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John Kiff

Coinbase wants to identify Bitcoin users for DEA, IRS - 0 views

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    Coinbase aims to sell its Coinbase Analytics services, including its "identity attribution" software, to the U.S Drug Enforcement Administration and the Infernal Revenue Service. Coinbase Analytics uses technology from Neutrino, a blockchain analysis startup that Coinbase acquired last year. Coinbase uses the product internally for compliance and global investigations. However, Coinbase Analytics data is fully sourced from online, publicly-available data, and does not include any personally-identifiable information for anyone, regardless of whether or not they use Coinbase.
John Kiff

Coinbase warned by SEC of potential securities charges - 0 views

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    The U.S. Securities and Exchange Commission (SEC) issued Coinbase a Wells notice, warning that it identified potential violations of U.S. securities law. Based on discussions with the SEC staff, Coinbase believes they relate to aspects of the Company's spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet, and the potential civil action may seek injunctive relief, disgorgement, and civil penalties. https://www.coinbase.com/blog/we-asked-the-sec-for-reasonable-crypto-rules-for-americans-we-got-legal
John Kiff

Coinbase Files Legal Action Against SEC Over Lack of Regulatory Clarity - 0 views

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    Crypto platform Coinbase has filed a court action to press the U.S. Securities and Exchange Commission (SEC) about its July 2022 petition requesting regulatory guidance. Coinbase chief legal officer Paul Grewal said, "from the SEC's public statements and enforcement activity in the crypto industry, it seems like the SEC has already made up its mind to deny our petition. But they haven't told the public yet. So the action Coinbase filed today simply asks the court to ask the SEC to share its decision... which they are legally obligated to do." https://www.coinbase.com/blog/coinbase-takes-another-formal-step-to-seek-regulatory-clarity-from-sec-for
John Kiff

Coinbase To Begin Trading April 14 With Direct Listing on Nasdaq - 0 views

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    Coinbase is planning to make its trading debut on April 14 on the NASDAQ Stock Market, after the U.S. Securities and Exchange Commission declared effective the company's registration statement for the listing. Coinbase is planning to go public through a direct listing in which it will not raise any new capital. It was valued at about $90 billion in its final week of trading on Nasdaq's private market. https://blog.coinbase.com/coinbase-announces-effectiveness-of-registration-statement-and-anticipated-listing-date-of-its-1509b281f760
John Kiff

Coinbase Launches 'Get Paid in Crypto' Direct Deposit - Decrypt - 0 views

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    In the next few weeks, Coinbase will roll out a feature that allows US customers to deposit their paycheck into Coinbase to more easily make regular crypto trades, spend on Coinbase Card, and earn crypto rewards. Coinbase users can select which cryptocurrency they would like their paycheck to be converted to, or keep the sum denominated in U.S. dollars. The crypto options include Bitcoin, Ethereum, the U.S.-dollar pegged USD Coin, or any of the more than 100 coins on the platform.
John Kiff

Coinbase wins approval to offer crypto futures trading in US - 0 views

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    Coinbase has secured approval by the National Futures Association (NFA), a self-regulatory organization designated by the Commodity Futures Trading Commission (CFTC), to offer crypto futures to U.S. retail customers. The approval makes Coinbase the first crypto-focused platform in the U.S. to offer regulated and leveraged crypto futures alongside traditional spot trading, according to its announcement. https://www.coinbase.com/blog/coinbase-financial-markets-inc-secures-fcm-approval-to-bring-regulated
John Kiff

SEC Sues Coinbase on Unregistered Securities Exchange Allegations - 0 views

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    The U.S. Securities and Exchange Commission (SEC) sued Coinbase on allegations of violating federal securities law, a day after filling a similar suit against Binance. According to the SEC, Coinbase has operated as an unregistered broker, exchange and clearing agency simultaneously, arguing that it solicited customers, handled orders, allowed for bids and acted as an intermediary all at once. "The Coinbase Platform merges three functions that are typically separated in traditional securities markets - those of brokers, exchanges, and clearing agencies... Yet, Coinbase has never registered with the SEC as a broker, national securities exchange, or clearing agency, thus evading the disclosure regime that Congress has established for our securities markets." https://www.sec.gov/news/press-release/2023-102
John Kiff

Coinbase Launches International Exchange with Bitcoin and Ethereum Perpetual Futures - 0 views

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    The Bermuda-based Coinbase International Exchange launched following regulatory approval from the Bermuda Monetary Authority (BMA). It will initially offer Bitcoin and Ethereum perpetual futures settled in USD Coin (USDC) only to qualified institutional clients outside of the United States through an application Programming interface (API). According to Coinbase, perpetual futures accounted for nearly 75% of global crypto trading volume in 2022, and Coinbase's offerings will allow leverage of up to 5x. https://www.coinbase.com/blog/introducing-coinbase-international-exchange
John Kiff

Coinbase selected by BlackRock to provide Aladdin clients access to crypto trading and ... - 0 views

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    Investment manager BlackRock has formed a partnership with Coinbase to make crypto-assets directly available to institutional investors. Mutual customers of Coinbase and BlackRock's investment management platform. The access will be granted through Coinbase Prime, an existing integrated trading platform for institutional crypto investors. Aladdin users will be able allow to manage their crypto-asset exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes. The platform integration and functions will be rolled in phases.
John Kiff

Coinbase rolls out crypto transfers via links sent on WhatsApp, Telegram - 0 views

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    Coinbase Wallet now allows for the transfer of crypto through a link that can be sent through popular social media sites and messaging apps apps like iMessage, Telegram, WhatsApp, Facebook, Instagram and TikTok. And there are no payment fee when sending USD Coin (USDC). Clicking the link will take the recipient to their device's app store to download Coinbase Wallet - if not already downloaded - where they can create a wallet in one click. If the funds aren't claimed within two weeks, they will be returned to the sender. There appear to be no transaction-size limits. https://www.coinbase.com/blog/with-coinbase-wallet-sending-money-is-now-as-easy-as-sending-a-text
John Kiff

Coinbase will suspend trading in XRP on January 19 - 0 views

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    Coinbase will suspend the XRP trading pairs on its platform. Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time. The trading suspension will not affect customers' access to XRP wallets which will remain available for deposit and withdraw functionality after the trading suspension. Further, customers will remain eligible for the previously announced Spark airdrop (subject to approval in certain jurisdictions), and it will continue to support XRP on Coinbase Custody and Coinbase Wallet.
John Kiff

Coinbase becomes a Visa principal member - 0 views

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    Coinbase has become the first pure-play crypto company to be approved as a Visa principal member. Coinbase launched its Visa debit card in 2019 allows users to spend cryptocurrency as cash anywhere Visa is accepted. It is available in 29 markets with 10 cryptocurrencies supported. As a principal members of Visa Coinbase could issue cards to other crypto companies, though it's not clear if it plans to use that power immediately.
John Kiff

Bitcoin's Coinbase premium turned negative. Here's what it means for BTC price - 0 views

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    Coinbase has become a major bellwether for Bitcoin demand due to its popularity among large, institutional buyers. These market participants acquire their BTC via over-the-counter markets on Coinbase Pro. Although these large purchases don't immediately impact the BTC price, they signify growing demand for the digital asset and, in turn, diminishing supply. The Coinbase Premium Index, therefore, is one way to gauge institutional demand for BTC in the short term.
John Kiff

Coinbase announces filing of registration statement for proposed public direct listing ... - 0 views

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    Coinbase has publicly filed an S-1 outlining its plans to complete an initial public offering (IPO) on the NASDAQ. Accrording to the filing, Coinbase intends to raise up to $1 billion and trade under the ticker symbol of "COIN." https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm#i86a9d9b35e45447ea6eb369e5dcf1e6a_34
John Kiff

Coinbase Repeats Pattern of Shutting Down When Bitcoin Gets Volatile - 0 views

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    Coinbase has gone offline four times in the last three months during major Bitcoin (BTC) price moves and furious users unable to access their portfolios are demanding answers. On June 1, when Bitcoin rallied from the $9,600s to $10,380 in less than an hour, Coinbase users trying to access their portfolio were met with a message that the site is "temporarily available." @CryptoWhale posted a chart on Twitter shortly after the recent outage, speculating that Coinbase had a built-in algorithm to automatically shut it down anytime there was a BTC price movement over $500.
John Kiff

Further Thoughts on Coinbase: Two Mysteries - 0 views

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    "I've been puzzling over two mysteries in the Coinbase saga:  first, why does Coinbase care so much if Lend is deemed a security, and second, why did the SEC want the list of Coinbase customers who had signed up in advance for Lend. I don't know that I've got all of this sussed out, but I figure I'll put my thinking out into the Internets and see if others have thoughts."
John Kiff

Coinbase: "What if we call them rewards instead of interest payments?" - 0 views

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    "Coinbase isn't a bank, nor is it an SEC-approved money market mutual fund. And unlike Wise and PayPal, Coinbase's interest payments aren't powered under the hood by a bank. So how does Coinbase pull this off? In short, Coinbase seems to have seized on a third-path to paying interest. It cleverly describes the ability to receive interest as a "loyalty program", which puts it in the same bucket as Starbucks Rewards or Delta's air miles program. The program itself is dubbed USDC Rewards, and in its FAQ, customers are consistently described as "earning rewards" rather than "earning interest." "
John Kiff

Binance Stalls Coinbase Stock Token Listing Due to 'Market Volatility' - 0 views

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    Just hours after announcing it would offer a tokenized version of Coinbase stock for trading, leading crypto exchange Binance has postponed the listing "due to market volatility." Binance was set to list the Coinbase Stock Token (COIN) to be backed by actual Coinbase stock ($COIN), which began selling publicly on Nasdaq on April 14.
John Kiff

Coinbase lists tether, the world's dodgiest stablecoin - 0 views

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    "Coinbase... [will be] listing tether (USDT), the world's dodgiest stablecoin. Tethers... are a stand-in for real dollars, used mainly on offshore crypto exchanges that can't get proper banking... Coinbase only supports ERC-20 USDT, a reference to the nearly 24 billion tethers that live on the Ethereum blockchain. (Another 26 billion are on Tron, with a smattering on Omni, Algorand, EOS, Liquid, SLP, and Solana.) At the moment, you can only transfer USDT onto Coinbase; you cannot move tethers off the exchange."
John Kiff

Coinbase Saw a 17% Jump in Law Enforcement Requests in 2020 - 0 views

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    Coinbase published its Transparency Report showing that it received 4,227 requests for customer data in 2020 from U.S. authorities and law enforcement agencies deom around the world, and that the pace of requests is increasing. The U.S. agencies ranged from the FBI and Drug Enforcement Agency to the country's tax collector, the IRS, and the Food and Drug Administration. https://blog.coinbase.com/coinbase-transparency-report-h2-2020-b8ef1632c4dc
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