“Rest assured that Coinbase is committed to the U.S., but countries around the world are increasingly moving forward with responsible crypto-forward regulatory frameworks to strategically position themselves as crypto hubs,” Coinbase said in a blog post. “We would like to see the US take a similar approach instead of regulation by enforcement which has led to a disappointing trend for crypto development in the U.S.” Source
As the cryptocurrency industry faces regulatory challenges in the United States, public crypto exchange Coinbase is moving forward with a global derivatives platform. On May 2, Coinbase announced the launch of the Coinbase International Exchange (CIE), a new institutional platform designed for crypto derivatives trading. The CIE will start trading by listing Bitcoin (BTC) and Ether (ETH) perpetual futures later this week. All trading on the CIE will be settled in Coinbase-backed stablecoin USD Coin (USDC), requiring no fiat on-ramps. Coinbase stressed that direct access trading on CIE is available to…
The bank slashed its price target for the crypto exchange to $65 from $80. Source
ARK Invest, the investment management firm founded by legendary investor Cathie Wood, has celebrated International Workers’ Day by buying shares of the cryptocurrency exchange Coinbase. On May 1, ARK purchased 129,604 Coinbase (COIN) shares for its ARK Innovation exchange-traded fund (ARKK), according to an investor notification seen by Cointelegraph. The investment company also bought 23,456 COIN stocks for the ARK Next Generation Internet ETF (ARKW) and 15,809 Coinbase shares for the Fintech Innovation ETF (ARKF). The entire purchase amounted to 168,869 Coinbase stocks, worth around $8.5 million. The acquisition makes…
ARK Invest, the investment management firm founded by legendary investor Cathie Wood, has celebrated International Workers’ Day by buying shares of cryptocurrency exchange Coinbase. On May 1, ARK purchased 129,604 Coinbase shares for its ARK Innovation exchange-traded fund (ETF), according to an investor notification seen by Cointelegraph. The investment company also bought 23,456 Coinbase shares for its ARK Next Generation Internet ETF and 15,809 for its Fintech Innovation ETF. The entire purchase amounted to 168,869 Coinbase shares, worth around $8.5 million. The acquisition makes up nearly 50% of the total…
Coinbase violated biometric privacy laws in Illinois through its collection and storage of customer fingerprints and facial templates, a proposed class-action lawsuit alleges. A May 1 filing in a California District Court by a Coinbase user claimed the exchange’s requirement that a customer uploads pictures of a valid ID and a self-portrait in order for the firm to conduct Know Your Customer (KYC) checks is violating certain provisions of Illinois’ Biometric Information Privacy Act (BIPA). The lawsuit argues BIPA required Coinbase to gain permission from users when collecting their biometrics.…
A Coinbase executive claims to have discovered a “jailbreak” for the artificial intelligence tool ChatGPT that allows it to calculate the probability of bizarre crypto price scenarios. The crypto exchange’s head of business operations Conor Grogan, an avid ChatGPT user, shared a screenshot of the results in an April 30 tweet — showing that ChatGPT states there be a 15% chance that Bitcoin (BTC) will “fade to irrelevancy” with prices falling over 99.99% by 2035. Meanwhile, the chatbot assigned a 20% chance of Ether (ETH) becoming irrelevant and approaching near-zero price…
Coinbase, a San Francisco-based cryptocurrency exchange, has launched a non-fungible token (NFT) campaign dubbed “Stand With Crypto” to empower the community and promote implementation of favorable policies. The launch comes after Coinbase sued the United States Securities and Exchange Commission (SEC) earlier this week requesting clarity about the agency’s position on crypto legislation. Coinbase blue shield NFT The campaign, launched on April 25, features a blue shield on Coinbase’s commemorative NFT. It represents the group’s effort to safeguard and advance the potential of cryptocurrency. Coinbase urged campaign participants to add…
Analysts at H.C. Wainwright have said that the crypto winter of 2022 ceases to have any bearing on related stocks. H.C. Wainwright believes that the crypto winter is over and has called for a buy on Coinbase (NASDAQ: COIN) stock. According to the New York-based investment bank, Coinbase stands to benefit from global digital asset economy growth sooner rather than later. H.C. Wainwright released a statement on Wednesday that underscored its bullishness on the prices of crypto assets. The investment banking platform wrote: “Crypto asset prices have rallied 45% YTD, supported by a 67%…
In its response, Coinbase clearly mentioned the exchange has not engaged in any activity that violates federal securities laws. It also slammed the SEC for refusing to engage in a meaningful dialogue on crypto regulations. On Thursday, April 27, crypto exchange Coinbase offered a fiery response to last month’s Wells Notice issued by the US Securities and Exchange Commission (SEC). Coinbase’s chief legal officer Paul Grewal clearly told the federal regulator that any kind of enforcement action against the exchange would lead to major “problematic risks” for the SEC and…