Coinbase Financial News

The ongoing legal battle between Coinbase and the U.S. Securities and Exchange Commission (SEC) is heating up as the regulator pushes back at giving the crypto exchange access to the personal emails of SEC Chair Gary Gensler.

Bitcoin (BTCUSD) briefly plummeted below $50,000 Monday for the first time since February as U.S. economic fears spread the market rout beyond stocks, leading to about $1.2 billion in crypto liquidations over the past 24 hours.

Cathie Wood’s ARK Invest resumed active trading of crypto-related stocks in August after selling an additional $14.7 million of Coinbase shares and investing $21 million in the Ether Staking ETF 3iQ.

Cryptocurrency exchange giant Coinbase reported total revenue reached $1.4 billion with net income amounting to $36 million in the second quarter beating analyst expectations.

Crypto.com has surpassed Coinbase in daily trading volume, reaching $3.16 billion on August 1.

The U.S. Securities and Exchange Commission (SEC) has drawn sharp criticism from Ripple executives following its decision to amend its complaint against Binance.

Crypto infrastructure provider Anoma Foundation is seeking a $1 billion valuation through a new $40 million funding round.

The Financial Conduct Authority (FCA) enforcement action against the UK-based arm of crypto exchange Coinbase was cited to be a “one-off,” according to legal expert Charlotte Tregunna.

DigitalX announced on July 19 that cryptocurrency exchange Coinbase would be its custody partner for its new spot Bitcoin ETF (BTXX). The custody of the DigitalX Bitcoin ETF (BTXX) shows the exchange’s growing role in supporting the infrastructure for Bitcoin ETFs worldwide.

The Norwich Crown Court in the UK has sentenced a 24-year-old Elliott Gunton for his alleged involvement in Coinbase hack. Per a local news report, Gunton accessed more than 500 Coinbase accounts during 2018-2019, stealing more than $900,000.

BlockFi, the beleaguered cryptocurrency lender, has received court approval to repay 100% of customers’ funds and unsecured creditors after nearly two years of financial turmoil and legal battles.

Bitcoin, which traded near $65,000 yesterday, was recently back above $67,000 as the Bitcoin 2024 conference continues in Nashville.

US Crypto exchange Coinbase has onboarded three new members to its board of directors, including Chris Lehane, an OpenAI executive who worked as a former aide to ex-US President Clinton.

Coinbase has added three new members to its board of directors, including an executive from ChatGPT-maker OpenAI, as the company steps up its efforts to sway U.S. crypto policy, Coinbase told Reuters on Thursday.

CB Payments Limited (CBPL), a subsidiary of the Coinbase Group, has been fined £3,503,546 by the Financial Conduct Authority (FCA) for repeatedly violating a restriction that barred the firm from offering services to high-risk customers.

Coinbase's CB Payments Limited (CBPL) business does not offer crypto transactions but acts as a gateway for customers to make trades via other businesses within the group.In 2020, amid concerns about the unit's financial crime control framework, it entered a voluntary requirement that prevented it from taking on new high-risk customers.Despite this, says the FCA, CBPL onboarded or provided e-money services to 13,416 high-risk customers. Nearly a third of these customers deposited $24.9 million, which was used to make withdrawals and then make crypto transactions via other Coinbase entities, totalling approximately $226 million.The FCA says the breaches were the result of CBPL’s lack of due skill, care and diligence in the design, testing, implementation and monitoring of the controls put in place to ensure that the voluntary requirement was effective.Therese Chambers, joint executive director, enforcement and market oversight, FCA, says: "The money laundering risks associated with crypto are obvious and firms must take them seriously.

Crypto companies are ramping up digital marketing efforts by running ads on mainstream platforms to increase awareness.

Bankrupt crypto lending platform BlockFi is set to commence its first temporary distribution of crypto assets through Coinbase starting in July.

Stripe, the global payment processing giant and Coinbase partner, has announced a significant expansion of its cryptocurrency services into the European Union (EU).

Cryptonews Podcast host Matt Zahab recently sat down for an exclusive interview with Sid Coelho-Prabhu, the Senior Director of Product Management for Coinbase Wallet.

Coinbase has slimmed down its subpoena to Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC).