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A recent ruling in the Western District Court of Washington has given the biggest indication yet from a federal judge that crypto traded on secondary markets like Coinbase should be classed as securities under the remit of the Securities and Exchange Commission (SEC). The case in question saw former Coinbase employee Ishan Wahi, his brother, and their friend Sameer Ramani accused of running a $1.5 million insider trading operation via the platform. Wahi and his brother have previously settled with the SEC , however, Ramani is still on the run. On Friday, Judge Tana Lin officially ruled that, despite the trades made by the trio happening on Coinbase, they should still be classed as securities and therefore fall well within the jurisdiction of the SEC and its famously anti-crypto chair Gary Gensler. Needless to say, such a ruling could have huge repercussions, not just for this case but for the entire crypto industry. “Each issuer continued to make such representation regarding th...

The shares in the prominent crypto currency exchange Coinbase experienced a remarkable surge of 37% over the past week. As anticipation mounts for Coinbase’s upcoming fourth-quarter earnings report, analysts are optimistic about the firm’s performance, especially considering the potential benefits arising from the recent approval of spot Bitcoin exchange-traded funds (ETFs) in the United States. Analyst Projections and Revenue Boost Analysts, referencing aggregated data from MarketWatch and FactSet, anticipate a substantial revenue increase for Coinbase in the fourth quarter, with estimates indicating a remarkable 22% rise from the previous quarter, totaling $825 million. Additionally, analysts expect Coinbase to report a minimal loss of 1 cent per share, a significant improvement compared to the loss of $2.46 reported during the same period last year. Despite this positive outlook, it’s worth noting that the firm has occasionally fallen short of earnings per share...

ARK Invest, led by Cathie Wood, sold 166,183 shares of Coinbase Global Inc., valued at around $25.3 million, continuing its trend of offloading shares of the cryptocurrency exchange. The firm’s latest filings reveal that the ARK Innovation ETF (ARKK) offloaded 145,048 Coinbase shares , while the ARK Next Generation Internet ETF (ARKW) sold 21,135 shares of the crypto exchange on Jan. 3 Cathie Wood bought some more Tesla $TSLA today Ark Invest's trade activity from today 1/3 pic.twitter.com/1jxEIgyBtR — Ark Invest Daily (@ArkkDaily) January 4, 2024 The sales come on the heels of ARK Invest divesting over $200 million worth of Coinbase shares in recent weeks, underscoring a significant shift in the firm’s investment strategy regarding the crypto exchange. Despite this sell-off, Coinbase’s stock performance has been notable, with a more than 300% increase over the past year. However, the stock did close down 2.96% at $152.24 on Wednesday. Source: ...

Coinbase’s stock fell over 4% in after-hours trading following the release of the company’s third quarter earnings on Thursday, which showed declining revenue and profits compared to the previous quarter . Crypto enthusiast and Lumida Wealth Management CEO Ram Ahluwalla believes there is still a bull case for Coinbase, but the company needs to make some changes to unlock value and transform into “the next Square.” Ahluwalla points in a Nov. 3 Twitter thread, out that Coinbase’s top-line revenue declined along with the overall crypto market in Q3. He says the path to GAAP profitability still looks intact, but mainly through cost-cutting measures. For the stock to maintain its high valuation multiple, Coinbase needs to show strong revenue growth. You might also like: Coinbase cuts net loss amid declining trading volume in Q3 2023 The most immediate opportunity, according to Ahluwalla, is payments. By combining Coinbase’s wallet and exchan...

The new European regulation, officially approved in May 2023, is set to come into force in December 2024. One of the top U.S.-based cryptocurrency exchanges, Coinbase, is said to have submitted its application for a license under the EU’s new Markets in Crypto-Assets (MiCA). At the same time, the current U.S. regulatory crypto environment leaves much to be desired. In a commentary to CNBC, Nana Murugesan, Vice President of International and Business Development at Coinbase, said the exchange has also decided to continue working in the European Union through its base in Ireland. Coinbase first established its office in Dublin, Ireland, back in 2018. In late 2022, the exchange won approval from the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP). The decision allowed the company to continue providing products and services to individuals and institutions in Europe and internationally from Ireland. You might also like: Malta takes next steps ...

In a Sept. 20 post on X (formerly Twitter), Coinbase announced the additional support for Vara Token (VARA) on the Vara network. With the only contingency being liquidity conditions, Coinbase expects trading to begin later on Sept. 20. From the founder of Polkadot The listing announcement included a VARA-USD trading pair, which will launch in phases. Although support may have some geographic restrictions and be under the Experimental label, what Coinbase describes as a warning on tradable assets with relatively low trading volume or that are new to the platform. Coinbase will add support for Vara (VARA) on the Vara network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is support ed. — Coinbase Assets ️ (@CoinbaseAssets) September 20, 2023 The Vara Network, defined as a decentralized Layer-1 network, was recently launched its mainnet, receiving su...

The CEO of Coinbase crypto exchange, Brian Armstrong, shared his idea for the web3 and crypto space, hinting at developing a decentralized LinkedIn. Armstrong added that companies could utilize the uniqueness of soul-bound non-fungible tokens (NFTs). He said companies could issue non-transferrable NFTs to verify identities and employment credentials for their employees. We've gotten more than 150 applications so far! Awesome to see. One other idea (#11) I'll add into the mix: a Web3 version of LinkedIn – it would be great if companies could issue soulbound NFTs to verify employment or credentials – build a front end to explore employee and… https://t.co/edFuyouRTt — Brian Armstrong ️ (@brian_armstrong) September 6, 2023 The non-transferrable NFTs, called soul-bound NFTs, were first proposed by the co-founder of Ethereum (ETH), Vitalik Buterin.  While the user interface of most of the web3 applications lacks good visuals, the 40-year-old CEO said that a ...

The recent approval allows Coinbase to join the ranks of major derivative exchanges in the United States, CME, and CBOE. The approval for America’s largest digital asset exchange, Coinbase, to offer crypto futures to U.S. retail customers is being seen as a major regulatory victory amid a heated battle with the country’s securities regulator. On Aug. 16, the National Futures Association (NFA) — designated by the U.S. commodities regulator as a registered futures association — granted Coinbase permission to operate a Futures Commission Merchant (FCM) platform. A loud signal Some crypto industry commentators see the approval as a significant regulatory victory for Coinbase and crypto, given the U.S. Securities and Exchange Commission has accused the exchange of avoiding the registration of its offerings. “If I were a judge I'd wonder why somehow [Coinbase] manages to register with the [CFTC] yet the [SEC] claims that Coinbase is unwilling to do the hard work to register," i...

After 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3% of the total crypto market capitalization. The market capitalization of stablecoins has hit the lowest level since August 2021 coming on the back of 16 consecutive months of decline, a new report says. Cryptocurrency analytics platform CCData released a report on July 20 saying the stablecoin market cap fell 0.82% from the start of the month until July 17, taking the sector's market cap to $127 billion. Stablecoin market dominance took a slight fall and is currently at 10.3%, dropping from 10.5% in June. Our latest Stablecoins & CBDCs Report is now live! Key Highlights: ️16-month fall in stablecoin market cap, now at $127bn ️ $USDT at $0.73, $USDC at $0.82 on #Binance.US ️ $USDP's largest cap drop since 2020, now at $593mn Full Report https://t.co/A9rFx6pbJx — CCData (@CCData_io) July 20, 2023 Of the top ten stablecoins, Pax Dollar (USDP) was hit hardest, falling 43.1% to $56...

Coinbase is officially deciding to re-list Ripple XRP, according to an official announcement from the exchange. “Coinbase will re-enable trading for XRP (XRP) on the XRP network,” an official tweet from Coinbase reads. Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset remain available on @Coinbase & @CoinbaseExch in the regions where trading is supported. — Coinbase Assets 🛡️ (@CoinbaseAssets) July 13, 2023 The tweet adds “Trading is anticipated to begin later today, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our XRP-USD, XRP-USDT, and XRP-EUR trading pairs will launch in phases. Support for XRP may be restricted in some supported jurisdictions.” Also read: US Judge Rules Ripple XRP is Not a Security According to the latest ruling of the ongoi...

If BTC price consolidates in the $25,000 range, ETH, XRP, LDO and RNDR could be the first altcoins to break out with recovery rallies. Altcoin price s crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total number of cryptocurrencies termed as securities by the SEC to 67. Among the mayhem, a minor positive is that Bitcoin (BTC) and Ether (ETH) have held out relatively well. This suggests that institutional investors are not panicking and dumping their positions. Due to their outperformance, Bitcoin’s dominance has risen to a year-to-date high of 47.6% and Ether’s to 20%. Crypto market data daily view. Source: Coin360 The uncertainty in the near term is likely to keep several investors on the sidelines. ...

The upgrade is part of a series of reforms meant to increase modularity in the OP Stack, allowing developers to spin up their own networks using the software. The Optimism network has concluded its “Bedrock” upgrade on June 7, reducing deposit times , lowering layer -1 fees, and enacting additional security Features , according to an announcement from network developer OP Labs. The upgrade is part of a series of reforms the developer says will help create a “Superchain” of scaleable Web3 networks based on Optimism’s OP Stack software. OP Mainnet’s migration to Bedrock has concluded and the Bedrock sequencer has started up. Key external OP Mainnet infrastructure is starting to come back online. You can track infrastructure status here:https://t.co/XTtaArdI03 — Optimism (_) (@optimismFND) June 6, 2023 In a conversation with Cointelegraph, OP Labs CEO Karl Floersch stated that Bedrock implements multiple gas optimizations the team discovered, reducing the network’s data availabi...

Binance announces plans to embrace the Lightning Network; which large crypto exchanges are Lightning ready, and which are yet to be struck? The recent surge in Bitcoin (BTC) transaction fees has lit a fire under one of the largest crypto exchanges to upgrade to the Bitcoin Lightning Network. Following a second halt in withdrawals, Binance announced it would work on “enabling BTC Lightning Network withdrawals, which will help in such situations.” To prevent a similar recurrence in the future, our fees have been adjusted. We will continue to monitor on-chain activity and adjust accordingly if needed. Our team has also been working on enabling BTC Lightning Network withdrawals, which will help in such situations. — Binance (@binance) May 8, 2023 The Lightning Network (LN) is a federated system for cheap, near-instant payments built atop Bitcoin. When the Bitcoin mempool (where transactions waiting to be confirmed gather) is full or busy, the Lightning Network is unaffected. Severa...

Despite being in the midst of a banking crisis, Bitcoin has been able to fare well and gradually rise up on its charts. In fact, the largest crypto’s dominance as a percent of the total crypto market cap has risen from the end of February’s 43.9% to 47.7% at the end of March. Reasoning out why, a recent Coinbase research Analysis noted, “ Part of the reason is that the stress in the banking system reinforced bitcoin ’s “store-of-value” properties. That is, because bitcoin largely exists outside of the traditional financial system, it offers a hedge against current conditions. “ Alongside, it should be noted that the U.S. Dollar Index continues to be on a macro-downtrend, despite the brief recovery noted from early February to early March. Bitcoin, on the other hand, had quite a fruitful Q1 and has been gradually inclining. In fact, the U.S. Dollar Index ’s 2023 high nearly coincided with Bitcoin’s 2023 low. Thus, the converse trends clearly bring to light to the inverse co...

Coinbase has recently announced in one of their recent tweets that the exchange is planning to suspend the trading of Binance USD ( BUSD ). The exchange mentioned that trading will be suspended on March 13, 2023, at or around 12:00 p.m. EST. Also read: With Bitcoin (BTC) Exhibiting Double-Digit Gains, Could it Cross $27K? The exchange has kept its word and has officially disabled trading for USD at 12:00 PM ET. We have disabled trading for Binance USD ( BUSD ). Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/jfpCZX7UTC — Coinbase Assets (@CoinbaseAssets) March 13, 2023 Coinbase officially disables BUSD trading According to the tweet’s details, trading for basic and advanced trades, Coinbase Pro, exchange, and Prime will all be suspended on Coinbase.com. The exchange, however, stated that the BUSD funds will be available and can be withdrawn a...

Kraken has put an end to staking as a service and Coinbse could eventually be forced to follow suit. Will this create opportunities for LDO, FXS and RPL? The United States Securities and Exchange Commission (SEC) is ramping up pressure on the crypto sector. On Feb. 9, the SEC reached a $30 million settlement with Kraken over the centralized staking program offered to its users. The news of the crackdown sent Bitcoin (BTC) price to a 3-week low as investors became fearful of the regulatory enforcement. On the news, Ether's (ETH) price also corrected, cementing the token’s worst-performing day of 2023. While the overall crypto market was down after the SEC announcement, bright spots arose with decentralized liquid staking tokens Lido (LDO) and Rocketpool (RPL) and Frax (FXS) quickly rebounding from their sharp corrections. According to crypto-Twitter analyst Korpi, Kraken and Coinbase represent 33% of all staked Ether, and if US-based centralized exchanges are “forced” to cease offe...

Crypto-related stocks, ETFs and tokens have all surged in price so far in 2023 despite experts expecting the Federal Reserve to continue hiking interest rates. The share price of cryptocurrency exchange Coinbase has surged by 69% since its all time lows and other crypto-related stocks including business intelligence firm MicroStrategy have recorded similar jumps with green candles all around since the start of 2023. The share price of Coinbase fell as low as $31.95 on Jan. 6, before shooting up to $54.14 by the close of trading on Jan. 17. Coinbase’s share price for the last month. Source: Yahoo Finance The rising share price will likely be accompanied by a huge sigh of relief for Coinbase executives after a challenging 2022 saw it cut 20% of its workforce and decide to wind down its Japanese operations. Despite the surge , COIN remains more than 84% below its all time high. Other crypto-related stocks such as MicroStrategy and digital payments company Block Inc. have also posted stro...