Tag: Coinbase

Why Cathie Wood is bullish on Coinbase stock and believes Bitcoin will reach $1 million

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In an interview with Bloomberg, ARK Invest CEO and CIO Cathie Wood recently discussed why her flagship fund, Ark Innovation (ARKK), is adding to its position in shares of Coinbase (COIN) after the SEC sued Binance, one of Coinbase’s biggest competitors. ARKK purchased nearly 330,00 shares of COIN on June 6, 2023, worth about $17 million at the time, according to disclosure statements. Two other funds, Ark Fintech Innovation ETF and Ark Next Generation Internet ETF, also bought 35,700 shares, worth $1.8 million, and 53,900 shares, worth $2.8 million, respectively. …

Coinbase Stock and Price Target Rise despite SEC Indictment and Lawsuit

Coinbase is still enjoying a relatively healthy market sentiment as its stock price and target seem unperturbed by the SEC’s lawsuit. The stock price of Coinbase (NASDAQ: COIN) rose roughly 6% last week, along with the average price target expected by analysts. The major crypto exchange’s stock climbed 5.93% over the period, closing at $55.59. According to data from MarketWatch, COIN has seen more than 57% in year-to-date (YTD) gains, despite its 26.86% drop over the last three months. COIN has also shed 2.10% of its weight in the past month.…

Coinbase Blasts SEC for No Clear Answers Even after Court Order

Coinbase chief of legal said that the Court should grant a mandamus since the SEC’s delay is severely impacting the industry. Crypto exchange Coinbase has been actively pursuing its case against the US Securities and Exchange Commission (SEC) to gain enough clarity on the regulatory rules for digital assets. The exchange recently blasted the federal securities regulator for failing to answer questions asked in the US Court of Appeals. In the June 17 letter filed in the court, lawyers representing Coinbase accused the SEC of offering “no straight answers” in…

Coinbase blasts SEC for ‘no straight answers’ following court order

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Coinbase has slammed the United States securities regulator for failing to answer questions asked in the U.S. Court of Appeals as part of its ongoing legal battle with the regulator. In a June 17 letter filed in the Court, lawyers for the crypto exchange accosted the Securities Exchange Commission (SEC) for continuing to offer “no straight answers” to the Court in relation to Coinbase’s rulemaking petition, which calls on the SEC to establish a regulatory framework for digital assets. “When ordered by this Court to address the stark inconsistency between…

Top US Crypto Exchange Coinbase Partners With Jack Dorsey’s Self-Custody Wallet Bitkey

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Top US crypto exchange Coinbase plans to integrate Bitkey, a self-custody wallet developed by Jack Dorsey’s fintech company, Block. In a recent announcement, Coinbase says it has entered a global partnership with Bitkey in an effort to foster the growth of self-custody usage. Dorsey, the billionaire co-founder and former CEO of Twitter, plugged the new partnership online. “Buy Bitcoin from an exchange and move it to a hardware key you control.” News of the partnership comes in the wake of Bitkey’s announcement to open applications for its beta program that…

Robinhood retail crypto market share versus Coinbase rising

In recent crypto market shifts, retail investors may be migrating from Coinbase Global Inc. to Robinhood Markets Inc., according to an analysis by Mizuho Securities’ Dan Dolev. In an unexpected development in the crypto trading sphere, retail investors utilizing Coinbase Global Inc.’s services are shifting their operations to Robinhood Markets Inc., posits Mizuho Securities analyst Dan Dolev. Through his interpretation of April’s data, Dolev theorizes that Robinhood could take a larger portion of the retail crypto transaction market from Coinbase. Robinhood has gained notable popularity among home-based stock traders, raising its profile in the…

Coinbase demands SEC respond to rulemaking petition

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase is moving to gain an advantage in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The crypto exchange has responded to the commission’s request for an additional 120 days to reply to its rulemaking petition by filing a solid response in the U.S. Court of Appeals for the Third Circuit. Paul Grewal, Coinbase’s Chief Legal Officer, announced the filing, emphasizing that the crypto exchange cannot wait until next week’s deadline to…

Bitkey Forms Alliance with First Global Partners: Coinbase and Cash App

While announcing Coinbase and Cash App as the new partners, Bitkey referred to some information it passed in March. Bitkey, a self-custody Bitcoin wallet app by Jack Dorsey’s Block, is partnering with Cash App and crypto exchange Coinbase (NASDAQ: COIN). The Bitcoin wallet application announced its first two global partners on June 15, noting that it aims to make self-custody more accessible. In addition to enabling customers to purchase, the alliance assures control over private keys. Previously, former Twitter CEO Jack Dorsey conducted an in-house beta of the Bitcoin self-custody wallet, which…

Coinbase Report Casts Doubt on Bitcoin Halving Effects on Market Performance

It remains uncertain how the upcoming halving will affect Bitcoin’s price behavior, especially with global liquidity appearing to have peaked in the near term. With the next Bitcoin (BTC) halving anticipated in the second quarter of 2024, there is considerable speculation about its potential impact on the performance of the leading crypto asset and the market in general. However, according to reports, a new  Coinbase publication suggests that while halving is often seen as a positive event due to its effect on Bitcoin scarcity and supply-demand dynamics, the true outcome of…