Tag: Coinbase

AI Crypto’s Like Render, WorldCoin Are ‘Overvalued’: Coinbase

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In their report, “Crypto’s AI Mirage,” Coinbase Research has issued a nuanced examination of the intersection between artificial intelligence (AI) and crypto, revealing a landscape fraught with overvaluation and speculative fervor. David Han, an Institutional Research Analyst at Coinbase, spearheads this analysis, providing a critical lens through which the future of AI crypto tokens is scrutinized. AI Crypto Tokens Lack ‘Persistent Demand Drivers’ At the heart of the report is the assertion that the crypto-AI domain, despite its rapid expansion and the enthrallment it enjoys from investors and the public…

Nigeria Is Updating Guidance for Crypto Firms After Binance, Coinbase Block: Report

The report, which cites documents from the Securities and Exchange Commission (SEC) of Nigeria, follows headlines from February that Nigeria’s government had blocked local access to several crypto platforms, including Binance, Kraken and Coinbase. Coinbase said at the time that it remained accessible and did not immediately respond to a CoinDesk request for comment on the current status. Source

Coinbase advocates for reevaluation of crypto as securities in legal clash with SEC

Coinbase’s legal team has approached U.S. District Judge Katherine Failla with a request to overlook a prior judgment that defined secondary sales of crypto assets as securities transactions. The plea, part of Coinbase’s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), was highlighted in a letter dated March 5. Michael Savitt, representing Coinbase, contended that the SEC’s prior classification of crypto sales in the secondary market as securities contracts, particularly noted in the SEC vs Wahi case, lacks substantial grounding since it was never thoroughly vetted in…

Ark Invest sells $31m in Coinbase, buys Meta amid Bitcoin rally

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Ark Invest, led by Cathie Wood, has sold nearly $31 million worth of Coinbase shares as Bitcoin approached a new all-time high, nearly reaching the $69,000 mark on March 4. The investment manager executed the sale of 134,749 Coinbase shares across three of its exchange-traded funds (ETFs): ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF), with the transaction valued at $30.88 million. Following the sale, Coinbase shares saw a significant increase, rising 11.4% to $229.15 in regular trading on the day and…

Coinbase suffers another outage as Bitcoin breaks $67k

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Coinbase users around the globe reported $0 crypto balances once again as Bitcoin rallied over $67,000 for the first time in over two years.  As Bitcoin (BTC) set a 28-month high on Mar. 4, crypto exchange Coinbase suffered its second outage amid euphoria in the cryptocurrency market in less than a week. The crypto fear and greed index sat at 82, indicating strong interest from users and traders.  Crypto fear and greed index | Source: alternative.me During the first Coinbase outage of the year on Feb. 28, CEO Brian Armstrong…

U.S. court decides against former Coinbase employee, calls some crypto assets securities

A federal judge in a landmark ruling supports the Securities and Exchange Commission’s (SEC) position that certain crypto assets are securities even when traded on secondary markets. A March 1 judgment in the SEC case against a former Coinbase staffer for insider trading has added another dimension to the ongoing debate about how to categorize crypto assets. The SEC’s case introduced a unique complexity to the already gloomy crypto regulatory landscape in the U.S., as it involves individuals accused of insider trading rather than crypto firms themselves. Ishan Wahi, a…