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Tag: Coinbase

September 24, 2024

Coinbase and its Fight Against the SEC Continues with A Small Win!

The U.S. SEC filed a lawsuit against Coinbase, one of the largest crypto exchanges in the U.S., in June 2023. The core issue of this lawsuit revolves around whether certain crypto assets traded on Coinbase's platform should be classified as securities. On Monday, members of a Third Circuit panel pressed the regulator on its brief denial of crypto exchange Coinbase's request for rulemaking around digital assets.

September 10, 2024

Public-Listed Crypto Exchange Coinbase Has to Face Shareholder Lawsuit Over SEC Risks!

U.S. crypto exchange Coinbase must face a shareholder lawsuit accusing it of downplaying regulatory risks, specifically the chances of being sued by the SEC. While a U.S. judge dismissed parts of the case, the key allegation of misrepresenting regulatory risks will proceed. This case underscores the importance of transparency in the crypto sector, where regulatory uncertainties continue to loom large, particularly in the U.S.

September 9, 2024

Jack Dorsey’s Block Surpasses Coinbase in Market Cap as the Crypto Sector Shows Weakness!

Block, the fintech venture of former Twitter CEO Jack Dorsey, has overtaken Coinbase in market cap, underscoring the challenges facing the crypto sector as stock volatility and regulatory battles weigh down Coinbase’s performance. The crypto market capitalization is currently in a correction phase within a symmetrical triangle pattern, having dropped 12.34% after testing the triangle's upper trendline as support.

August 28, 2024

SEC Lawsuit Against Kraken Moves Forward Amid Continued Regulatory Crackdown in the U.S.

While the EU has created a comprehensive regulatory framework for the crypto sector with MiCA, the U.S. SEC operates on the basis of a decades-old framework designed for legacy securities, with a “regulation by enforcement” approach, as in the case of Kraken. The SEC's lawsuit against Kraken for operating as an unregistered securities exchange will proceed to trial, intensifying the legal challenges facing major crypto platforms in the U.S.

August 25, 2024

Class Action: Rosen Law Firm Investigates Claims Against US Crypto Exchange Coinbase!

Rosen Law Firm, a global investor rights law firm based in New York, United States, announces an investigation into potential securities claims against the NASDAQ-listed US crypto exchange Coinbase following allegations of misleading business information. Allegedly, Coinbase may have issued materially misleading business information to the investing public. The law firm invites Coinbase shareholders to join a class action.

August 24, 2024

Mobilizing 52 Million Crypto Owners: The Coinbase Campaign for Crypto-Friendly Regulation!

As the 2024 U.S. elections approach, US crypto exchange Coinbase is spearheading a major initiative to mobilize the nation’s 52 million crypto owners into a powerful advocacy group. This "Stand with Crypto" campaign is not just about rallying support—it's about making a decisive impact on the regulatory landscape for cryptocurrencies. Apparently, Coinbase wants to enforce crypto regulation and fight the U.S. SEC's regulation-by-enforcement approach.

August 23, 2024

Crypto Buys Democracy: Public Citizen Raises Alarms Over Influence and Regulatory Risks

The democracy advocacy group Public Citizen has sounded the alarm on the massive influx of cryptocurrency-related donations aimed at influencing the upcoming U.S. presidential election. Major players in the crypto industry, including Coinbase and Ripple, have emerged as some of the largest corporate political contributors this election cycle, pouring over $100 million into political action committees (PACs) that back candidates with pro-crypto stances.

August 16, 2024

Cybercrime Alert: The Rise of Sophisticated Scams Targeting Crypto Investors – A Case Study and Warning

Scammers are a permanent threat in today's networked environment. In a recent alarming incident, a Coinbase user from Connecticut lost over $100,000 to cybercriminals in just 20 minutes after mistakenly contacting a fraudulent customer support number. This case highlights the increasing sophistication of scams targeting crypto investors and serves as a crucial warning for the entire investment community.

August 10, 2024

Coinbase Pushes Back Against CFTC’s Proposal on Event Contracts, Citing Unjustified Ban

The leading US crypto exchange Coinbase has sharply criticized the U.S. Commodity Futures Trading Commission's (CFTC) recent proposed rulemaking seeking to ban certain political event contracts, arguing that the move would unjustifiably stifle a burgeoning area of the economy. In a statement posted on X, Paul Grewal, Coinbase's Chief Legal Officer, emphasized the potential of event markets within the future economy and expressed concern over the CFTC’s approach.

August 6, 2024

SEC Pushes Back Against Coinbase’s Expansive Subpoena Request

The U.S. Securities and Exchange Commission (SEC) has urged a federal court to reject Coinbase’s sweeping subpoena request, which seeks to obtain the personal communications of SEC Chair Gary Gensler. Coinbase, led by CEO Brian Armstrong, has been accused by the SEC of overreaching in its strategy to gather evidence for its defense in the ongoing legal battle with the SEC over alleged securities law violations, CoinDesk reports.

FinTelegram

July 5, 2024

The Struggling Regulator: Coinbase Argues Gary Gensler’s Emails are Critical for Discovery in SEC Lawsuit!

In the ongoing legal battle between the leading U.S. crypto exchange Coinbase and the Securities and Exchange Commission (SEC), the crypto exchange has renewed its efforts to access the personal emails of SEC Chair Gary Gensler. Coinbase asserts that these communications are a crucial part of the discovery process. The argument is that Gensler's communications and views on cryptocurrencies as SEC Chair are essential to its "fair notice" defense.

July 1, 2024

Crypto Compliance: Major Setback for Binance as Judge Allows SEC Lawsuit to Move Forward!

In one of the most prominent crypto court cases, SEC v. Binance, the federal judge Amy Berman has ruled that a substantial part of the SEC's lawsuit against the embattled crypto exchange can proceed. This ruling represents a notable setback for Binance, which had sought to have the case dismissed. The SEC's lawsuit, filed in June 2023, accuses Binance and its former CEO, Changpeng Zhao, of multiple violations of securities laws.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.