Tag: Exchange

Top US Crypto Exchange Coinbase Asks Court To Toss SEC Lawsuit, Accuses the Regulator of Violating Due Process

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Coinbase is asking a court to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the top US-based crypto exchange. In a new thread, Paul Grewal, Coinbase’s chief legal officer, says that the crypto firm is seeking to discard the lawsuit because they believe the regulatory agency is violating due process. According to Grewal, the SEC is ignoring a decades-long precedent established by the Supreme Court. “Today, Coinbase filed our brief asking the Court to dismiss the SEC’s case against us. Our core argument is simple – we do…

Coinbase earnings show the company is now much more than just an exchange

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Coinbase, a leading U.S. cryptocurrency exchange, shared its 2Q results on August 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.  Coinbase key financial metrics, USD million. Source: Coinbase However, the exchange took a hit with a $97 million net loss, worse than its previous quarter, and saw a 32% drop in its adjusted EBITDA to $194 million in 2Q. Services and USDC stablecoin impact growth One downside…

Bitfinex Heist: Ilya Lichtenstein Admits He Was Behind Colossal 2016 Crypto Exchange Hack

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The notorious “Crypto Couple” Ilya Lichtenstein and Heather Morgan pled guilty on Thursday to money laundering conspiracies relating to the massive 2016 hack on the crypto exchange Bitfinex. Lichtenstein also copped to executing the hack himself, clearing up years of mystery regarding how the couple first came into possession of the stolen Bitcoin (BTC) from Bitfinex. The U.S. Department of Justice (DOJ) says Lichtenstein used “a number of advanced hacking tools and techniques” to crack Bitfinex’s network and fraudulently authorize more than 2,000 transactions. In total, he transferred 119,754 BTC,…

Crypto Exchange Upbit Moves Up to No. 2 in Spot Trading Volume

Coinbase, the biggest publicly traded U.S. crypto exchange, announced that Base, its layer-2 blockchain built with Optimism’s OP Stack, will open to the public next Wednesday. Base went live for developers in July so that they could test applications on the network. Users are now able to transfer their ether to Base, Coinbase wrote in a blog post. The Base announcement came ahead of Coinbase releasing its second-quarter results. Its revenue topped analysts’ expectations, and its loss was narrower than expected. Source

Actor Adam DeVine appears in new Bitget exchange ad

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American actor and comedian Adam DeVine has appeared in a new paid advertisement created by crypto exchange Bitget. “Now it’s time to make our wildest dreams come true. Trade crypto from the comfort of your race car bed at 2:00 am. I don’t give a care. Business hours? Thing of the past,” says DeVine in a newly released clip, titled “Crypto and Chicken Nuggets.” Actor Adam DeVine in the new Bitget advertisement. Source: Bitget Throughout the video, the actor can be seen holding a smartphone and making jokes regarding the…

Curve Offers Hackers 10% Bounty in Exchange for Return of Crypto

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“You will have no risk of us pursuing this further, no risk of law enforcement issues, etc,” Curve, Metronome and Alchemix wrote in an on-chain message sent to a hacker’s Ethereum address. The trio gave a deadline of August 6 at 0800 UTC, at which point their bounty will become a vigilante payout to whomever provides information that leads to the hacker’s arrest and conviction. Source