In a tweet this week, crypto advocate Nic Carter took aim at those who claim to be bitcoin enthusiasts but have been applauding the U.S. Securities and Exchange Commission’s (SEC) enforcement actions. Carter accused these individuals of turning Bitcoin into a “secular cult” and argued that the “vast majority” of them are actually newcomers to…
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Meanwhile, financial services firm Berenberg Capital told Cointelegraph that it viewed Coinbase shares as “uninvestable” in the near term. Credit ratings agency Moody’s has downgraded its rating of Coinbase from “stable” to “negative” following the SEC’s legal action against the crypto exchange for allegedly operating as an unregistered securities broker. In a June 8 statement,…
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Armstrong was selling shares under a plan set up in August that sometimes made him money and other times not; the June 5 sale was still good timing. Coinbase CEO and co-founder Brian Armstrong sold company shares the day before the United States Securities and Exchange Commission (SEC) filed a complaint against the exchange for…
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The US Department of Justice objected to a proposal by crypto exchange Bittrex to return money to customers as part of its liquidation plan. Bittrex filed for bankruptcy in May in a federal court in Delaware after facing scrutiny from both the Justice Department and the US Securities and Exchange Commission. … Read More: US Justice…
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Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering its staking-as-a-service program. Redemptions Soar on Coinbase Amidst SEC Lawsuit…
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Securities and Exchange Commission Chair Gary Gensler laid into the crypto industry on Thursday, arguing that it is possible for exchanges to register with the agency, despite platforms’ assertions that they tried to do just that. … Read More: SEC Chair Argues That It Is Possible for Crypto Platforms To Register Following Lawsuits Against Coinbase and…
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Wyoming U.S. Senator Cynthia Lummis has heavily criticized the recent legal action of the Securities and Exchange Commission (SEC) against Coinbase, stating that it might push the cryptocurrency industry and its innovation offshore. Lummis also remarked that the SEC has failed to streamline a path for cryptocurrency companies like Coinbase to regularize their operations. U.S.…
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The crypto community has minted over 140,830 non-fungible tokens (NFTs) in a collection previously launched by the exchange giant Coinbase with a goal to make the US regulators provide a much-needed “sensible crypto policy.” Launched in April this year, the ‘Stand with Crypto’ are commemorative NFTs with “no intended utility or value.” The collection is…
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U.S.-based Web3 companies and cryptocurrency exchanges could be pushed offshore following enforcement actions against Coinbase and Binance.US. The United States could run the risk of an exodus of major Web3 and cryptocurrency service providers as the Securities and Exchange Commission (SEC) takes action against Coinbase and Binance. Sergej Kunz, co-founder of decentralized finance (DeFi) protocol 1inch Network, believes…
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Coinbase CEO Brian Armstrong has responded to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against his cryptocurrency exchange. The securities regulator charged Coinbase with “operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency,” as well as selling unregistered securities “in connection with its staking-as-a-service…
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