D.A. Davidson analyst Chris Brendler downgraded Coinbase (COIN) to neutral from buy after a more than doubling in the stock in 2023 sent the price surging past his $55 price target. Source
“Anchorage Digital Bank, the first and only fully operational OCC-chartered digital asset bank, is unequivocally a ‘qualified custodian’,” said Georgia Quinn, the company’s general counsel, in a statement. “While Anchorage Digital would be largely unaffected by the proposed rule, we plan to work with all stakeholders to ensure any transition results in minimal disruption to the digital asset ecosystem.” Source
Top US crypto exchange Coinbase has rolled out support for a brand-new, Ethereum (ETH)-based non-fungible token (NFT) marketplace project. Blur (BLUR) went live on the exchange on Tuesday, the same day as the new token’s airdrop. Blur launched its NFT marketplace four months ago and has processed over $1.4 billion in gross merchandise volume. Users who traded NFTs on Blur or created collections that traded on the exchange have 60 days to claim their BLUR tokens from the airdrop, according to the project’s Twitter account. BLUR is trading around $0.82…
Coinbase CEO Brian Armstrong says that the staking services offered by the US crypto exchange are not securities. Hot on the heels of the U.S. Securities and Exchange Commission (SEC) shutting down the staking service of rival crypto exchange Kraken, Armstrong says that Coinbase will mount a legal defense of its staking service if the need arises. “Coinbase’s staking services are not securities. We will happily defend this in court if needed.” Last week, following the SEC’s actions against Kraken, Coinbase’s chief legal officer Paul Grewal argued that existing US…
Cathie Wood’s investment management firm Ark Invest continues stacking Coinbase (COIN) stock amid the latest cryptocurrency market decline. On Feb. 10 and Feb. 13, Ark made its first COIN purchases since mid-January, adding significant exposure to the United States’ largest crypto exchange. Last Friday, Ark bought 139,105 COIN shares for the ARK Innovation exchange-traded fund (ARKK), according to an investor notification seen by Cointelegraph. On the same day, the asset manager also purchased 23,220 COIN shares for allocation by another fund, ARK Next Generation Internet ETF (ARKW). The asset manager…
The crypto lobbying group is arguing that the SEC is engaging in “absentee enforcement” and that the creators of the nine tokens, that are at the centre of the insider trading case, are not linked to the case. Source
Brian Armstrong, CEO of United States-based cryptocurrency firm Coinbase, is looking for lawmakers and regulators to discuss regulatory clarity in the crypto space. In a Feb. 13 tweet, Armstrong put a call out for anyone with access to the Dirksen Senate Office in Washington, D.C. to meet him at the building’s snack bar and “chat about crypto.” According to the Coinbase CEO, he was looking for “low sugar options” amid the selection of soft serve ice cream and toppings. “I’m in Washington D.C. and had a meeting canceled,” said Armstrong.…
Coinbase, one of the biggest cryptocurrency exchanges in the U.S., has stated that the staking services offered on its platform do not constitute securities. The statements, made in the wake of the $30 million settlement that Kraken, another U.S.-based crypto exchange, completed with the U.S. Securities and Exchange Commission (SEC), also criticize the institution’s approach to the issue. Coinbase Defends Its Staking-as-a-Service Program Coinbase, one of the leading U.S.-based cryptocurrency exchanges, has published a blog post differentiating its staking-as-a-service program from others in the market, and clarifying that, for the…
COIN is down 20% during the last week after a record-breaking rally in January where it rose nearly 95%. Source
Crypto exchange Coinbase’s executives are standing up for its crypto staking services, claiming it cannot be classified as a security, and threatening to bring the matter to the courts in the United States. Brian Armstrong, Coinbase CEO, posted on Twitter that the company will “defend this in court if needed.” The move follows the agreement reached by crypto exchange Kraken with the Securities and Exchange Commission (SEC) on Feb. 10 to stop offering staking services or programs to clients in the country. According to the SEC, Kraken failed “to register…