Tag: Coinbase

Coinbase Stock Falls but Regains Losses after Its Mixed Q4 2022 Earnings Results

Bitcoin price has gained nearly 50 percent YTD, significantly contributing to Coinbase shares rallying over 72 percent since the calendar flipped. Coinbase Global Inc (NASDAQ: COIN) announced its Q4 earnings and full-year 2022 results on February 21 which has affected its stock price. The American cryptocurrency exchange reported fourth-quarter revenue of $605 million, up 5 percent from the previous quarter and beating the consensus estimate of $588 million. During the fourth quarter, Coinbase reported a loss per share of $2.46, against a forecast of about $2.52. Coinbase Stock and Its…

Coinbase CEO Brian Armstrong Says Crypto in ‘Despair Phase’ Amid US Exchange’s $2,625,000,000 Annual Loss

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Crypto exchange Coinbase is struggling as a result of the bear market but the firm’s CEO, Brian Armstrong, says they’re built for the long term. During an earnings call on Wednesday, Armstrong says that the industry is going through one of those difficult periods in the crypto cycle. “The narrative in crypto tends to flip every two years. It’s either irrational exuberance or despair. Neither one is true at any given time, but we’re in one of those despair phases right now.” Coinbase’s fourth quarter and full-year 2022 report to…

Trade group accuses SEC of ‘stealthy’ overreach in Coinbase insider trading case

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The United States Securities and Exchange Commission has again been accused of overstepping its authority and unfairly labeling crypto assets as securities, this time in its insider trading case against ex-Coinbase employees. In an amicus brief filing on Feb. 22, the U.S.-based Chamber of Digital Commerce argued the case should be dismissed as it represented an expansion of the SEC’s “regulation by enforcement” campaign and seeks to characterize secondary market transactions as securities transactions. We have serious concerns about the SEC’s attempt to label these tokens as securities in the context…

Coinbase discloses recent cyberattack targeting employees

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Crypto exchange Coinbase experienced a cybersecurity attack targeting its employees on Feb. 5. The attack came through SMS scams and involved impersonations of IT staff, according to a recent report from the company’s engineering team. No customers’ funds or information were impacted, the firm said. As per the report, on a late Sunday several Coinbase employees received SMS messages requiring them to urgently log in via the link provided to access an important message. Acting in a good faith, one employee followed the exploiter’ instructions: “While the majority ignore this unprompted…

Coinbase Confirms Cybersecurity Attack Targeted at Employees

Coinbase said its Computer Security Incident Response Team (CSIRT) quickly stepped into the situation. Crypto company Coinbase (NASDAQ: COIN) confirmed a cybersecurity attack targeted at its employees. The company said it was briefly compromised by the so-called “0ktapus” hackers who struck many organizations in 2022. Some of the hackers’ victims are Twilio (NYSE: TWLO), IT service management company Cloudflare (NYSE: NET), and online food ordering company (DoorDash). Twilio revealed that the hackers gained access to customer data after deceiving employees into providing their corporate log-in details. DoorDash also linked its…

IEX Exchange Looking to Float Regulated Crypto Outfit with Coinbase

Despite the scare from regulators, many still attest to the fact that the crypto market will play a crucial role in the future of finance. American trading bourse, the IEX Exchange is looking to launch a digital currency trading platform in partnership with publicly traded industry leader, Coinbase Global Inc (NASDAQ: COIN). According to a Fox Business report citing sources close to the discussions, IEX Exchange Chairman Brad Katsuyama has been in talks with Coinbase in order to achieve that primary goal. As noted, the stock exchange has been in…