Browsing: Coinbase News

Coinbase’s latest move sees the discontinuation of pUSDC withdrawals on Polygon, yet users retain the ability to deposit and withdraw USDC. This shift underscores evolving strategies in the cryptocurrency market. In a significant development in the world of cryptocurrency, Coinbase, one of the leading cryptocurrency exchange platforms, has announced that it will no longer support the withdrawal of pUSDC, the wrapped version of the USDC (USD Coin) on the Polygon network. This decision comes as part of a strategic shift in Coinbase’s support for various digital assets, and it takes effect immediately. Despite this change, users will still have the…

The legal battle between the United States Securities and Exchange Commission (SEC) and leading cryptocurrency exchange Coinbase has taken a significant step forward, as Judge Katherine Polk Failla has approved a joint request from both parties to proceed with the scheduling of hearings. This development comes after weeks of anticipation surrounding the SEC’s lawsuit against exchange. In a tweet on July 24, Coinbase’s Chief Legal Officer, Paul Grewal, announced that Judge Failla had given the green light for the submission of opening briefs and subsequent responses. The judge issued a scheduling order for Coinbase’s Rule 12(c) motion for judgment on…

Coinbase executives cash out, leaving investors eager to gauge COIN’s response. Four top executives at Coinbase, the American cryptocurrency giant, have reportedly sold significant amounts of company stock, including CEO Brian Armstrong. This development comes at a time when Coinbase is navigating regulatory scrutiny and facing stagnant trading volumes in the cryptocurrency market. The stock sales made by Coinbase executives were disclosed in filings submitted to the U.S. Securities and Exchange Commission (SEC) through Form 4. The filings shed light on the transactions carried out by executives such as Chief Legal Officer Paul Grewal, Chief Accounting Officer Jonnes Jennifer N.,…

Coinbase’s Supreme Court win enables temporary halt of customer lawsuits, private arbitration, and sets precedent for other cases, impacting crypto industry amid SEC regulatory challenges. The US Supreme Court has granted Coinbase’s request to temporarily halt customer lawsuits while it pursues appeals to move the disputes into private arbitration instead of court. In a ruling on Friday, five out of nine Justices supported Coinbase’s request, overturning a previous decision by a lower court involving a user who sued the company after falling victim to a scam. Justice Brett Kavanaugh, speaking on behalf of the court, stated that the district court…

In a bold move, leading cryptocurrency exchange Coinbase has responded to the Securities and Exchange Commission’s (SEC) recent reply, dismissing any further delays as futile. The SEC, in its response to Coinbase’s rulemaking petition, revealed that it is yet to determine its course of action regarding the exchange. Coinbase’s Chief Legal Officer, Paul Grewal, took to Twitter to share the company’s official response, emphasizing the urgency of the situation. Grewal expressed concern over the SEC’s evasive response and questioned the agency’s refusal to answer a direct question from a federal court. He asserted that the exchange couldn’t wait until the…

Former SEC Chief delivers scathing criticism of Coinbase, claiming their security defense crosses the line into criminality. In a significant development, John Reed Stark, the former Chief of the SEC Office of Internet Enforcement, has criticized Coinbase Global Inc, the American publicly traded exchange, for its defense strategy in response to the charges brought against it by the Securities and Exchange Commission (SEC). Stark finds fault with Coinbase’s argument that the SEC’s approval of its Initial Public Offering (IPO) in 2021 signifies the regulator’s comprehensive understanding of the company’s operations. According to Stark, this line of reasoning is fundamentally flawed.…

In a surprising move amid increased regulatory scrutiny on the crypto market ecosystem in the United States, Hong Kong Legislative Council member Johnny Ng has extended an invitation to global virtual asset trading operators, including Coinbase, to establish their presence in the region. This development follows the U.S. Securities and Exchange Commission (SEC) targeting Coinbase, one of the leading U.S.-based crypto exchanges, with charges of violating securities laws in the country. However, arguments have surfaced suggesting that the SEC was already aware of the operations when it approved Coinbase’s initial public offering (IPO) back in 2019. It is worth noting…