The crypto exchange is faced with several risks that could trigger a reversal of the stock’s recent gains, the report said. Source
Investor Enthusiasm for Coinbase Shares May Prove Short-Lived: Berenberg
Tag: Coinbase
SEC vs Coinbase Case Set for July 13 After Exchange’s ‘Creative' Opening Response
The Securities and Exchange Commission (SEC) will present its response to Coinbase’s first legal defense, filed Thursday, on July 13, the court has ordered. Source
Coinbase layer-2 network Base closes in on mainnet launch
Base, a new layer 2 application-focused protocol by Coinbase has just one criteria left to fulfil before being ready for mainnet launch. On June 29, the team said the Optimism-powered, Ethereum-secured network has been subject to six months of rigorous security audits — both internally and externally — its second-last criteria required for launch. “With the completion of these audits, we’ve now fulfilled ⅘ of our criteria for mainnet launch,” Base said, adding that they feel confident after not finding any critical code bugs: “Completing these in-depth security workstreams without…
Coinbase Files Motion To Dismiss SEC Case Against the Crypto Exchange
Top US-based crypto exchange Coinbase is filing a motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against it. The SEC sued Coinbase earlier this month alleging that the platform was selling unregistered securities after it dubbed a number of crypto assets, such as Cardano (ADA), Solana (SOL), and Polygon (MATIC), as securities. However, Coinbase recently filed a motion with the Southern District of New York to dismiss the lawsuit, saying that the regulatory body lacks jurisdiction. In the filing, Coinbase argues that its transactions don’t qualify as…
Canadian ETF Issuer 3iQ to Work With Coinbase to Offer ETH Staking
“While staying true to the investment objectives of the Funds, we believe that commencing ETH staking offers the best of both worlds to our investors – providing additional yield while eliminating the complexities of directly handling digital assets,” Fred Pye, Chairman and CEO of 3iQ, said in a statement. Source 3iQCanadianCoinbaseETFETHIssuerOfferStakingWork CryptoX Portal
The SEC is targeting Coinbase, Binance as proxies in its war on crypto
Imagine your daily commute to work, uninterrupted by traffic lights or stop signs, allowing you to sail smoothly. Suddenly, a new red stop sign disrupts your route, turning a main intersection into a four-way stop overnight. That evening, a letter from local law enforcement shocks you with a hefty retroactive fine for every time you passed the spot where the new sign stands today. Absurd as it seems, this analogy encapsulates the United States Securities and Exchange Commission’s approach in its lawsuits against Coinbase and Binance. The SEC throws a…
Coinbase seeks dismissal of SEC suit, claims extraordinary abuse of process
In the ongoing legal battle between Coinbase and the United States Securities and Exchange Commission (SEC), the American cryptocurrency exchange has filed a motion to dismiss the SEC’s complaint. In a legal document filed on Thursday, June 29 with the U.S. District Court for the Southern District of New York, Coinbase raised concerns about the SEC’s interpretation of securities laws, suggesting the agency was reaching beyond its legal authority. This move underscores Coinbase’s determination to challenge the SEC’s lawsuit. The motion to dismiss argues that even if all the allegations…
Crypto Exchange Coinbase (COIN) Responds to the SEC’s Lawsuit
In its first legal response to the U.S. Securities and Exchange Commission’s (SEC) lawsuit, crypto exchange Coinbase (COIN) claimed that digital assets listed on its platform fall outside the regulator’s (SEC) purview. The SEC sued Coinbase at the beginning of June, alleging that a dozen of the cryptocurrencies offered through its wallet or trading platforms were unregistered securities. In its answer, filed early Thursday, Coinbase claimed that these cryptos are not investment contracts and therefore not securities. It’s an argument Coinbase has advanced before in public statements, but Thursday’s filing…
Bitcoin Miner Hut 8 Secures Up to $50M in Loans From Coinbase
The first $15 million will be drawn shortly after closing the deal, while another $15 million is conditional on closing a merger with peer USBTC. Original
Coinbase Credit lends Hut 8 $50M to support Bitcoin treasury
The Canadian Bitcoin (BTC) mining company, Hut 8 Mining, has secured a credit facility from a subsidiary of the United States-based cryptocurrency exchange, Coinbase. Hut 8 officially announced on June 26 that it entered into a $50 million credit agreement with Coinbase Credit as lender. The credit facility involved Hut 8’s subsidiary, Hut 8 Holdings, as the borrower. According to the announcement, the loan proceeds will be used for general corporate purposes. The credit facility provides a $15 million term loan that is expected to be funded at or subsequently…