyrocketed by nearly 100% at one point Thursday. XRP was recently trading at 73 cents, still up 51% from a week ago. Source

Ripple’s XRP Summary Judgment Positive for Coinbase, Price Target Raised to $120 by Needham

July 14, 2023

The U.S. district court ruling that Ripple’s XRP token should not be considered a security if sold via an exchange or through programmatic sales is positive for Coinbase (COIN) shares since it sets a precedent that token sales through exchanges, at least in the case of XRP, did not violate securities laws, broker Needham said in a research report Friday. Source

Bitcoin and Crypto Stocks Like Coinbase Soar as XRP Ruling Bolsters Optimism

July 13, 2023 boss

Cryptocurrencies across the board are rallying along with crypto-related stocks after a federal judge ruled that the sale of Ripple’s XRP tokens on exchanges and through algorithms did not violate federal securities laws. Original

Coinbase, SEC Spar Over Definition of Securities, Nature of Staking in First Court Hearing

July 13, 2023

U.S. Judge Katherine Polk Faila questioned both sides on a range of topics in a Manhattan courthouse on Thursday. Source

Coinbase CEO Brian Armstrong Asks Twitter Followers if Bank of America Accounts Were Closed Because of Crypto Transactions

July 13, 2023

While 19.3% answered Armstrong’s query “no,” a whopping 9%, which would translate into roughly 1,200 people given there were 13,746 respondents to the question as of press time, said “yes.” The rest didn’t participate in the poll but were solely interested in seeing the results. Source

Coinbase Cut to Underweight Ahead of Earnings by Barclays

July 13, 2023

The bank said it sees few positive drivers for the crypto exchange’s share price in the near term. Source

Coinbase Lawyers Argue Biden Student Loans Ruling Aids Defense Against SEC

July 13, 2023

Asserting powers over the $1 trillion crypto industry is of major significance, just like canceling student debt, the exchange’s lawyers argue. Source