Tag: Coinbase

US Supreme Court halts Coinbase cases in its first crypto ruling

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The United States Supreme Court decided in favor of cryptocurrency exchange Coinbase on June 23 in a partisan opinion that will halt court proceedings against the company in two California cases.  Plaintiffs in the class-action lawsuits alleged Coinbase failed to provide proper relief after users lost money and that Coinbase allegedly engaged in deceptive advertising. Coinbase asked the district courts overseeing the cases to dismiss them on the grounds that, per the company, users signed an agreement upon creating their accounts stating that such disputes would be handled through arbitration…

Brian Armstrong Reveals Plans to Turn Coinbase Into a ‘Super-App’

Coinbase will work to become a “super-app” over the next 5 to 7 years. Coinbase CEO Brian Armstrong has not let the recent regulatory pressure from the US Securities and Exchange Commission (SEC), get to him. This follows after the SEC recently slammed the exchange with a damning lawsuit that has thrown crypto markets into uncertainty. In the face of all the uncertainty, however, Armstrong has continued to see great potential for the digital ecosystem. “We Want to Be That Super-App”, Says Brian Armstrong While speaking at Coinbase’s State of…

Coinbase Report: Over 50% Of Fortune 100 Companies Have Blockchain Initiatives In Pipeline

The cryptocurrency industry in the United States seems set for continuous expansion, despite the increasing regulatory pressure in the country. According to a new report by crypto exchange Coinbase, several leading U.S. corporations are undertaking blockchain initiatives to remain competitive in the global market. Coinbase Reports Increased Corporate Adoption Of Blockchain In The US A report by Coinbase titled “The State of Crypto: Corporate Adoption” reveals that 52% of the Fortune 100 companies have made crypto, blockchain, or Web3 efforts since the start of 2020. It was found that approximately…

Over Half of Fortune 100 Companies Embrace Crypto, Blockchain, and Web3, Reveals Coinbase Report

According to a recent report released by Coinbase, more than half of the Fortune 100 companies in the US have been actively pursuing crypto, blockchain, or web3 initiatives since the beginning of 2020. This surge in adoption is driven by the recognition that the outdated global financial system needs modernization and the need to stay competitive in the global economy. The report highlights that 83% of surveyed Fortune 500 executives familiar with cryptocurrency or blockchain have existing initiatives or plans for the future. However, the lack of clear regulations…

Coinbase Takes Preemptive Legal Measures to Navigate Regulatory Storm

In addition to recruiting top-tier lawyers to bolster its defense, Coinbase has also filed “amicus briefs,” commonly known as friend-of-the-court briefs. In the face of intensified regulatory scrutiny within the cryptocurrency industry, Coinbase Global Inc (NASDAQ: COIN), a prominent American digital assets service provider, took a strategic legal approach to proactively influence court rulings in unrelated cases before becoming the primary target of a US crackdown. According to a recent report by Reuters, Coinbase engaged in a counterattack by enlisting the expertise of highly esteemed attorneys in two separate crypto-related…

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.…