Crypto exchange Coinbase has filed an amicus brief in support of Ripple (XRP), arguing that the SEC’s lawsuit led to retail traders losing $15 billion. According to the exchange, the SEC action forced U.S.-based exchanges to delist XRP, causing retail customers significant losses as the coin’s market cap declined. The U.S.-based crypto firm continued that…
Coinbase has denied allegations from The Wall Street Journal that it engaged in proprietary trading. The exchange said Sept. 22 that the WSJ had confused its client-driven activities with proprietary trading. Proprietary trading allegation The Journal reported earlier on Sept. 22 that Coinbase created a trading group that used $100 million of the company funds…
Coinbase is financing a lawsuit filed against the US Treasury Department by six users of sanctioned crypto protocol Tornado Cash, CNBC reported on Sept. 8. The lawsuit argued that the sanctions were a violation of the plaintiffs’ rights as guaranteed by the US constitution, adding that the authorities overstepped their authority in sanctioning a “decentralized,…
Coinbase has submitted a proposal that could see MakerDAO (MKR) earn up to $24 million annually if passed. According to the proposal, MakerDAO will transfer 33% of its $1.6 billion Peg Stability Module (PSM) — roughly $528 million — into a Coinbase Prime custody account to earn a 1.5% annual yield on savings. PSM is a…
Five prominent cryptocurrency exchanges in the U.S. received letters from Congress requesting information about their steps to combat crypto fraud. The inquiries are part of the latest push from Congress to bring tighter regulation to the crypto industry in the U.S., as the country still struggles to determine which of its many regulatory agencies should…
Coinbase has launched a liquid token for its users who staked their Ethereum (ETH) on its platform called cbETH, according to an August 24 announcement. Coinbase will add support for Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds will be lost….
Coinbase CEO Brian Armstrong said on August 17 that the firm would shut down its staking services if regulators wanted it to censor transactions as a validator. It’s a hypothetical we hopefully won’t actually face. But if we did we’d go with B i think. Got to focus on the bigger picture. There may be…
Coinbase confirmed that the U.S. SEC is investigating some of its products, including staking. The exchange disclosed this information in its quarterly report stating, “The Company has received investigative subpoenas and requests from the [U.S. Securities and Exchange Commission] for documents and information about certain customer programs, operations, and existing and intended future products, including…
Coinbase has announced a new partnership with BlackRock to provide direct crypto services for its institutional clients using Aladin –an end-to-end investment management platform of the asset manager. According to the Aug. 4 announcement, the services would include crypto trading, custody, prime brokerage, and reporting capabilities provided through Coinbase prime. Joseph Chalom, the global head…
Coinbase wants the US Supreme Court to stop two lawsuits against it — which it considers “frivolous” — to allow room for arbitration, Bloomberg News reported on August 3. The two lawsuits are currently before Federal courts, where the judges have rejected the exchange’s move to send the cases into arbitration. Coinbase plans to appeal…