Coinbase executives claim that staking is not a security under the US Securities Act or Howey test. Crypto exchange Coinbase’s executives are standing up for its crypto staking services, claiming it cannot be classified as a security, and threatening to bring the matter to the courts in the United States. Coinbase CEO Brian Armstrong posted…
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JPMorgan, one of the biggest financial institutions in the world, estimates that the arrival of the next Ethereum upgrade, codenamed Shanghai, will bring more investors to stake their funds in the protocol. The firm believes that this number might reach 60% of the ether issued, a number already staked in other blockchain networks.
JPMorgan…
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While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year. Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department…
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Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users to “participate directly in running open crypto networks.” Coinbase CEO Vocalizes Worry Over…
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Kraken, a U.S.-based cryptocurrency exchange, has agreed to wind down its cryptocurrency staking program as part of an arrangement with the U.S. Securities and Exchange Commission (SEC) to settle for the unregistered offer of its staking services. The exchange will also pay $30 million in disgorgement, prejudgment interest, and civil penalties, as indicated by the…
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As of Feb. 7, 2023, the value locked in 11 Ethereum-based liquid staking protocols has risen above $11 billion, with Lido, Coinbase, and Rocket Pool recording 4-10% gains over the past month. Lido holds more than 73% of the total value locked (TVL) out of the 6.87 million ether held by the 11 liquid staking…
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Crypto execs suggested that the “extremely challenging” times forced them to cut jobs in order to “weather this extended” crypto winter. Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.” At least 216 jobs were slashed between three crypto firms…
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A U.S. district judge has dismissed a lawsuit against Coinbase and its CEO Brian Armstrong filed by customers of the crypto exchange. The lawsuit alleges that Coinbase sold 79 crypto tokens that are unregistered securities. Customer Lawsuit Against Coinbase Dismissed A proposed class action lawsuit filed in Manhattan by customers of cryptocurrency exchange Coinbase (Nasdaq:…
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Major crypto exchange Coinbase has achieved success in its legal battle related to a lawsuit filed by a group of clients who claimed the platform facilitated the sale of unregistered securities and failed to register as a broker-dealer. The exchange managed to secure a dismissal of the class-action suit. … Read More: Coinbase Emerges Victorious in Case Over…
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