Coinbase Financial News

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.

Cryptocurrency wallet firm Conio, partly owned by Poste Italiane and Banca Generali, has partnered with Coinbase to give Italian banks and financial institutions access to digital assets.

A group of cryptocurrency-focused stocks have racked up notable price surges in the last year, handily outpacing the growth of the «Magnificent 7,» a collection of widely held leading technology firms.

Bitcoin is here to stay whether big banking executives like Jamie Dimon like it or not, according to Grayscale CEO Michael Sonnhenshein.

Binance, the largest cryptocurrency exchange in the world, is expected to lose its leading position following the guilty plea to US charges and a record $4.3 billion penalty. 

Online brokerage giant Robinhood on Thursday said it's launching a cryptocurrency trading feature in the European Union, pushing further outside the United States as the company looks to unlock growth from international markets.

Cathie Wood’s Ark Invest continues its selling spree of shares of the largest US-based crypto exchange, Coinbase, amid the ongoing crypto rally.

Coinbase Wallet is introducing enhanced features to facilitate seamless, cost-effective, and rapid international money transfers, potentially contributing to increased crypto adoption.

Cathie Wood’s Ark Invest is capitalizing on the recent surge as it offloaded millions of Coinbase and Grayscale Bitcoin Tryst shares when the leading crypto surpassed the $44,000 threshold.

Bitcoin rose on Monday, briefly surpassing $42,000 to reach a 20-month high, in a new surge of momentum fueled by the possibility of U.S. interest rate cuts and traders betting that the U.S. will soon approve exchange-traded spot bitcoin funds. The world's biggest cryptocurrency rose as high as $42,162 on Monday, its highest since April 2022, seemingly casting off the funk that had settled over crypto markets following the collapse of FTX and other crypto-business failures last year. It was up 6.49% at $41,311.26 as of 1605 GMT. Bitcoin's gains lifted the shares of cryptocurrency-related companies, as well as exchange-traded funds (ETFs) listed in the United States. Coinbase jumped 6.5% and Microstrategy gained nearly 6%, while bitcoin miners such as Riot Platforms, Marathon Digital and CleanSpark rose between 8% and 11%. Last week, Microstrategy disclosed it bought an additional $593 million in bitcoin during November.

Web3 developer Thirdweb has disclosed a security vulnerability that has the potential to affect a range of smart contracts within the Web3 ecosystem.

The momentum of cryptocurrency regulation in the United States continues to intensify, with the New York Department of Financial Services (NYDFS) asserting its readiness to call out defaulting businesses.

The cryptocurrency industry has spent a staggering $18.96 million in federal lobbying in the first three quarters of 2023.

Coinbase, one of the leading cryptocurrency exchanges based in the United States, has highlighted the importance of stablecoins in facilitating seamless transactions. 

Ark Invest, led by Cathie Wood, has once again reshaped its portfolio by selling over $1.4 million worth of Coinbase Global Inc shares. This decision, following a pattern of recent sell-offs, unfolds during a buoyant period in the cryptocurrency space, notably with Bitcoin trading above the crucial $40,000 threshold.

US stocks ended lower on Monday, interrupting last week's rally, as investors turned cautious ahead of employment data due this week that could alter expectations that the Federal Reserve will cut interest rates early next year. The S&P 500 receded, with megacaps Microsoft, Apple, Nvidia and Amazon dipping over 1%, pressured by higher U.S. Treasury yields, which made returns on stocks less attractive. The S&P 500 registered its highest close of the year on Friday as remarks from Fed Chair Jerome Powell acknowledged the central bank's need to «move forward carefully» amid signs of economic softening, comments that bolstered expectations the Fed has finished raising rates. Small-cap stocks rose on Monday, with the Russell 2000 rallying about 1% and bringing its gain this year to almost 7%. «There is a lot of chop around here that is not necessarily meaningful,» said Tom Martin, a senior portfolio manager at GLOBALT Investments in Atlanta. «We have a really important Fed meeting coming up, and what makes it important is that all of a sudden, the market has decided that they're going to cut early next year.» The S&P 500 declined 0.54% to end the session at 4,569.78 points. The Nasdaq declined 0.84% to 14,185.49 points, while Dow Jones Industrial Average declined 0.11% to 36,204.44 points. Volume on U.S.

Bitcoin's price rose above $41,000 on Monday, reaching levels not seen since before the collapse of the crypto stablecoin TerraUSD in May 2022.

Shares of public crypto companies listed in the US experienced a surge on Monday as Bitcoin (BTC) surpassed $42,000, reaching a new high for the year.

“The natural trend of whichever country has the reserve currency is to inflate the money supply and increase deficit spending until it loses that advantage,” Armstrong posted, pointing out that “the U.S. is somewhere on this journey.”

The U.S. Securities and Exchange Commission (SEC) has filed a complaint against Payward Inc. and Payward Ventures Inc., collectively known as Kraken, for operating their cryptocurrency trading platform without the necessary registrations. The complaint, filed in San Francisco, alleges violations dating back to September 2018. Kraken is accused of functioning as an unregistered exchange, broker, dealer, and clearing agency, amalgamating the roles of these entities without proper registration. This reportedly deprived investors of crucial protections, such as SEC inspection and safeguards against conflicts of interest.

Investing.com — U.S. futures traded lower Monday, handing back some of the previous month's strong gains at the start of a new week.