Coinbase Financial News

TL:DR

Leading cryptocurrency exchange Coinbase faced increased impersonation scams last week, targeting at least four users. Crypto thieves used social engineering and impersonation tactics to deceive victims into revealing sensitive financial information. One victim lost over $1M in cryptocurrency to the scammers.

The U.S. Marshals Service (USMS), a division of the Department of Justice responsible for asset forfeiture, has partnered with Coinbase Prime, the brokerage platform of major crypto exchange Coinbase.

German authorities have sent an additional 282.74 BTC ($17.6 million) to cryptocurrency exchanges Coinbase, Bitstamp, and Kraken, raising speculation about a potential sell-off of the assets.

The UK’s Solicitors Regulation Authority (SRA) issued a warning on July 8 about a sophisticated email scam involving fraudsters impersonating solicitors to demand Bitcoin.

Another major Bitcoin transfer occurred in Germany. On July 4, 1,300 BTC was transferred in portions to Coinbase, Kraken, and Bitstamp, adding to a series of recent German BTC transfers that could increase the selling pressure on Bitcoin.

Check out the companies making headlines in midday trading:

The legal battle between Coinbase and the SEC heated up on July 3 as the cryptocurrency exchange sought to gain access to emails from SEC Chair Gary Gensler, claiming they held crucial evidence for its defense.

The German government transferred over 1,000 Bitcoins via cryptocurrency exchanges including Coinbase and Kraken on July 11, amidst a downturn in the Bitcoin market. This transfer is the latest in a series that has prompted scrutiny of the government’s Bitcoin strategy.

Prices for major cryptocurrencies, as well as shares of Coinbase Global (COIN) and MicroStrategy (MSTR), slumped Friday as collapsed crypto site Mt. Gox began paying back creditors.

LiquiTrade, the operator of the Latoken crypto exchange, has been found guilty of illegally operating an exchange in Canada by a panel established by the British Columbia Securities Commission (BCSC).

Crypto exchange Coinbase has partnered with payments company Stripe to benefit both their customer bases.

Crypto exchange Coinbase (COIN) sued U.S. financial regulators Thursday, saying they failed to disclose information about past investigations into the cryptocurrency market and attempted to block the crypto industry from access to banking services.

Coinbase has filed lawsuits against the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) after the crypto exchange failed to obtain requested records from the government agencies under the Freedom of Information Act (FOIA), Thursday court documents show.

The US government, on Wednesday, sent seized 3,940 Bitcoins to a Coinbase prime wallet, according to blockchain data firm Arkham Intelligence.

Sundar Pichai and Microsoft’s Satya Nadella – did not make it to the list.On Monday, C-Suite Comp released two lists of the highest-paid CEOs based on two metrics: “total compensation granted" in 2023 and “compensation actually paid."Nikesh Arora, 56, was ranked number four on the list of “Highest earning CEOs in the US by total compensation granted in 2023" with earnings of $151.4 million and was on the 10th spot in the list of “Highest earning CEOs in the US by compensation actually paid in 2023" with an annual compensation of $266.4 million.Tesla CEO Elon Musk topped the list with a staggering earnings of $1.4 billion in 2023. 1- Tesla’s Elon Musk - $1.4 billion2- Palantir Technologies’ Alexander Karp - $1.1 billion3- Broadcom’s Hock Tan - $767.7 million4- Coinbase Global’s Brian Armstrong - $680.9 million5- Oracle’s Safra Catz - $304.1 million6- Airbnb’s Brian Chesky - $303.5 million7- TPG’s Jon Winkelried - $295.1 million8- Trade Desk’s Jeff Green - $291.7 million9- Applovin’s Adam Foroughi - $271.3 million10- Palo Alto Networks’ Nikesh Arora – $266.4 millionArora’s stellar career includes stints at Google and SoftBank Group.

The U.S. Securities and Exchange Commission has filed a lawsuit against Coinbase, accusing the exchange of facilitating unregistered securities trading. The outcome of this case may have far-reaching effects on the regulatory framework governing cryptocurrencies in the U.S.

Bybit cryptocurrency exchange surpassed Coinbase to become the world’s second-largest cryptocurrency exchange by volume after Binance, according to a June report from crypto research firm Kaiko.

Coinbase is spending $2m on ads aimed at Latino voters and consumers, part of the crypto industry’s effort to get supportive politicians in power.

Crypto investment firm Pantera Capital has set its sights on raising a new fund of $1 billion to inject fresh capital into the crypto industry.

Brazil’s tax department is reportedly calling out some of the major international crypto exchanges, seeking information on their operations and collaborations with local crypto service providers.