The recent crackdown by the Securities and Exchange Commission (SEC) on crypto firms has led Bitwise Investments CIO Matt Hougan to suggest that the regulatory environment inadvertently benefits US crypto exchange Coinbase. According to Hougan, the current regulatory challenges create an “artificial moat” for Coinbase, giving the platform an edge over its competitors. He believes
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In a recent development, six Coinbase customers have taken legal action against the cryptocurrency exchange Coinbase Global and its subsidiaries, Coinbase, Inc. and Coinbase Asset Management, LLC. The lawsuit also names CEO Brian Armstrong as a defendant. The core allegation made by the plaintiffs is that the digital assets listed on Coinbase should be classified
The recent guilty plea from Alexander Vinnik, the Russian national behind the infamous crypto exchange BTC-e, has shed light on the dark underbelly of the cryptocurrency world. Vinnik, now facing the possibility of a two-decade prison sentence in the US, was responsible for facilitating illicit activities on a massive scale through BTC-e. The exchange processed
Coinbase has reported an impressive revenue of $1.64 billion in the first quarter, surpassing the expected amount of $1.34 billion. This surge in revenue comes at a time when the crypto market is being greatly influenced by a strong Bitcoin rally. The company’s earnings per share stood at $4.40, showing a significant improvement from the
The recent saga involving former Binance CEO Changpeng Zhao sheds light on a crucial aspect of the crypto industry – compliance. In the wake of his sentencing for violating US compliance rules, Zhao emphasized the need for adherence to regulations in the industry. This signals a shift towards a new phase where compliance is considered
The former CEO and co-founder of Binance, Changpeng ‘CZ’ Zhao, recently submitted a letter of apology to the court on April 24. In the letter, Zhao expressed regret for his past decisions and admitted to accepting full responsibility for his actions. This admission of guilt comes after earlier criminal charges that Zhao pleaded guilty to
FTX creditors who have been impacted by the collapse of the defunct exchange have a unique opportunity to participate in the bankruptcy estate’s planned auction of its remaining Solana token holdings. This auction presents a chance for retail investors to get involved in the process with a minimum investment of $5000, a significantly lower barrier
The recent arrest of Nadeem Anjarwalla, a Binance executive, in Kenya has set off a chain of events involving various law enforcement agencies from both Kenya and Nigeria. Anjarwalla is facing extradition to Nigeria on charges related to tax evasion, illegal passport use, and escape from custody. Anjarwalla, along with another executive, Tigran Gambrayan, found
Recently, crypto exchange HashKey announced its intention to stop supporting transactions related to Binance, a popular cryptocurrency exchange. The decision, made public on April 19, entails restrictions on deposits from Binance starting May 10 and a complete end to support for virtual asset withdrawals to Binance-hosted wallet addresses by May 17. Despite this, transactions involving
The recent bankruptcy of the FTX exchange has sent shockwaves throughout the cryptocurrency community. The exchange, once a promising player in the crypto market, has now emptied its FTT treasury account to a new wallet address on April 18. This move has raised eyebrows as it involved transferring a significant amount of assets from the
