Tag: Coinbase

Coinbase Goes to Court Against the SEC

“Like all securities, an economic arrangement can qualify as an investment contract only if it involves an ongoing business enterprise whose management owes enforceable obligations to investors. Absent such obligations, the contract is just an asset sale,” Coinbase argued. “Because no such obligations are carried in the transactions over Coinbase’s secondary market exchange, and because the value that Coinbase purchasers receive through these transactions inheres in the things bought and traded rather than in the businesses that generated them, the transactions are not securities transactions.” Source

Coinbase Soars After Reaching Cboe Surveillance Sharing Agreement for 5 Bitcoin ETF Applications

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“On June 21, 2023, the Exchange reached an agreement on terms with Coinbase, Inc., an operator of a United States-based spot trading platform for Bitcoin that represents a substantial portion of US-based spot trading platform for Bitcoin that represents a substantial portion of US-based and USD denominated Bitcoin trading, to enter into a surveillance-sharing agreement (“Spot BTC SSA”) and executed an associated term sheet,” the filing stated. Original

Coinbase shares up 50% since the SEC sued the exchange

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Despite the Coinbase cryptocurrency exchange facing a securities violation lawsuit in the United States, the company’s stock has been on the rise recently. Coinbase (COIN) stock has added more than 50% to its value since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the firm for allegedly offering unregistered securities. According to data from TradingView, Coinbase shares surged 51%, from around $52 on June 6 to $78.7 on July 7. The stock is also up around 133% over the past six months, while year-to-year growth is roughly…

Coinbase was aware of securities law violations, the SEC claims in letter

According to a letter sent by the SEC on July 7 to a district judge, Coinbase had knowledge of the probability that federal securities laws would apply to its operations, openly informing its shareholders about the possibility of assets traded on its platform being classified as securities. “Since becoming a public company, Coinbase has repeatedly informed its shareholders of the risk that the crypto assets traded on its platform could be deemed securities and therefore that its conduct could violate the federal securities laws,” reads the regulator’s response. As per…

Coinbase was aware of securities law violations, SEC claims in letter

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The United States Securities and Exchange Commission (SEC) filed a response to Coinbase’s claims that the regulator lacks jurisdiction to prosecute the crypto exchange. According to a letter sent by the SEC to a district judge on July 7, Coinbase had knowledge of the probability that federal securities laws would apply to its operations, openly informing its shareholders about the possibility of assets traded on its platform being classified as securities. “Since becoming a public company, Coinbase has repeatedly informed its shareholders of the risk that the crypto assets traded on…

Coinbase Knew It May Have Been Violating the Law Prior to the SEC’s Lawsuit, Regulator Claims

“Coinbase, a multi-billion-dollar entity advised by sophisticated legal counsel, argues it was unaware that its conduct risked violating the federal securities laws, and suggests that by approving Coinbase’s registration statement in 2021 the SEC confirmed the legality of Coinbase’s underlying business activities – at that time and for all time,” the SEC said in its filing. Source ClaimsCoinbaseKnewLawLawsuitPriorRegulatorSECsViolating CryptoX Portal

Coinbase domain name reportedly used by scammers in high-profile attacks

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Update (July 7 at 9:33 PM UTC): This article has been updated to include Coinbase’s response.  Coinbase’s users have been turning to Twitter to report scams and phishing attacks involving the company’s services and applications in recent weeks, including claims that scammers are using the crypto exchange’s domain name. The most recent case was disclosed on July 7 by a Twitter user identified as Daniel Mason, who allegedly received texts and emails from scammers with links under the domain Coinbase.com. The fraudster contacted Mason using a real phone number, then triggered…

Coinbase Knew It Was Violating the Law Prior to the SEC’s Lawsuit, Regulator Claims

“Coinbase, a multi-billion-dollar entity advised by sophisticated legal counsel, argues it was unaware that its conduct risked violating the federal securities laws, and suggests that by approving Coinbase’s registration statement in 2021 the SEC confirmed the legality of Coinbase’s underlying business activities – at that time and for all time,” the SEC said in its filing. Source

Valkyrie submits application for spot bitcoin ETF, partners with Coinbase

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto asset management firm Valkyrie has applied for a spot bitcoin ETF and has enlisted Coinbase as its Surveillance Sharing Agreement (SSA) partner. This move follows a trend of similar filings to the U.S. Securities and Exchange Commission (SEC) by industry behemoths BlackRock and Fidelity earlier this month. Valkyrie also re-filed their 19b-4, like BlackRock they mention specific SSA agreement w/ Coinbase, even seems more aggressive (more use of the words ‘executed’ and ‘agreement’) They also,…

Binance, Coinbase and Gemini staff are among the least happy, data suggests

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Crypto exchanges including Gemini, Binance and Coinbase are home to some of the least happy employees in the industry, according to data derived from Glassdoor — though some argue the results may be skewed. A quadrant chart by tech recruitment firm TrueUp — understood to have collated data from job review platform Glassdoor — mapped out how crypto firms stack up when it comes to employee happiness versus growth. 27 of the most valuable cryptocurrency firms were placed on TrueUp’s quadrant chart. A chart depicting the happiest, least happy workers…