Tag: Coinbase

Coinbase supports new court action to remove Tornado Cash ban

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The United States Treasury faces a renewed legal challenge that aims to overturn the decision to sanction the crypto mixer Tornado Cash from six individuals backed by cryptocurrency exchange Coinbase. A motion for a partial summary judgment was filed on April 5 in a Texas District Court, the Coinbase-backed plaintiffs moved for the U.S. Office of Foreign Asset Control (OFAC) to settle for the first two counts from its original complaint filed in September 2022. If granted, it would see the Judge rule on some of the factual issues while…

Coinbase Says Americans Could Save Billions on Remittances Fees by Using Crypto

Coinbase reported that crypto assets like BTC and ETH could help Americans cut the cost of sending money internally, which contributes to the high remittance fees. American crypto company Coinbase (NASDAQ: COIN) explained in a recent report how crypto could help Americans save millions in remittance fees. According to the crypto company, Americans who rely on remittance fees face obstacles due to the disconnected global financial system. It also talks about how there is no universal appreciation for the value of remittances, which are the funds people send to their…

Crypto could eliminate 97% of traditional remittance fees: Coinbase

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A recent blog post from cryptocurrency exchange Coinbase indicates the vast majority of U.S. remittance fees for international transfers wouldn’t apply to similar transactions conducted using cryptocurrency.  According to the exchange’s research, “The US average fee rate of 6.18%, means Americans’ average yearly spend is likely close to $12 billion on remittance fees.” The post goes on to state that the average transaction time for such remittances ranges from one to 10 days, while similar cryptocurrency transactions usually take around 10 minutes. Remittance payments represent a sort of ‘double whammy’…

SEC reaches ‘agreement in principle’ to resolve insider trading case of Coinbase product manager

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The United States Securities and Exchange Commission is moving forward with a resolution to the case against a former product manager at Coinbase Global accused of insider trading. In an April 3 filing in U.S. District Court for the Western District of Washington, the SEC said it had reached “an agreement in principle” with Ishan Wahi. The former Coinbase employee — along with his brother Nikhil Wahi and associate Sameer Ramani — allegedly used confidential information he obtained from the crypto exchange in order to profit off new listings of…

The SEC’s Beaxy Suit Looks Like a Coinbase Case Preview

“Platforms like the Beaxy Platform require users to deposit with the platform all of the crypto asset securities that they traded there, resulting in the platform possessing, and even becoming the legal owner of such assets and thus a central securities depository,” the filing said. “This type of arrangement means that an unregistered crypto asset platform like the Beaxy Platform could use assets in their possession and control for its own purposes, thereby exposing investors to significant and at times undisclosed risk of loss of their assets. Investors who invest…

Coinbase to Offer Faster Transactions on Derivatives Exchange Through Partnership With Infrastructure Provider TNS

“Crypto has witnessed both volatile and liquid markets, and with institutional adoption remaining strong, we believe the time is right for the offering that TNS brings to the table,” CDE’s CEO Boris Ilyevsky said. “Dedicated cloud infrastructure connectivity coupled with our derivatives exchange represents a mission-critical step toward supporting and maintaining a vibrant and reliable crypto derivatives market.” Source

Coinbase Ventures Joins Liquid Staking Protocol Rocket Pool’s Oracle DAO

As such, Coinbase Ventures will receive a share of the 15% of the total RPL inflation produced at each rewards period dedicated to Rocket Pool’s Oracle DAO. RPL, the native token for the Rocket Pool ecosystem that provides direct incentives, insurance and governance for protocol according to a blog post, has traded flat in April, ranging between $43 and $44, per CoinGecko. Additionally, rETH, Rocket Pool’s staking derivative, has a premium against ETH: On Uniswap, 1 rETH swaps for 1.07295 ETH at press time. Source

Coinbase share price slides amid SEC lawsuit fears. DigiToads presale building momentum

Over the past week, the share price of COIN by Coinbase, a cryptocurrency exchange platform, plummeted by around 15%. The dip comes days after Coinbase announced it received a Wells notice from the Security Exchange Commission (SEC). The regulator believes the exchange may be involved in a possible “violation of investor-protection laws.” Coinbase’s announcement of a potential lawsuit has impacted its market performance. Consequently, crypto users are looking for alternative high-potential altcoins for 2023.  Amid the market gloom, DigiToads is among the cryptocurrency attracting many investors with its wide variety…

Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News

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This week, 2,600 tech industry moguls and entrepreneurs, including Elon Musk, Gary Marcus, and Steve Wozniak, signed an open letter requesting artificial intelligence (AI) labs to pause research and development for six months. The signatories believe that safety programs and regulations need to be strengthened, as they assert that AI labs are currently in an “out-of-control race to develop and deploy” this technology. On Thursday, Coinbase CEO Brian Armstrong disagreed with this approach, stating that people should not “let fear stop progress.” The Debate on AI Safety: Tech Industry Leaders…