On September 27, 2021, at the Southern District of New York courthouse, the trial against former Ethereum developer Virgil Griffith started at 9:30 a.m. (EST). Griffith was facing 20 years behind bars for discussing blockchain technology in North Korea. Around 10:30 a.m., Griffith pleaded guilty and accepted a plea deal with up to six and…
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Chinese traders appear to be flocking to derivatives DEX dYdX amid concerns over a renewed crypto crackdown in China. Decentralized derivatives exchange dYdX has seen a surge in trade activity as concerns surrounding a renewed Chinese crypto crackdown have circulated this year, with the DEX now processing more volume than Coinbase’s spot markets for the…
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As of September 25, 2021, there’s $129.3 billion worth of stablecoin assets in existence which represents 6.54% of the crypto economy. The second-largest stablecoin by market valuation, USDC, has seen its capitalization increase a great deal, rising more than $10 billion in 125 days. Since May, USDC’s Market Cap Increased by 54% In recent times,…
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In April, sharing their Coinbase account credentials with a fraudster had cost a California resident more than $11 million. Now, there might be recourse. On September 17, a group of officials led by U.S. attorney Tracy Wilkinson have filed a civil complaint in the United States District Court for the Central District of California claiming…
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Kraken’s Marco Santori points to the adversarial stance taken by some crypto firms toward regulators. Amid a fraught period for some high-profile United States crypto firms and financial regulators, Kraken chief legal officer Marco Santori is calling for a dose of pragmatism going forward. Speaking on Bloomberg’s QuickTake Stock broadcast on Thursday, Santori told viewers, “You’re living…
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Coinbase CEO Brian Armstrong has stated that SEC won’t meet with the firm, while asserting the 50% of Washington officials are concerned over the risks of crypto. Coinbase CEO Brian Armstrong claims that the U.S. Securities and Exchange Commission (SEC) is the only government branch that is not willing to meet with the firm. Speaking…
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The U.S. exchange is looking to hire a leader with excellent political judgment to oversee relations with Washington D.C. Coinbase is looking for a new hire to manage the exchange’s sour relationship with policymakers. The United States-based crypto exchange aims to swell its legal and compliance team ranks. The company is looking for more than…
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The Nasdaq-listed cryptocurrency exchange Coinbase has dropped its plan to launch a lending program after the U.S. Securities and Exchange Commission (SEC) threatened to sue the company. Coinbase Will Not Launch Lending Program Coinbase announced Friday that it has decided not to launch the Lend program. The exchange wrote: Our goal is to create great…
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The exchange hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring its Lend product to the market. U.S.-based cryptocurrency exchange Coinbase has announced it will not be pursuing its Lend crypto lending program. In a Sept. 17 update to a blog announcing the program in June, Coinbase hinted…
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Nonetheless, the Dogecoin-knockoff token was down by more than 80% from its record high of $0.00005. Shiba Inu (SHIB) crept up Friday as traders assessed its addition on Coinbase, one of the world’s leading crypto exchanges. The SHIB/USDT exchange rate jumped up to 16.42% to $0.00000950 for the first time since June 29, 2021. The…
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