Tag: Coinbase

Man Charged in Coinbase Insider-Trading Scheme To Pay the US Exchange $469,525.50 in Restitution

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One of the perpetrators in the first-ever crypto insider trading case is required to pay digital asset exchange Coinbase in addition to serving jail time. A New York District Court filing signed by Judge Loretta A. Preska on April 6th orders Nikhil Wahi, brother of former Coinbase product manager Ishan Wahi, to pay the exchange $469,525.50 in restitution while serving his sentence behind bars. “The defendant shall make installment payments toward restitution and may do so through the Bureau of Prisons’ (BOP) Inmate Financial Responsibility Plan (IFRP). Any unpaid amount…

ERC-20 tool recovers $150M — Coinbase exec explains how

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In episode 15 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks with Will Robinson, vice president of engineering at crypto exchange Coinbase. They discuss the exchange’s vision for the future of the cryptocurrency industry, which is tied to its new Ethereum layer-2 network, Base. Robinson provides updates on the exchange’s latest tools, including an ERC-20 recovery function, wallet as a service and more. The episode starts with Robinson explaining what his role entails. Robinson explains that he manages the developer product group responsible for internal crypto infrastructure, developer-facing…

Coinbase Wins $470,000 in Insider Trading Case

Following the guilty plea and while he is serving 10 months in prison, a New York District Court has released an order of restitution for the ex-Coinbase employee’s brother. Coinbase is expecting almost $470,000 from the brother of a former employee who allegedly benefitted from an insider trading scheme. Nikhil Wahi, the brother of former Coinbase product manager Ishan Wahi pleaded guilty to charges related to insider trading. He entered a guilty plea for wire fraud conspiracy charges after he was arrested for allegedly working with his brother and another…

Coinbase wins $470K restitution in insider trading case

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The brother of a former Coinbase employee has agreed to pay the cryptocurrency exchange nearly $470,000 for his role in an insider trading scheme. According to a New York District Court filing signed on April 6 and made public on April 10, Nikhil Wahi — brother of former Coinbase product manager Ishan Wahi — will be required to begin making restitution payments while serving time in prison in what is believed to be the first insider trading case involving crypto. The amount must be paid in full within 20 years…

Coinbase Senior Director Leaves Company to Start New Crypto Project

Vishal Gupta ends his two-and-a-half-year stint at Coinbase as the proceeds to undertake a new crypto project, said sources. There’s yet another major exit from a senior position at crypto exchange Coinbase. On Monday, April 10, Coinbase’s senior director of product management – Vishal Gupta – announced an exit from the company. Sources familiar with the matter said that the decision comes as Gupta is planning to work on a new crypto project. Although the details regarding the new project are unclear, Gupta plans to continue working in the crypto…

Coinbase head of exchange departs and plans to start new crypto project: Report

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Vishal Gupta, who has been the head of exchange at Coinbase, is reportedly leaving his position after more than two years at the United States-based cryptocurrency exchange. According to an April 10 Bloomberg report, Gupta planned to exit Coinbase but remain in the crypto space, suggesting he could be planning to start a new project focused on digital assets or blockchain. Prior to his time at Coinbase, Gupta was the head of USD Coin (USDC) for stablecoin issuer Circle as well as a vice president for Goldman Sachs. Former FTX…

Coinbase CEO says Bitcoin Lightning is ‘something we’ll integrate’

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Bitcoin (BTC) layer 2 scaling solution Lightning may feature on the cryptocurrency exchange Coinbase in some capacity, according to its chief Brian Armstrong. In a tweet on April 8, Armstrong said that “Lightning is great and something we’ll integrate” in response to a tweet criticizing him for “actively ignoring” the network. My tweets auto-delete after some number of months, so there is no search history. Lightning is great and something we’ll integrate. — Brian Armstrong (@brian_armstrong) April 8, 2023 Armstrong provided no further details on what a Lightning integration with…

Coinbase Backs New Filing in Support of Tornado Cash

According to the case filed on April 5 in a Texas District Court, the plaintiffs, with support from Coinbase, want the OFAC to settle the first two counts from its original complaint, which was filed last September. Popular public listed exchange Coinbase is supporting the new class that seeks a reversal of the Tornado Cash ban. With this, the US Treasury is faced with a renewed legal case targeted at its move to sanction the crypto mixer. The motion to remove the Tornado Cash ban was filed by six individuals…

Coinbase Institutional Assesses Ethereum & Bitcoin Price Development Ahead of Shapella Upgrade

In a podcast, the Coinbase Institutional team delved into bullish and bearish scenarios for Ethereum and Bitcoin as ‘Shapella’ approaches.  Ahead of the Ethereum Shapella Upgrade, Coinbase Institutional weighed in on the mainnet upgrade’s potential impact on Ether and Bitcoin (BTC). In a YouTube podcast, the team provided insight into whether April 12th’s much-anticipated upgrade would further spur the ongoing crypto rally. The Coinbase Institutional team also discussed the bear market scenario for Ethereum and Bitcoin post-Shapella. According to Coinbase Institutional, BTC purchases dominated the digital currency landscape – especially in the year’s first quarter.…