Tag: Coinbase

Coinbase presses to axe rule banning SEC staff from holding crypto

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Coinbase has urged the US Office of Government Ethics to remove a rule banning Securities and Exchange Commission staff from holding crypto. SEC staff need to use crypto to better understand how it works and the best way to regulate it, Coinbase chief legal officer Paul Grewal argued in open letters sent to OGE acting director Jamieson Greer and newly sworn-in SEC Chair Paul Atkins, which he shared to X on April 25. “To regulate technology, you need to understand it. To understand technology, you need to use it,” Grewal…

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Coinbase in talks to buy derivatives exchange Deribit: Report

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Coinbase is in advanced talks to buy Deribit, a cryptocurrency derivatives exchange, according to a March 21 report by Bloomberg. Acquiring Deribit — the world’s largest venue for trading Bitcoin (BTC) and Ether (ETH) options — would bolster Coinbase’s existing derivatives platform, which currently focuses on futures.  Coinbase and Deribit have reportedly alerted regulators in Dubai to the deal talks. Deribit holds a license in Dubai, which would need to be transferred to Coinbase if a deal goes through, according to Bloomberg, which cited unnamed sources.  In January, Bloomberg reported…

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83% of institutions plan to up crypto allocations in 2025: Coinbase

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Institutional investors are increasingly bullish on cryptocurrency, with 83% saying they plan to up crypto allocations in 2025, according to a March 18 report by Coinbase and EY-Parthenon.  Already, nearly three-quarters of firms surveyed said they hold cryptocurrencies other than Bitcoin (BTC) and Ether (ETH), and a “significant majority” said they plan to boost crypto allocations to 5% or more of their portfolios, the report said.  They are motivated by the view that “cryptocurrencies represent the best opportunity to generate attractive risk-adjusted returns over the next three years,” according to the…

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Coinbase Is Embarrassing Itself By Not Buying Bitcoin

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Really, at this point, Coinbase is just embarrassing itself by not buying Bitcoin and doing silly buybacks. Coinbase just had a bad quarter. After reporting disappointing Q3 earnings, its stock plunged over 10%. To instill confidence, Coinbase announced a $1 billion share buyback. But that flopped, too, with shares barely budging. This whole debacle just shows that Coinbase is foolishly ignoring the obvious strategy here — buying bitcoin. Instead of share buybacks, imagine if Coinbase put $1 billion into bitcoin for its corporate reserves. That would have sent a real…

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Emory University Holds Over $16M in Bitcoin ETFs and Coinbase Shares

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Emory University has disclosed ownership of over $15 million in shares of the Grayscale Bitcoin Mini Trust, according to a recent filing with the U.S. Securities and Exchange Commission. This announcement marks Emory as the first American endowment to publicly report exposure to bitcoin. In addition to its bitcoin investment, Emory holds 4,312 shares of […] Source link

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56% of Fortune 500 Firms Pursue Crypto and Blockchain Projects, Says Coinbase

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A Coinbase report reveals that cryptocurrency and blockchain initiatives among Fortune 100 companies rose by 39% year-over-year, reaching a record high in Q1 2024. In addition, 56% of Fortune 500 companies are working on onchain projects. The report emphasizes the need for clear crypto regulations to retain talent and enhance U.S. leadership in crypto technology. […] Source link

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Voyager’s token transfer to Coinbase sparks sell-off suspicions

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Bankrupt cryptocurrency lender Voyager Digital transferred 1,500 Ether (ETH), worth around $2.77 million and an additional 250 billion Shiba Inu (SHIB), worth roughly $2.7 million, to crypto exchange Coinbase on Aug.11, according to Etherscan. The motive behind the transactions has triggered speculation within the broader crypto community. One theory suggests a probable sell-off, given that the transfers have diminished the distressed crypto lender’s wallet holdings to $81.63 million of digital assets. The transactions occurred at one-hour intervals, according to Etherscan. The abrupt movement of the tokens has triggered discussions regarding…

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Coinbase begins $150M debt buyback at 36% discount

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Cryptocurrency exchange Coinbase will begin buying back up to $150 million of its 2031 senior notes for 64.5 cents on the dollar, a discount of 35.5%. According to the Aug. 7 announcement, the tender offer will last until Sept. 1, with an early premium of three cents on the dollar on top of the regular purchase price. The 2031 senior notes have a coupon rate of 3.625% per annum and a total principal balance of $1 billion. Last month, the exchange redeemed $65 million in convertible notes at a discount…

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‘The SEC has violated due process’ — Coinbase CLO on motion to dismiss lawsuit

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United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June. In an Aug. 4 filing with U.S. District Court for the Southern District of New York, lawyers for Coinbase filed a motion for judgment, claiming the SEC had “violated due process, abused its discretion, and abandoned its own earlier interpretations of the securities laws” in asserting certain regulatory authority over the crypto exchange. The legal team cited precedent from the SEC v. Ripple case, in which a…

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BlackRock Nears Filing Bitcoin ETF Application, Leveraging Coinbase Custody

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BlackRock, the worlds largest asset manager, is reportedly on the brink of submitting an application for a Bitcoin ETF (exchange-traded fund), as disclosed by a reliable source familiar with the matter.  In their pursuit of a Bitcoin ETF, BlackRock has chosen Coinbase Custody as their trusted custodial solution. Moreover, the asset manager will rely on Coinbase’s spot market data to ensure accurate and reliable pricing for the ETF. Coinbase and BlackRock have so far refrained from providing any official comments on the matter. While the specifics of the upcoming ETF…

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