Coinbase Financial News

(Updated — November 24, 2023 12:21 PM EST)

Bitcoin reserves on the world’s largest cryptocurrency exchange, Binance, are rapidly depleting, according to data from blockchain analytics firm CryptoQuant.

“The crypto game feels a bit more fair today,” Kraken co-founder Jesse Powell said in an X post on Wednesday.

Singapore-based Crypto-fiat payment solution, Alchemy Pay, announced further expansion into the U.S. market through their acquisition of a Money Services License in Iowa on Thursday morning.

Former  Binance  CEO Changpeng Zhao, commonly known as CZ, is still worth $15 billion despite recently pleading guilty to federal money laundering charges.

Brian Armstrong-led cryptocurrency exchange Coinbase has again called on the US justice system to persuade the Securities and Exchange Commission (SEC) to provide clear regulatory guidelines on crypto assets.

United States-based cryptocurrency exchange Coinbase has renewed its call to compel the Securities and Exchange Commission (SEC) to respond to the company’s petition to create rules on crypto, using the regulator’s recent enforcement action against Kraken to back up its claims.

Following Binance’s massive $4.3 billion fine and founder and CEO Changpeng “CZ” Zhao’s decision on Tuesday to step down from the company, industry leaders have been reassuring the community that crypto is here to stay, and that it’s likely to come out even stronger.

Binance , the world’s largest crypto exchange, is expected to maintain its position as the dominant global exchange, even after reaching a settlement with the U.S. Department of Justice (DOJ). 

Coinbase CEO, Brian Armstrong says the Binance settlement is a chance for the industry to prioritize compliance and rule clarity to prevent regulators from slamming huge fines on companies.

New Binance CEO Richard Teng has hinted at the exchange’s ability to pay the $4.3 billion it has been fined by the US Justice Department. 

Brian Armstrong, CEO of crypto exchange Coinbase, thinks that his company made the right decision to comply with United States money transmitter licensing laws.

Binance, the world's largest cryptocurrency exchange, will pay one of the largest corporate penalties in U.S. history as a coalition of federal regulators accused the company of violating laws in pursuit of growing market share.

Kazakhstan's Ministry of Culture and Information has clarified its decision to block the global cryptocurrency exchange, Coinbase, within the nation's borders. The ministry asserts that the trading of cryptocurrencies on Coinbase is in direct violation of the Kazakhstani law on Digital Assets. This clarification was provided in response to an inquiry from «Kursiv,» following a request from the Ministry of Digital Development, Innovations, and Aerospace Industry. The request was made to block access to Coinbase, which contravened section 5 of Article 11 of the country’s Digital Assets Law.

It’s being touted as crypto’s big breakthrough on Wall Street: The imminent arrival of bitcoin exchange-traded funds that will kick open digital-currency investing to the institutional and retail masses.

The U.S. Securities and Exchange Commission (SEC) fired a fresh salvo in its cryptocurrency crackdown on Monday when it sued Kraken for operating an unregistered securities exchange and allegedly mixing customer funds with its own.

The U.S. Securities and Exchange Commission (SEC) has added Kraken – a San-Francisco-based crypto exchange – to its hitlist of industry giants charged with a litany of securities law violations and internal control failures.

The move follows similar charges levelled by the SEC against Binance and Coinbase and comes just months after Kraken and the watchdog reached a $30 million settlement over the failure to register a staking-as-a-service programme.The SEC alleges that Kraken intertwines the traditional services of an exchange, broker, dealer, and clearing agency without having registered any of those functions with the Commission as required by law. Kraken’s alleged failure to register these functions has "deprived investors of significant protections," including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.In addition, says the SEC, Kraken commingles its customers’ money with its own, including paying operational expenses directly from accounts that hold customer cash.

The Securities and Exchange Commission accused crypto exchange Kraken of securities-law violations, less than a year after unveiling a $30 million settlement with the firm over other alleged conduct.

Senator Cynthia Lummis has criticized the Securities and Exchange Commission (SEC) for its current approach to cryptocurrency regulation.

The Blockchain Association has thrown fresh support behind six plaintiffs suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash.