Coinbase Financial News

The U.S. Securities and Exchange Commission (SEC) is likely to extend its enforcement crackdown to both decentralized finance (DeFi) and stablecoins, wrote Berenberg in a research report published on Tuesday. 

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Global cryptocurrency exchange Binance announced the launch of a regulated digital asset platform in Kazakhstan amid growing regulatory troubles in the West. The launch of the new platform was announced at a press event on June 20, 2023, in the presence of representatives of Kazakhstan’s banking industry, and Binance Kazakhstan's leadership. 

EDX Markets, a new crypto exchange backed by a consortium of traditional Wall Street firms including Charles Schwab and Citadel Securities, said on 21 June it had begun processing trades.

Bitcoin is grabbing attention once again, as it has witnessed a remarkable surge of over 11% in the past week.

EDX Markets, a cryptocurrency platform backed by Charles Schwab (SCHW), Fidelity and Ken Griffin's Citadel Securities, launched trading for bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).

The crypto industry crackdown spearheaded by the U.S. Securities and Exchange Commission (SEC) could be put to rest by a decades-old legal doctrine, according to one of the regulator’s previous advisors. 

The bankrupt crypto exchange FTX is facing escalating legal and advisory costs, recent filings submitted by the exchange’s bankruptcy advisors have revealed.

The Ethereum price has inched upwards by 0.4% in the past 24 hours, rising to $1,729 after Ethereum developers proposed raising the deposit requirement for validators from 32 to 2,048 ETH.

Despite seeing themselves as more “risk averse” than their older counterparts, nearly a third of all young Australian investors hold or have traded cryptocurrencies over the last year, a new study has found.

In an interview with Bloomberg, ARK Invest CEO and chief investment officer Cathie Wood recently discussed why her flagship fund, Ark Innovation (ARKK), is adding to its position in shares of Coinbase (COIN) after the Securities and Exchange Commission (SEC) sued Binance, one of Coinbase’s biggest competitors.

Binance’s US-based exchange, Binance.US, has seen a sharp decline in its share of the trading volume among exchanges that support USD-to-crypto trading.

The US Securities and Exchange Commission was recently heavily criticized by a Coinbase executive after it provided rather evasive responses to questions from the US federal court. 

cryptocurrency market experienced a volatile week, driven by the release of the Consumer Price Index (CPI) data for May and discussions surrounding Monetary Policy. Throughout the week, the trading range of Bitcoin (BTC) fluctuated between the levels of US$24,900 and US$26,250. Initially, Bitcoin started the week above the US$26,000 mark, but it later dropped below US$25,000, reaching its lowest point since March. This drop was influenced by the Federal Reserve's decision to maintain unchanged interest rates. Surprisingly, the Fed also projected two additional interest rate hikes in the current cycle, which aligned with investor expectations. However, contrary to expectations, the crypto market changed course and resumed the sell-off that had been ongoing for the past three weeks. Additionally, after a series of ten consecutive rate hikes, the Fed's benchmark interest rate currently stands between 5% and 5.25%. This signifies the highest rate since 2007 and determines the interest charged on short-term loans by banks and other depository institutions. In the last 24 hours, Bitcoin (BTC) witnessed a notable surge, surpassing the US$25,500 level and rebounding from its three-month low reached on Wednesday. This recovery could be attributed, at least in part, to the submission of a crypto-backed exchange-traded fund (ETF) application by BlackRock. BTC's gain of over 1% halted its three-day losing streak. These developments occurred concurrently with legal actions initiated by the U.S. Securities and Exchange Commission against Binance and Coinbase. Despite a 6% decline in its performance for the month, Bitcoin has exhibited a remarkable 53% growth since the beginning of the year.

Coinbase has slammed the United States securities regulator for failing to answer questions asked in the U.S. Court of Appeals as part of its ongoing legal battle with the regulator.

Securities and Exchange Commission (SEC) official on Friday rejected criticism of the regulator's cryptocurrency crackdown and slammed the sector for violating securities laws. The regulator's heightened scrutiny of crypto firms comes in response to the industry's failure to comply with the agency's regulations, SEC enforcement director Gurbir Grewal said at a Rutgers University and Lowenstein Sandler LLP event in New York. The agency's aggressive policing has sparked a wave of criticism from digital assets firms and advocates on Capitol Hill for what they describe as regulatory overreach. «We have worked thoughtfully and incrementally in this space,» Grewal said on Friday. «Typically you'd also see compliance but we're not seeing that in this space, so we had to change strategies.»

Gurbir Grewal, director of the United States Securities and Exchange Commission (SEC) division of enforcement, has reportedly said the entire crypto industry was “built around noncompliance”, leading to enforcement actions.

As BlackRock, one of the world's largest asset management companies, files for a spot Bitcoin exchange-traded fund (ETF), speculation arises about the potential impact on Bitcoin's price. 

The regulatory crackdown on crypto in the US could prove to be just what is needed for the industry to thrive elsewhere, a recent Wall Street Journal article has indicated.