Tag: Coinbase

Coinbase going international sparks community reactions: ‘Crypto is global’

boss

Amid the regulatory struggles in the United States, crypto exchange Coinbase has decided to bring its business abroad with a global platform. Following this, members of the crypto community expressed their opinions, with some criticizing the Securities and Exchange Commission (SEC) and others expressing confidence in crypto’s future.  On May 2, the exchange announced the launch of Coinbase International Exchange (CIE), which is a crypto derivatives platform catering to institutional investors. Trading in the exchange will be offered to institutional clients in eligible jurisdictions outside of the U.S. It’s official!…

Coinbase Launches International Exchange with BTC and ETH Futures for Non-US Institutional Clients as SEC Crackdown Continues

The Coinbase International Exchange will provide institutional clients outside of the US with BTC and ETH contracts and up to 5x in leverage. Crypto exchange Coinbase has launched an international exchange to offer its teeming institutional clients an expanded portfolio of crypto services. According to the company, the new Coinbase International Exchange lists contracts for Bitcoin (BTC) and Ether (ETH) perpetual futures. In an official announcement, Coinbase said it received a regulatory license from the Bermuda Monetary Authority (BMA). The company said Coinbase International Exchange’s perpetual futures trading is available in eligible…

Lawsuit Against Coinbase Alleges Crypto Exchange Illegally Stored Customer’s Fingerprints and Facial Scans

boss

A newly filed class action lawsuit against Coinbase alleges that the top US crypto exchange illegally stored platform users’ fingerprint and facial scans. The lawsuit, which was filed in California District Court by plaintiff Michael Massel, an Illinois resident who opened a Coinbase account five years ago, alleges that the platform violated the state’s Biometric Information Privacy Act (BIPA). According to the lawsuit, Coinbase requires customers to provide fingerprint and facial scans along with a state-issued ID as part of its authentication process to use its services But the lawsuit…

Coinbase stock will be ‘weighed down’ until US rules are clear: Citi

boss

Crypto exchange Coinbase’s stock price will continue to be “weighed down” until regulators establish the legal “rules of the road” in the United States, according to investment analysts from Citi. As per reports on May 1, the investment bank downgraded shares of the crypto exchange from “Buy” to “Neutral” and lowered its price target — citing “too many unknowns” as the company battles it out with regulators. Screenshot of the analyst note from Citi. Source: Twitter “Until the regulatory ‘rules of the road’ are better established in the U.S., the…

Insider trading lawsuit filed against Coinbase executives and board members

A lawsuit filed in a state court in Delaware alleges that Coinbase’s top executives enriched themselves by $1.09 billion by not disclosing negative information about the company before listing its shares in April 2021. Defendants in the lawsuit include CEO Brian Armstrong and prominent venture capitalists. Millions of dollars in profit On May 1, an investor in Coinbase stock, Adam Grabski, filed a lawsuit on behalf of all shareholders, naming Coinbase CEO Brian Armstrong, his management team, and prominent investors Marc Andreessen and Fred Wilson as defendants.  Fascinating lawsuit discusses…

Coinbase Launches International Exchange for Bitcoin and Ether Perpetual Futures – Bitcoin News

boss

Coinbase, the San Francisco-based cryptocurrency exchange, recently announced the launch of a new service called Coinbase International Exchange. The new platform will enable institutional users outside of the United States to trade bitcoin and ethereum perpetual futures. The company stated in a tweet that the service will begin by offering perpetual futures settled in USDC with up to 5x leverage to institutional clients in eligible jurisdictions. Coinbase Reveals Bitcoin and Ethereum Perpetual Futures Settled in USDC With up to 5x Leverage The launch of Coinbase International Exchange follows the company’s…

Coinbase Grew Quickly by Working With U.S. Regulators. Will It Expand Even More by Disregarding the SEC?

But the new vertical is also a sign of the exchange’s increasingly global perspective. Although Coinbase has operated across Europe and parts of Asia, Africa and Latin America for years, it has recently become more vocal about building internationally. In an April blog post, the exchange said it has begun talking with financial regulators in Abu Dhabi (which is building a crypto/fintech tech sandbox) while Armstrong, following a conversation with the U.K.’s Economic Secretary and City Minister, Andrew Griffith, said the country is “moving fast on sensible crypto regulation.” Source

Coinbase officers, board members face suit over alleged insider trading during listing

boss

A Coinbase shareholder has filed a stockholder derivative complaint against some of the company’s executives and board members, claiming they profited from inside information during the company’s public listing. CEO Brian Armstrong and well-known venture capitalists are among the defendants. A stockholder derivative complaint is a suit filed against a company on behalf of its stockholders. Coinbase shareholder Adam Grabski filed the suit in the Delaware Court of Chancery on May 1. Grabski bought Coinbase shares on the first day of the crypto exchange’s public listing. According to a redacted…

Coinbase Launches International Crypto Derivatives Exchange

boss

Coinbase has launched a global cryptocurrency derivatives exchange days after disclosing that it was going offshore with a Bermuda license. The US-based digital asset exchange said the new platform is only open to only eligible, non-US institutional traders. The new platform on Tuesday listed Bitcoin (BTC) and Ether (ETH) perpetual futures contracts, Coinbase said in a blog post, adding that the platform currently only offers 5x leverage, with all trades settled in stablecoin USD Coin (USD). It’s official! Coinbase International Exchange is here. Institutional traders in eligible non-US jurisdictions now…