“The silver lining, to the extent there is one of this type of development, is that it will force the establishment of case law that will inform how crypto is regulated and it will set some rules of the road for crypto to comply with,” Quick said. Source advocateCoinbaseCryptoindustryLiningSECsSeesSilverWarning CryptoX Portal
Algorand Foundation CEO Stacy Waden took to Twitter to confirm rumors about Coinbase’s decision to discontinue Algorand (ALGO) staking rewards for retail customers. Coinbase and Algorand, however, cite different reasons for the move. According to Waden’s tweet, Coinbase informed Algorand about the sudden termination of rewards for ALGO tokens on March 22, as the crypto exchange evaluates its portfolio of products and services following a Wells Notice issued by the United States Securities and Exchange Commission (SEC) the same day. Hi #algofam, woke up this a.m, like many of you,…
Crypto exchange Coinbase has tested Openai’s Chatgpt as a token verification tool comparing it with its standard security procedure. In over half of the cases, the AI platform produced the same results as the manual review, but it also failed to recognize some high-risk assets. Chatgpt Approves 5 High-Risk Tokens, Coinbase May Use It for Secondary Control Digital asset exchange Coinbase has tried the artificial intelligence (AI) chatbot developed by Openai to conduct automated token reviews. The U.S.-based trading platform said that while Chatgpt was not accurate enough to be…
On Wednesday, the SEC issued Coinbase a Wells notice, which informs businesses that it is planning future enforcement action against them. Coinbase said in a filing with the SEC that it believes any action “would relate to aspects of the company’s spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet.” Source
The U.S. Securities and Exchange Commission (SEC) has sent Coinbase a “Wells notice” about potential violations of securities law. The Nasdaq-listed cryptocurrency exchange noted that, unlike what SEC Chairman Gary Gensler said, the securities regulator “will not let crypto companies ‘come in and register.’” Coinbase CEO Brian Armstrong explained: “A Wells notice typically precedes an enforcement action.” Coinbase Receives a ‘Wells Notice’ From SEC Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Wednesday that it has received a “Wells notice” from the U.S. Securities and Exchange Commission (SEC) “regarding an unspecified portion…
Crypto exchange Coinbase said it received a ‘Wells Notice’ from the United States Securities and Exchange Commission recommending the regulator take enforcement action. In a March 22 blog post, Coinbase said the “legal threat” could potentially target the exchange’s staking program Coinbase Earn, listed digital assets, its wallet, or Coinbase Prime services. A Wells Notice letter typically warns a company that the SEC may follow with an enforcement action, but Coinbase provided no details other than “possible violations of securities laws.” “We asked the SEC specifically to identify which assets…
“If needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets,” said Paul Grewal, Coinbase’s chief legal officer, in a statement. “Until then, it’s business as usual.” Source
Coinbase has acted as a service provider for Algorand, connecting the user and the protocol and passing on rewards earned from staking. According to the exchange’s website, users can still earn staking rewards from the Ethereum, Cosmos, Tezos, Cardano and Solana blockchains. Source
Cathie Wood’s investment management firm ARK Invest is moving to take profits from its Coinbase stash, selling the first batch of Coinbase stock this year. On March 21, ARK sold 160,887 Coinbase shares from its ARK Fintech Innovation exchange-traded fund (ARKF) for $13.5 million, according to an investor notification seen by Cointelegraph. The transaction became ARK’s first sale of Coinbase stock in 2023, following three months of active buying in 2023. The sold amount accounts for 23% of all Coinbase stock acquired by ARK so far in March and about…
CryptoX – Cryptocurrency Analysis and News Portal Before this sale, ARK Invest owned 9.9 million shares of the crypto exchange worth $575 million. Source The post ARK Invest Sells $13.5M Coinbase Shares After Steady Buying Streak appeared first on CryptoX. CryptoX Portal