Coinbase

Coinbase Purchases One River Digital Asset Management

Coinbase acquired One River Digital Asset Management (an investment manager that provides institutional clients with exposure to cryptocurrencies) without disclosing the terms and the sum of the agreement. The deal comes a few weeks after the two entities rolled out a separately managed account (SMA) platform for wealth management firms. Greg Tusar – Coinbase’s head...
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COIN Spikes 10% Following Crypto435 Campaign Announcement

The price of Coinbase’s shares headed north shortly after the company revealed it will launch a nationwide pro-cryptocurrency campaign called Crypto435. COIN jumped by 10% during yesterday’s trading session, tapping a multi-week high above $65. The leading US-based exchange – Coinbase – disclosed on February 28 that the main goal of its policy will be...
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Coinbase Launches Nationwide Pro Crypto Policy Campaign

America’s largest cryptocurrency exchange is pulling out all the stops to ensure U.S. policymakers get things right with how they treat the crypto industry. The company has announced Crypto435 – a grassroots initiative to expand pro-crypto advocacy to citizens across all 435 Congressional Districts. Coinbase’s Advocacy Mission As tweeted by Coinbase on Tuesday, the initiative...
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Voyager Begins Selling Crypto Assets on Coinbase

Ever since Voyager Digital went bankrupt in July of 2022, the company has explored various ways of getting back on its feet. First, there was a deal with FTX, which won the bid for its assets shortly before imploding, nullifying that agreement. The FTX Group would, in fact, go on to sue Voyager over a...
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20% of Surveyed Americans Own Crypto Despite Bear Market: Coinbase

The cryptocurrency exchange Coinbase estimated in its latest study that every fifth American has already hopped on the cryptocurrency bandwagon.  There are more HODLers among youngsters and people of color. Crypto Can Update the Financial System Coinbase surveyed over 2,000 American adults to determine their thoughts on the current global financial network and check their...
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Coinbase Suspends BUSD Trading for Failing to Meet Listing Standards

Coinbase – the largest crypto exchange in the United States – announced that it is halting BUSD trading one week after the stablecoin’s issuer ceased minting new units of the token.  According to a tweet from Coinbase on Monday, the exchange will suspend trading for the token across Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase...
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Coinbase’s In-House Blockchain Launch Followed By Impersonation Tokens

Coinbase launched its own Layer-2 blockchain yesterday, built in collaboration with Optimism in its OP stack. The new Layer-2 blockchain, named Base, will host many of Coinbase’s on-chain products and offer EVMs at low costs to developers. Piggybacking on Recent News Unfortunately, opportunistic bad actors are once again trying to make a quick buck off...
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COIN Briefly Pumps After Better Than Expected Q4 Earnings Report

Crypto exchange Coinbase reported net revenue of $605 million in Q4 2022, according to its latest earnings report published after the bell on Tuesday. Since its release, COIN shares briefly jumped 3% to $64 before falling back to $62 in after-hours trading.  Coinbase Survives the Bear The exchange’s latest numbers present a 5% boost compared...
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Hong Kong’s Crypto Trading Launch Makes Coinbase CEO Question the US Position    

Hong Kong’s position as an upcoming hub of crypto businesses is being increasingly noticed and discussed in the relevant circles. In a tweet, Coinbase CEO Brian Armstrong referred to the city-state to stress that the United States may lose its position as the financial hub of the world for lacking crypto regulations. Armstrong Calls for...
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Coinbase Already in Line With SEC Proposal, Argues Company CLO

Yesterday, the SEC proposed new rules for crypto companies acting as qualified custodians for institutional funds. The push for this change in legislation is due to the recent failures of crypto platforms to safeguard users’ assets from both cyberattacks and bankruptcy. The SEC argues that the reckless financial behavior exhibited by FTX, Celsius, and the...
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Cathie Wood’s Ark Invest Buys $9.2M Worth of Coinbase’s COIN Amid Price Drops

Cathie Wood, Founder and CEO of Ark Invest, continues to be bullish on Coinbase, whose share price is down by nearly 85% from its all-time high of $348.98 on November 12, 2021.   Making the third investment in two months and fourth since November, Ark Invest acquired $9.2 million worth of COIN shares on Friday, media...
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Coinbase Claims its Staking Products Are Not Securities as COIN Slumps 22% Weekly

All eyes in the crypto community have been on the SEC and its decision to pursue certain crypto staking offerings in the States. After Kraken, many believe Coinbase will be next to have to settle with the regulator, which is why the largest US-based exchange decided to address the matter. Our Products Are Not Securities:...
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Coinbase’s Stock Shreds 14% Following SEC Crackdown on Crypto Staking

The stock of leading U.S. cryptocurrency exchange Coinbase (COIN) has suffered its biggest daily loss in seven months after the country’s Securities and Exchange Commission (SEC) forced rival exchange Kraken to shut down its crypto staking services in a $30 million settlement deal. The decline in COIN’s value can be attributed to the fact that...
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Coinbase CEO Concerned About SEC Ambitions to Crackdown on Crypto Staking

On Feb. 9, Brian Armstrong cautioned that they were hearing rumors that the SEC would like to “get rid of crypto staking in the U.S. for retail customers.” He said he hopes that is not the case as “I believe it would be a terrible path for the U.S. if that was allowed to happen.”...
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After a Devastating 2022: Crypto Firms Will Not Advertise at Super Bowl (Report)

Cryptocurrency exchanges will supposedly not promote their products and services during Super Bowl LVII this Sunday (February 12). The bear market in 2022 shook the industry to its core, wiping out close to $2 trillion and causing multiple bankruptcies. One of the most active advertisers at last year’s Super Bowl was FTX, whose demise in...
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Lawyers Challenge SEC’s Attempt at Labelling 9 Tokens as Securities

As the Securities and Exchange Commission (SEC) continues vying for regulatory presence over the crypto market, a high-profile industry lawsuit looks poised to answer more questions about how far its authority should reach.  Lawyers defending Ishan Wahi – a former Coinbase manager accused of insider trading – are challenging the SEC’s claim that a list...
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Former Coinbase Exec Pleads Guilty to Insider Trading: Report

Ishan Wahi, a former product manager at the largest US-based crypto exchange, pleaded guilty to two counts of conspiracy to commit wire fraud. His brother did the same a few months back, receiving a 10-month prison sentence. CryptoPotato reported in July 2022 when the US Department of Justice charged Ishan Wahi, his brother Nikhil, and...
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Despite Recent Market Revival, These Crypto Companies Dismissed More Employees

The prolonged bear market reduced the interest in cryptocurrencies and hampered the operations of numerous industry players. Some leading exchanges, including Coinbase, Crypto.com, Bybit, and Kraken, laid off a chunk of their workforce to cope with the challenging times.  The trend seems to be similar at the start of the new year despite the recent...
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Coinbase Fined $3.6 Million by the Dutch Central Bank (Report)

The central bank of the Netherlands – De Nederlandsche Bank (DNB) – reportedly fines Coinbase 3.3 million euros ($3.6 million) for failing to comply with local rules. The exchange recently announced its second wave of layoffs and said it will stop operating on the Japanese market. As reported by Reuters, the central banking institution of the...
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Coinbase Expands its Partnership With German Soccer Club Borussia Dortmund (Report)

The US-based cryptocurrency exchange – Coinbase – reportedly doubled down on its agreement with one of the most successful German soccer teams – Borussia Dortmund (BVB). The deal, which turned the platform into a Premium Partner of the Bundesliga club, will last until the end of June. Making the Collaboration Public Coinbase started its partnership...
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Coinbase to Exit Japanese Market After Kraken

Crypto exchange giant Coinbase becomes the latest firm to stop operations in Japan, citing unfavorable market conditions.  The US-based company has conducted a series of job cuts in the last seven months, with the latest downsizing happening earlier in January 2023.  In a blog post on Wednesday (January 18, 2023), Coinbase announced that users in...
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No Respite From Layoffs: Crypto.com Cuts 20% Workforce

Crypto.com has been hit by yet another wave of layoffs. The co-founder and CEO of the crypto exchange, Kris Marszalek announced the decision to reduce the headcount by 20% citing ongoing economic headwinds and unforeseeable industry events. The exec revealed all affected employees have already been notified and added that the reductions were not related...
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Brother of Former Coinbase Manager Sentenced to 10 Months in Prison

Nikhil Wahi – brother to former Coinbase product manager Ishan Wahi – has been sentenced to 10 months in prison following his guilty plea to leveraging his familial connection for insider trading of crypto tokens.  The accomplice will be forced to return the $892,000 he generated in profits from those trades.  “A Terrible Mistake” In...
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Coinbase Dismisses 950 People Citing Current Economic Climate

The US-based cryptocurrency exchange Coinbase will reduce its workforce by around 950 people. The firm had previously laid off 18% of its employees due to adverse macroeconomic conditions. Brian Armstrong – CEO of Coinbase – said they had taken the “difficult decision” to dismiss 950 of its team members as part of the company’s long-term...
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Coinbase Stocks Rise 12% Following $100M Settlement With US Regulators

Cryptocurrency exchange Coinbase reached an agreement to pay a $50 million penalty to New York state’s Department of Financial Services to settle accusations that it enabled customers to open accounts without conducting necessary background checks. The regulator stated that Coinbase violated the New York Banking Law and the New York State Department of Financial Services...
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Coinbase Customers Refuse to Share Account Info in Lawsuit

Coinbase customers, who had previously sued the crypto exchange over unauthorized crypto transfers, have continued to hold back their account information in a bid to block efforts to move their case to arbitration. A renewed emergency motion filed in federal court revealed that the plaintiffs agreed to provide the necessary information encompassing emails, usernames, and...
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Coinbase Predicts Extended Crypto Winter for Altcoins

In a market outlook report published on Dec. 20, Coinbase Institutional stated that the crypto winter will extend well into 2023, especially for altcoins. Company analysts expect digital asset selection will transition towards “higher quality names” like Bitcoin and Ethereum. This is based on several factors, such as sustainable tokenomics, the maturity of respective ecosystems,...
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Coinbase CEO Calls for Regulation of Centralized Crypto Entities

Coinbase founder and CEO Brian Armstrong, for one, believes that ideal crypto regulations should start with centralized actors since most of the damage to the consumers has been done by these entities. In a recently released “realistic blueprint,” Armstrong highlighted the need to pursue legislation early instead of waiting for something comprehensive and perfect. Regulations...
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Coinbase Will Return Your ERC-20 Tokens Sent by Accident

Coinbase – the largest crypto exchange in the United States – has launched an asset recovery tool that will let users recover over 4000 unsupported ERC-20 tokens sent to the exchange by mistake.  In return for a small fee, the company will send non-supported assets back to user addresses.  According to a blog post from...
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Cathie Wood Buys Nearly $24 Million Worth of Coinbase and Tesla Shares

The Founder and CEO of Ark Invest – Cathie Wood – purchased 297,000 shares of Coinbase for approximately $11.9 million.  She also bought 75,000 shares of Tesla Inc. Despite the unstable condition of the crypto sector and the increasing negativity towards centralized exchanges, Wood spent almost $12 million to acquire 297,000 COIN shares. The shares...
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