Coinbase

Share to Twitter Share to Linkedin Coinbase, a leading United States-based cryptocurrency exchange, is considering diversifying its risk by establishing a trading platform in another country, according to Bloomberg . The Securities and Exchange Commission’s Crypto Assets and Cyber Unit in the Division of Enforcement plans to grow its division to about 50 dedicated positions from 30 white-collar regulatory officials. The new headcount will be tasked with investigating, auditing, examining and potentially prosecuting securities law violations related to crypto-related products and trading activities. In the wake of the spectacular implosion of crypto exchange FTX, led by its now-disgraced founder Sam Bankman-Fried, followed by the shuttering of crypto-friendly Silvergate Bank and Signature Bank and somewhat adjacent Silicon Valley Bank, it looks like the SEC is planning to vigorously scrutinize this sector more closely. If digital asset companies … [Read more...] about Coinbase Is Considering Diversifying Its Regulatory Risk By Moving A Trading Unit Outside Of The U.S.

Share to Twitter Share to Linkedin Topline Cryptocurrency exchange Coinbase announced Wednesday it received a notice from the Securities and Exchange Commission warning that regulators have identified possible violations of securities law, in the latest legal snarl for the crypto giant. Key Facts Coinbase attorney Paul Grewal said in a blog post the SEC sent the company a “Wells notice” warning it of possible violations that could lead to charges, but offered “little more” information, other than telling the company the infractions may involve “an undefined portion of our listed digital assets, our staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet.” Grewal said Coinbase “prepared for this disappointing outcome,” but will continue to operate as normal. Grewal added, “we are very confident in the way we run our business,” while blasting the SEC for a so-called lack of transparency and criticizing regulation of crypto … [Read more...] about Coinbase Crypto Exchange Faces Possible SEC Charges, Company Says

Share to Twitter Share to Linkedin Coinbase COIN (NYSE: COIN) began its publicly traded existence on April 14th, 2021 as a hot initial public offering that cryptocurrency freaks could not stop talking about. There was more than the usual amount of “this one’s going to the moon!” free and sometimes paid-for advice that typifies a certain type of IPO no matter what the era or the industry. The certainty of success seemed obvious to the many who participated. When the stock was issued at a price of $250 — which got filled, by the way, by few investors — an immediate at-the-open rally took it up to $381 within minutes and then to a quick blast up to $424, a peak never to be seen again. Coinbase since then is an example of almost relentless selling as the crypto world it represents entered what those enthusiastic about it took to calling “winter” — although some have noted that it’s lasted almost as long as an ice age, so far. This week’s news … [Read more...] about Coinbase: From Hot IPO To Cold Wells Notice

Share to Twitter Share to Linkedin Bitcoin BTC , ethereum and other major cryptocurrencies have surged this week amidst a banking crisis that could be about to cause a massive Federal Reserve earthquake . Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the latest bitcoin and crypto market crash The bitcoin price has topped $27,000 per bitcoin, up over 30% since this time last week, hitting a level it hasn't seen since June last year. The bitcoin boom has also sent the ethereum price and other major cryptocurrencies sharply higher. Now, after JPMorgan analysts said the Fed's new bank backstop program could inject up to $2 trillion into the financial system, technology investor and former Coinbase COIN chief tech officer Balaji Srinivasan has warned the latest banking crisis could spark hyperinflation in the U.S.—and advised people to "buy bitcoin now and get your coins off exchanges." … [Read more...] about ‘Buy Now’—$2 Trillion Fed Bazooka Triggers Shock Hyperinflation Warning Amid Bitcoin, Ethereum And Crypto Price Boom

Share to Twitter Share to Linkedin 03/18 update below. This post was originally published on March 17 Bitcoin BTC , ethereum and other major cryptocurrencies have surged this week amidst a banking crisis that could be about to cause a massive Federal Reserve earthquake . Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the latest bitcoin and crypto market crash The bitcoin price has topped $27,000 per bitcoin, up over 30% since this time last week, hitting a level it hasn't seen since June last year. The bitcoin boom has also sent the ethereum price and other major cryptocurrencies sharply higher. Now, after JPMorgan analysts said the Fed's new bank backstop program could inject up to $2 trillion into the financial system, technology investor and former Coinbase COIN chief tech officer Balaji Srinivasan has warned the latest banking crisis could spark hyperinflation in the … [Read more...] about Bitcoin At $1 Million In 90 Days And Dollar Destroyed—Huge Crypto Price Prediction Bet Fueled By Bank Crisis And Hyperinflation

Share to Twitter Share to Linkedin Widely circulated reports that the U.S. Securities and Exchange Commission (SEC) is investigating $20 billion crypto exchange Coinbase are just the tip of the iceberg, according to a staffer from U.S. Senator Cynthia Lummis’ (R-Wy) office. The staffer says every U.S. crypto exchange—and the largest crypto exchange in the world, Binance—are in various stages of being investigated. There are more than 40 U.S. cryptocurrency exchanges, according to crypto data site, CoinGecko. The SEC has not responded to multiple requests for comment. Coming in the wake of a number of SEC actions asserting the regulator’s domain over the crypto industry, and an equally strong response by the U.S Commodity Futures Trading Commission (CFTC) pushing back against what it characterizes as “regulation through enforcement,” the staffer says the SEC urgently wants to resolve its dispute with the CFTC over crypto jurisdiction. If the matter isn’t … [Read more...] about Every U.S. Crypto Exchange (And Binance) Is Being Investigated By The SEC, Says Senator Lummis Staffer

Cathie Wood's Ark Investment raised about $16 million for new private crypto funds, according to U.S. Securities and Exchange filings. Key Takeaways ARK Investment raised $16.3 million via two private crypto funds from 10 investors. The two funds, based in the U.S. and Cayman Islands, are open-ended with minimum $500,000 investments. ARK Investments has been extremely bullish on cryptocurrency, estimating bitcoin price to increase to $1.5 million by 2030. The newly introduced crypto funds were halved between a domestic and a Cayman Islands-based version. The ARK Crypto Revolutions U.S. Fund LLC raised about $7.3 million from nine investors, while the ARK Crypto Revolutions Cayman Fund LLC raised $8.99 million from a single investor totaling approximately $16.3 million. The investment target wasn't capped, rather, it's “indefinite,” indicating the funds are open-ended with an exclusive list of investors who have access to it. The minimum investment required … [Read more...] about Cathie Wood’s Ark Investment Raises $16 million for Private Crypto Funds

Blacklisted Bitcoin? Frankfurt’s Bankhaus Scheich has a budding business cleaning crypto and getting it back into circulation. J ust before sunset on a chilly Spring day in 2019 armed German special agents broke down the door to the Frankfurt home of a 22-year-old hacker who the government has only identified as Coder420, the developer of a dark web exchange called Wall Street Market. At its peak, the enterprise was the largest of its kind, conducting about €50 million in sales between October 2016 and April 2019, selling everything from cocaine to credentials. At the time of Coder420’s arrest, he had roughly 1,000 bitcoins, then worth $5.5 million. The operation was a huge success. The German state of Hesse, home to Germany’s finance capital Frankfurt, seized 2,200 bitcoin and other cryptocurrencies from Coder420 and two collaborators. “It was a classical takedown of a darknet marketplace,” says Jana Ringwald, 41, a senior prosecutor for the attorney general of Frankfurt. … [Read more...] about Legal Money Laundering: How A German Bank Is Cleaning Tainted Bitcoin And Other Dirty Cryptos

Share to Twitter Share to Linkedin Esteban Castaño TRM LABS Reported by Nina Bambysheva, Michael del Castillo and Steven Ehrlich The cryptophiles are settling into the realities of a bear market, but their recent triumphs should not be lost. A record nine cryptocurrency-focused companies made it onto this year’s Forbes Fintech 50 list–an honor roll of the most innovative private companies in fintech. Collectively, these nine trailblazers have raised $6.5 billion in venture capital, with the lion’s share of that coming within the past 12 months. Leading the pack is billionaire Sam Bankman-Fried’s crypto exchange FTX, which raised $1.5 billion in private funding last year alone, jolting its valuation from $1.2 billion to $25 billion. A $500 million raise this past January took its valuation to $32 billion, making it the third most valuable private fintech headquartered or doing business in the U.S. With its rapidly growing U.S. … [Read more...] about The Future Of Crypto And Blockchain: Fintech 50 2022

Share to Twitter Share to Linkedin On Friday, Balaji Srinivasan , a man who wields considerable influence in the tech and crypto worlds, made a jaw-dropping bet : $2 million that bitcoin would skyrocket from the mid-$20,000 range to $1 million per coin within 90 days. With this wager setting tongues wagging, the question on the lips of everyone outside the Silicon Valley club is: who exactly is Balaji Srinivasan? Srinivasan, or @balajis, as he’s known on Twitter, has a resume that could be a model for the tech and crypto industries. He’s an angel investor, tech founder and bestselling author of The Network State (in which he argues that technology will usher in the end of the nation-state era). His experience spans from being the CTO of Coinbase and a general partner at venture firm Andreessen Horowitz, to cofounding several companies that were later acquired. Srinivasan is hailed as a polymath, with degrees in electrical and chemical engineering … [Read more...] about Who Is Balaji Srinivasan And Why Should We Care About His $1 Million Bitcoin Prediction?