Tag: Coinbase

Lawyer Expects SEC to Lose if It Sues Coinbase Due to ‘Fatal Flaw’ of Gary Gensler’s Own Making – Bitcoin News

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A lawyer has explained why the U.S. Securities and Exchange Commission (SEC) will likely lose if the regulator takes crypto exchange Coinbase to court over alleged securities law violations. “The problem is entirely of Gary Gensler’s own making,” he stressed. Lawyer Expects SEC to Lose Against Coinbase in Court Lawyer James Murphy explained in a series of tweets Wednesday why he believes the U.S. Securities and Exchange Commission (SEC) will lose if it takes Coinbase to court. Murphy started law firm Murphy & McGonigle in 2010 to represent clients in…

Coinbase Shares Jump 18% After Brian Armstrong Says Exchange Had ‘Turning Point’ First Quarter

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Coinbase (COIN) shares surged by more than 18% on Friday after the company’s chief executive, Brian Armstrong, said in an earnings call on Thursday that the exchange had a “turning point” quarter to kick off 2023. Armstrong notes that the company experienced 22% net revenue growth in 2023 Q1 compared to the final quarter of last year, according to a transcript of the call. Coinbase also witnessed a 24% decrease in operating expenses quarter-over-quarter. Says the CEO, “Q1 marked a real turning point in our financial performance. Revenue was up…

Top US Crypto Exchange Coinbase Rolls Out Official Trading Support for Ethereum-Based Cross-Chain Bridge Altcoin

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Top US crypto exchange Coinbase is rolling out trading support for an under-the-radar cross-chain bridge altcoin built on Ethereum (ETH). The exchange’s customers can now trade Multichain (MULTI), a cross-chain protocol that aims to be “the ultimate router for Web 3.0.” Formerly known as Anyswap, the project launched in July 2020 and has processed $103.45 billion in total volume. It currently supports 92 different chains. Multichain currently ranks third among all cross-chain bridge projects in terms of total value locked (TVL), with $1.8 billion at time of writing, according to…

Coinbase Stock (COIN) Jumps 16% Post-Earnings; Analysts Praise Results but Worry About Regulatory Uncertainty

“Overall, we were pleased with the result and would characterize the near-term financial outlook as a modest positive to expectations,” Devin Ryan, JMP Securities financial technology research director, wrote in a note to investors. “Given the continuation of a challenging environment, coupled with all the regulatory headlines, it was nice to see a relatively clean quarter with respectable results, all things considered.” Source

Coinbase Revenue Increases from $628M to $736M in Q1 2023

According to the chief investment officer at Coinbase, the crypto firm is venturing into the derivatives market in order to better serve the international customer base. With a quarterly revenue of $736 million in Q1 2023, the popular cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) smashed analysts’ expectations. According to FactSet, analysts expected Coinbase to announce revenue of $655 million in the year’s first quarter. The newly reported fiscal report also surpassed the 2022 Q4 revenue of $629 million. Coinbase shares increased by 8% to $53 at the close of…

Coinbase remains ‘100% committed’ to US market: Armstrong

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United States-founded cryptocurrency exchange Coinbase has no plans to move its operations out of the U.S., CEO Brian Armstrong told investors in an Q1 earnings call. On May 5, Armstrong assured shareholders the firm is “100% committed” to the U.S. market over the long term despite regulatory uncertainty in the U.S. “So let me be clear, we’re 100% committed to the U.S. I founded this company in the United States because I saw that rule of law prevails here. That’s really important, and I’m actually really optimistic on the U.S.…

Coinbase share price spikes 7.9% as Q1 results beat expectations

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Crypto exchange Coinbase managed to significantly narrow its net loss in the first quarter of 2023, due in part to robust earnings from retail investor trading activity. The company’s net loss fell from $557 million in Q4 2022 to $79 million in Q1, partly attributed to a 22% increase in revenue to $736 million. The results beat expectations from some analysts, leading to a 7% spike in Coinbase’s (COIN) share price in after hours trading. Coinbase’s (COIN) share price. Source: Google Finance. Transaction revenue — derived from fees its charges for…

Coinbase Shares Rise as Q1 Revenue Grows 23% From Q4 to $773M

“America is in a position to lead in crypto and help update the global financial system,” Coinbase said in a letter to shareholders. “We need crypto specific rules, rather than regulation by enforcement, to help this innovative technology flourish and for America to maintain its leadership position.” Source 773MCoinbaseGrowsRevenueRiseShares CryptoX Portal

Coinbase Shares Rise as Q1 Revenue Grows 23% to $773M From Q4

Crypto exchange Coinbase (COIN) reported Q1 revenue of $773 million, exceeding analyst estimates of $655 million, according to FactSet, and up from Q4 revenue of $629 million. The company reported an adjusted loss of $0.34 per share, compared to an analyst estimate for a loss of $1.45 per share and a narrowing from Q4’s loss of $2.45 per share. Source

ZkLink Raises $10M From Backers Including Coinbase Ventures

“zkLink plays a crucial role in shaping the future of the crypto landscape by leveraging the potential of ZK technology,” co-founder Vince Yang said in an email to CoinDesk. “For newcomers to the field, envision a scenario where DeFi trading delivers comparable user experience, efficiency, and speed as centralized exchanges, but also provides the advantages of being trustless and non-custodial.” Source 10MBackersBitcoinCoinbasecryptoexchangeExchangesIncludingRaisesVenturesZkLink CryptoX Portal