Tag: Coinbase

Coinbase calls PEPE a ‘hate symbol,’ prompting calls to boycott the exchange

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An email sent out to Coinbase customers describing memecoin Pepe (PEPE) as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the memecoin community.  Prominent crypto influencer Borovik.eth shared a screenshot of the email newsletter from May 10 to his 96,000 followers, which cites a 2016 decision from the Anti-Defamation League to place the frog-themed character in its database of online hate symbols. Why is @coinbase sending out emails telling people that $pepe is an alt-right hate symbol?? pic.twitter.com/UNzClQlwwv — borovik.eth (@3orovik) May 11, 2023 Fans and…

Coinbase Says UAE Is Important Strategic Hub for Crypto Exchange’s Global Operations

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US crypto exchange giant Coinbase is calling the United Arab Emirates (UAE) a possible key location for its planned expansion of global operations. According to a new blog post, Coinbase CEO Brian Armstrong and other executives are meeting with UAE policymakers in Dubai as they consider expanding to the crypto-friendly region. Says Coinbase, “Crypto and Web3 serve as enormous opportunities for economic and technological diversification for the UAE, and the region has the potential to be a strategic hub for Coinbase, amplifying our efforts across the world.” The visit comes…

OKX takes a subtle jab at Coinbase in new ad campaign

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It comes after Coinbase launched a campaign on March 9 called “It’s time to update the system.” OKX’s message came at the end of a 60-second video campaign launched May 9 that takes aim at the so-called “broken ways” of the centralized financial system. Crypto exchange OKX has seemingly called out rival exchange Coinbase in a new global ad campaign that argues “the system doesn’t need an update, it needs a rewrite.”  While the video doesn’t reference Coinbase directly, it does appear to take a subtle dig at the exchange…

Former Coinbase product manager behind insider trading case sentenced to 2 years in prison

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A federal judge has sentenced Ishan Wahi, the former product manager at Coinbase Global accused of insider trading, to 24 months in prison. In a May 9 hearing in United States District Court for the Southern District of New York, Judge Loretta Preska sentenced Wahi to 2 years in prison for his role in using confidential information he obtained during his time working at Coinbase to profit off new listings of tokens, totaling up to $1.5 million. Preska ordered Wahi to surrender by June 21 at 2:00 PM ET to…

Bitcoin fee spike spurs shift to Lightning Network — Binance and Coinbase line up

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The recent surge in Bitcoin (BTC) transaction fees has lit a fire under one of the largest crypto exchanges to upgrade to the Bitcoin Lightning Network. Following a second halt in withdrawals, Binance announced it would work on “enabling BTC Lightning Network withdrawals, which will help in such situations.” To prevent a similar recurrence in the future, our fees have been adjusted. We will continue to monitor on-chain activity and adjust accordingly if needed. Our team has also been working on enabling BTC Lightning Network withdrawals, which will help in…

Coinbase legal chief sends letter to SEC on RIA rulemaking

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Coinbase’s legal chief has requested the United States Securities and Exchange Commission (SEC) make several revisions to its proposed regulation on the responsibilities of registered investment advisers (RIAs) for storing client assets with qualified custodians. Although the SEC acknowledges Coinbase Custody Trust Company as a “qualified custodian,“ Coinbase contends that the updated RIA custody rule unfairly targets crypto and makes improper assumptions about custodial practices based on securities. According to a May 8 letter from Coinbase chief legal officer Paul Grewal, the proposed SEC rulemaking fails to safeguard other asset…

Coinbase execs visit UAE to test potential of ‘strategic hub’ for international operations

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Following United States-based crypto exchange Coinbase announcing the launch of its global derivatives platform, key executives at the firm are meeting with industry leaders and policymakers in the United Arab Emirates. In a May 7 blog post, Coinbase said chief executive officer Brian Armstrong and some of the firm’s executive team planned to discuss the potential for the UAE “to be a strategic hub” for the crypto exchange. According to the company, it was working with regulators in the Abu Dhabi Global Market and Dubai’s Virtual Assets Regulatory Authority as…

Coinbase CEO Brian Armstrong Says Crypto Exchange 100% Committed to the US Despite Regulatory Crackdown

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Coinbase CEO Brian Armstrong says the firm is confident it can pull through the current anti-crypto regulatory crackdown that is stirring uncertainty across the industry. During Coinbase’s first quarter earnings call, Armstrong says the exchange remains completely committed to making things work at home in the US.  Coinbase recently received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) warning of a potential coming enforcement action against the company for alleged violation of securities laws. “So let me be clear, we’re 100% committed to the U.S. I founded…

Coinbase CEO Says Exchange Would No Longer Exit US amid Regulatory Scrutiny

The SEC served Coinbase with a Wells Notice in March to signal an upcoming enforcement action against the exchange.  The CEO of top American cryptocurrency exchange Coinbase Brian Armstrong has hinted that the exchange will not bow to pressure from the US Securities and Exchange Commission (SEC). Armstrong, who has been openly critical of SEC and its chair Gary Gensler, made more accusations on Monday. In a bare-it-all interview with CNBC on Monday, Armstrong suggested that Gensler leads some form of personal campaign against crypto. He says: “There’s kind of…