“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
Coinbase is expanding its services in Brazil through partnerships with local services, the company announced March 21. Round-the-clock customer support in Portuguese and easier onboarding are among its upgrades. Coinbase has inked deals with Brazilian payment solutions provider Ebanx and Pix, the instant payment app operated by the Central Bank of Brazil. The new partnerships will make it easier to purchase crypto using the Brazilian real, as well as enable deposits and withdrawals from Coinbase accounts in real. Brazilians will also have easier access to opening a Coinbase account. Coinbase has…
In Tuesday’s case, Coinbase Inc. v. Bielski, customer Abraham Bielski had initially accused Coinbase of lax protections when a scammer stole $31,000 from his account. A court found that he could go ahead and pursue that complaint in the courts, which Coinbase appealed. When the matter kept moving in court, the company argued its appeal should have stopped it. Source ArbitrationArguesCaseCoinbaseCourtCryptoDebutSupremeU.S CryptoX Portal
United States-based crypto exchange Coinbase decided to communicate proactively on crypto staking, which had recently attracted regulators’ attention. The company’s petition to the Securities and Exchange Commission (SEC) explains why staking can’t be universally labeled as securities. The “Petition for Rulemaking” was published by Coinbase on March 20. In an 18-page document, the firm focused on how securities law treats services related to validating proof-of-stake protocols. It was written in response to the SEC’s February crackdown on Kraken’s staking program — the SEC charged the exchange with “failing to register…
More than a week after New York regulators closed the crypto-friendly Signature Bank, Coinbase has reportedly stopped support for the institution’s Signet payment platform. According to a March 20 report from the Wall Street Journal, Coinbase users won’t be able to use Signet to send funds outside of banking hours until further notice. The crypto exchange was reportedly looking for another payment network provider and waiting on the outcome of the situation with Signature. The crypto-friendly bank was the third domino to fall following the failure of Silvergate Bank on…
More people now appreciate the fundamental value proposition of having an alternative to the traditional financial system, the report said. Source
Former Coinbase chief technology officer Balaji Srinivasan has made a millionaire bet on Bitcoin’s (BTC) price over the next 90 days, predicting the cryptocurrency price will reach $1 million by June 17. The wager was initiated on March 17, when pseudonymous Twitter user James Medlock offered to bet anyone $1 million that the United States would not experience hyperinflation. A few hours later, the former Coinbase CTO accepted the bet. Sir, I believe we have ourselves a deal https://t.co/9JYaLNo9Eq — James Medlock (@jdcmedlock) March 18, 2023 Under the proposed terms,…