Coinbase Financial News

This past year was a pivotal one in terms of the crypto industry’s relationship with regulators and financial markets. U.S. authorities cracked down on major players and financial titans threw their hats in the ring as mainstream finance took steps to accept, if not embrace, crypto.

Coinbase Global secured registration with the French markets regulator on Thursday, as it seeks to expand globally under its Go Deep, Go Broad strategy. France's AMF watchdog has given Coinbase virtual asset service provider (VASP) approval, a green light for the company to operate digital currency services. Registration will allow Coinbase to offer its full suite of retail, institutional and ecosystem products and services to users in the country. «Achieving VASP status in France allows us to continue to grow globally in the best possible way, onboarding the next one billion people into crypto, while ensuring consumers' assets are secure and that compliance is prioritized,» said Daniel Seifert, vice president and regional managing director, EMEA, at Coinbase. Coinbase had also said earlier this year it was in discussions with the Financial Services Regulatory Authority in the Abu Dhabi Global Market over a potential license for a regulated exchange.

Bitcoin, the pioneering cryptocurrency, has surged to $44,050, marking over 1.4% increase and signaling a buoyant phase for the crypto industry. This upswing coincides with Coinbase’s strategic expansion, as the company secures a crypto license in France, indicating a broader global outreach. Meanwhile, tech maverick Elon Musk has announced plans for ‘X’ to delve into financial services by mid-2024, potentially reshaping the fintech landscape.

Coinbase has received regulatory approval from France’s Financial Markets Authority to conduct business as a digital asset trading venue.

In this article

Cryptocurrency is a hot topic of conversation, especially during the holidays. This is becoming the case even more so as Bitcoin gains traction. A recent report from Bitcoin financial services firm Unchained found that one in four Americans already own Bitcoin. Additional findings from Unchained show that 95 percent of the 400 investors surveyed in the U.S. would consider buying Bitcoin in 2024.

More than 40 countries have made significant strides in advancing crypto-focused regulations and legislation this year, indicating a growing global trend towards wider cryptocurrency adoption.

Cathie Wood-led Ark Invest sold another 34,261 Coinbase shares worth $5.5 million on Tuesday as the price of the largest US-based crypto exchange’s shares topped $160, witnessing over 107% rise since early November.

Coinbase Wallet, a prominent player in the cryptocurrency exchange sector, has rolled out a game-changing update that simplifies and accelerates international money transfers. This new feature, part of Coinbase’s strategy to make cryptocurrency transactions more accessible, allows users to send money via links shared through various messaging and social media apps​​​​.

The Coinbase (NASDAQ:COIN) price target was lifted to $200 from $145 at Compass Point on Tuesday, with the firm maintaining a Buy rating on the stock.

The major US-based crypto exchange Coinbase has announced the availability of USD transfers for its retail customers in Singapore, according to an announcement.

Cathie Wood led ARK Invest fund sold around 809, 441 Grayscale Bitcoin Trust (GBTC) shares worth $27.6 million from its Next Generation Internet (ARKW) exchange-traded fund (ETF) on Monday, the biggest sale in more than a year, Ark Invest Daily reported.

Fairshake has raised $78 million to support “pro-crypto” candidates in the forthcoming 2024 US elections.

Fairshakes has raised $78 million to fund pro-crypto legislators and support leaders who support blockchain innovation in the United States.

TLDR 

As the crypto market enters another week of trading, Bitcoin (BTC) has seen a slight decline to $41,978, dropping by nearly 50% on Sunday. This move coincides with a significant amount of Bitcoin, worth approximately $860 million, being transferred to exchanges, which could be indicative of a potential major sell-off on the horizon.

Coinbase filed the petition last July, asking that the SEC "propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods". In a 3-2 vote, the commission has denied the petition, stating that it disagrees that the current regime is "unworkable" for crypto securities. SEC chair Gary Gensler says: "The existing securities regime appropriately governs crypto asset securities." Since Coinbase filed its petition, the firm has been sued by the SEC for operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. Republican Commissioners Hester Peirce and Mark Uyeda voted to back the Coinbase petition, saying in a joint statement that it "raises issues presented by new technologies and other innovation".

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This Cyber Monday, enjoy up to 60% off, plus an extra 10% off a 2-year subscription with the code research23 , reserved for the first 500 quick subscribers. To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.

Solana-based meme coin BONK has gained more than 45% in the past 24 hours following the announcement of its listing on the prominent exchange Coinbase.

Brian Armstrong, the CEO of Coinbase crypto exchange, has explained that the wallet modifications, launched last week, focus on payments.

Cathie Wood-led Ark Invest sold over $12.8 million worth of Grayscale Bitcoin Trust (GBTC) shares on Monday amid a broader market sell-off, Ark Invest Daily reported.