Tag: Coinbase

ARK Invest spends Int’l Workers’ Day by buying $8M in Coinbase shares

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ARK Invest, the investment management firm founded by legendary investor Cathie Wood, has celebrated International Workers’ Day by buying shares of the cryptocurrency exchange Coinbase. On May 1, ARK purchased 129,604 Coinbase (COIN) shares for its ARK Innovation exchange-traded fund (ARKK), according to an investor notification seen by Cointelegraph. The investment company also bought 23,456 COIN stocks for the ARK Next Generation Internet ETF (ARKW) and 15,809 Coinbase shares for the Fintech Innovation ETF (ARKF). The entire purchase amounted to 168,869 Coinbase stocks, worth around $8.5 million. The acquisition makes…

ARK Invest spends Int’l Workers’ Day buying $8M in Coinbase shares

ARK Invest, the investment management firm founded by legendary investor Cathie Wood, has celebrated International Workers’ Day by buying shares of cryptocurrency exchange Coinbase. On May 1, ARK purchased 129,604 Coinbase shares for its ARK Innovation exchange-traded fund (ETF), according to an investor notification seen by Cointelegraph. The investment company also bought 23,456 Coinbase shares for its ARK Next Generation Internet ETF and 15,809 for its Fintech Innovation ETF. The entire purchase amounted to 168,869 Coinbase shares, worth around $8.5 million. The acquisition makes up nearly 50% of the total…

Coinbase faces suit over alleged privacy violations in biometrics collection

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Coinbase violated biometric privacy laws in Illinois through its collection and storage of customer fingerprints and facial templates, a proposed class-action lawsuit alleges. A May 1 filing in a California District Court by a Coinbase user claimed the exchange’s requirement that a customer uploads pictures of a valid ID and a self-portrait in order for the firm to conduct Know Your Customer (KYC) checks is violating certain provisions of Illinois’ Biometric Information Privacy Act (BIPA). The lawsuit argues BIPA required Coinbase to gain permission from users when collecting their biometrics.…

Coinbase exec uses ChatGPT ‘jailbreak’ to get odds on wild crypto scenarios

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A Coinbase executive claims to have discovered a “jailbreak” for the artificial intelligence tool ChatGPT that allows it to calculate the probability of bizarre crypto price scenarios. The crypto exchange’s head of business operations Conor Grogan, an avid ChatGPT user, shared a screenshot of the results in an April 30 tweet — showing that ChatGPT states there be a 15% chance that Bitcoin (BTC) will “fade to irrelevancy” with prices falling over 99.99% by 2035. Meanwhile, the chatbot assigned a 20% chance of Ether (ETH) becoming irrelevant and approaching near-zero price…

Coinbase launches NFT campaign, seeks implementation of pro-crypto policies

Coinbase, a San Francisco-based cryptocurrency exchange, has launched a non-fungible token (NFT) campaign dubbed “Stand With Crypto” to empower the community and promote implementation of favorable policies. The launch comes after Coinbase sued the United States Securities and Exchange Commission (SEC) earlier this week requesting clarity about the agency’s position on crypto legislation. Coinbase blue shield NFT The campaign, launched on April 25, features a blue shield on Coinbase’s commemorative NFT. It represents the group’s effort to safeguard and advance the potential of cryptocurrency.  Coinbase urged campaign participants to add…

Investment Bank H.C. Wainwright Believes Crypto Winter Is Over, Rates Coinbase Stock as ‘Buy’ 

Analysts at H.C. Wainwright have said that the crypto winter of 2022 ceases to have any bearing on related stocks.  H.C. Wainwright believes that the crypto winter is over and has called for a buy on Coinbase (NASDAQ: COIN) stock. According to the New York-based investment bank, Coinbase stands to benefit from global digital asset economy growth sooner rather than later. H.C. Wainwright released a statement on Wednesday that underscored its bullishness on the prices of crypto assets. The investment banking platform wrote: “Crypto asset prices have rallied 45% YTD, supported by a 67%…

Coinbase Firmly Responds to SEC’s Wells Notice Claiming No Violation of Securities Laws

In its response, Coinbase clearly mentioned the exchange has not engaged in any activity that violates federal securities laws. It also slammed the SEC for refusing to engage in a meaningful dialogue on crypto regulations. On Thursday, April 27, crypto exchange Coinbase offered a fiery response to last month’s Wells Notice issued by the US Securities and Exchange Commission (SEC). Coinbase’s chief legal officer Paul Grewal clearly told the federal regulator that any kind of enforcement action against the exchange would lead to major “problematic risks” for the SEC and…

Coinbase Responds to SEC Wells Notice, Defends Cryptocurrency Lending Products

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On April 27th, Coinbase, a well-known cryptocurrency exchange based in San Francisco, boldly responded to a recent Wells Notice issued by the United States Securities and Exchange Commission (SEC) in March. For those unfamiliar with the term, a Wells Notice is a warning that the SEC is considering taking legal action against a company. It’s a serious matter and not one to be taken lightly. In the wells notice letter, the watchdog regulator urged that Coinbase lending products that allow cryptocurrency users to earn interest on certain digital assets are…

Coinbase execs respond to SEC’s Wells notice in person and on video

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Executives of cryptocurrency exchange Coinbase took their company’s regulatory issues to the public on April 27, with chief legal officer Paul Grewal speaking at Consensus 2023 and appearing with CEO Brian Armstrong in a video released on YouTube. The appeal was in response to a Wells notice received by the firm, a notification by the United States Securities and Exchange Commission (SEC) that it may intend to carry out enforcement actions against it. “Coinbase’s core commitment to regulatory compliance has never wavered,” Grewal said in the video, which was addressed…

Coinbase Shares Wells Response, Challenges SEC’s Change in Attitude Towards Its Core Businesses – Bitcoin News

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On April 27, Coinbase, the crypto exchange based in San Francisco, made public the disclosure of its response to the Wells notice it had received from the U.S. Securities and Exchange Commission (SEC) back in March. The company maintained that the regulatory body’s enforcement actions were in direct contrast to the agency’s previous approval of the firm’s public listing via its S-1 filing. Coinbase asserted in its response to the SEC that it is the “innocent investors who stand to lose the most from the commission’s abrupt about-face.” Coinbase Responds…