Coinbase has accused the SEC of attempting to evade established legal tests by overlooking the question of whether digital asset transactions that do not entail any post-sale obligations can be considered investment contracts. In a recent motion filed with the US District Court for the Southern District of New York, the exchange argued that the
Exchanges
Amidst rumors circulating on social media about Bybit crypto exchange’s alleged insolvency, CEO Ben Zhou has stepped forward to firmly deny these claims. The speculations began to surface this week, originating from obscure social media accounts. One user even suggested that a bug in a proof-of-reserves graph from Arkham Intelligence may have triggered the rumors.
The recent decision by the First District Court of Appeals in Florida to nullify an Emergency Suspension Order (ESO) issued by the Office of Financial Regulation against Binance.US has sparked discussions in the cryptocurrency community. Earlier this year, Florida’s regulator had banned Binance.US from serving its residents, citing immediate danger to the public as the
Recently, France’s financial regulator, Autorité des Marchés Financiers (AMF), issued a warning to French crypto investors regarding the trading platform Bybit. The AMF made it clear that Bybit is not authorized to provide its digital asset services in France, urging retail investors to be cautious. Bybit, launched in 2017, is currently the third-largest crypto exchange
The recent system-wide outage experienced by Coinbase left many customers frustrated and dissatisfied with the platform’s response. Despite claims of operations being resumed, a number of users took to social media to express their inability to withdraw funds. Nigel Dias, one such user, shared his experience of being unable to send his crypto assets due
The recent report by The Wall Street Journal regarding Binance, the world’s largest crypto exchange, has brought to light some concerning issues within the industry. The article alleges that the head of Binance’s market surveillance team was fired after raising concerns about potential market manipulation by a high-profile client. This raises serious questions about the
Coincheck, a well-known Japanese cryptocurrency exchange, is gearing up to become one of the two publicly listed exchanges in the United States. The company has announced its intention to list on the Nasdaq through a partnership with a special purpose acquisition company (SPAC) called Thunder Bridge Capital Partners IV (THCP). Upon completion of the merger,
The recent detention of Tigran Gambaryan, a US citizen and the head of Binance’s financial crime compliance department, in Nigeria has sparked outrage within the cryptocurrency community. Binance CEO Richard Teng has publicly called for Gambaryan’s release, stating that the detention was unjust and set a dangerous precedent. According to Teng, inviting a company’s employees
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
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
