Coinbase UK faces a $4.5 million fine for inadequate onboarding of high-risk customers, highlighting potential regulatory shifts for crypto exchanges and the need for enhanced compliance measures.
Ex-Coinbase employees launched NPC Labs, raising $21M for gaming on the Base blockchain, led by Pantera Capital. This venture aims to integrate blockchain for true ownership of in-game assets.
The UK’s FCA has fined CB Payments Limited, a division of @coinbase, £3.5M for servicing 13,416 high-risk clients without proper licensing. The company facilitated $226M in transactions, highlighting the need for strict compliance in the crypto market. #CryptoRegulation #Update
.@Coinbase requests court order for SEC to disclose docs, including SEC Chair Gary Gensler’s emails since 2021. This follows SEC’s earlier denial; Coinbase stresses the need for a robust defense. Outcome may influence future crypto regulations. #CryptoNews #Update
Grayscale Investments moved 292,263 ETH ($1.01B) to Coinbase Prime ahead of the Ethereum-ETF launch on July 23, 2024. The ETF is expected to draw $1B monthly. Grayscale also introduced the Ethereum Mini Trust with 0% management fees for 6 months. #CryptoNews
Coinbase CLO Paul Grewal stresses the need for statute-backed crypto regulations in the US, critiquing the SEC’s approach. New legislative efforts like FIT21 signal potential change. #Crypto #Regulation
BlockFi will start compensating U.S. clients via @Coinbase in July 2024 after concluding bankruptcy proceedings. The delays were due to regulatory challenges. Partnerships with Three Arrows Capital and FTX resulted in settlements of $409M and $874.5M. #Crypto #Update
Judge denies Coinbase’s request to subpoena SEC Chair Gensler for testimony in ongoing legal case. Coinbase sought Gensler’s 2017-2024 correspondence, calling it crucial for SEC’s crypto stance. Judge Failla criticized the move as time-wasting, urging better dialogue. #CryptoRegulation #Update
Coinbase users report a surge in scams, with one user losing $1.7M after disclosing part of their seed phrase to fraudsters posing as Coinbase employees. This highlights the need for vigilance and stronger security in the crypto space. #CryptoSecurity #Update
? The U.S. Marshals Service partners with @Coinbase to manage and trade large-cap digital assets. This move highlights USMS’s commitment to secure crypto management and boosts market confidence. Coinbase Prime was chosen for its top-tier security. #CryptoNews #Update
Bitcoin whale moves 1000 BTC to @CoinbasePrime after 6 years of dormancy. Acquired in 2018 for ~$7000, now worth ~$61.7M. This continues the trend of dormant addresses reactivating, impacting $BTC’s market dynamics. #CryptoNews
.@Coinbase has filed a lawsuit against the @SECGov and @FDICgov for ignoring FOIA requests. The suit claims lack of transparency and inconsistent crypto regulations, highlighting the need for clear guidelines. This could significantly affect digital asset regulation. #CryptoRegulation
Coinbase launches Smart Wallet with FaceID, Google logins, and gasless transactions via Paymaster. Supports Ethereum, Polygon, BNB, and more. #Crypto #Updates @Coinbase
Coinbase-backed Base surpasses Arbitrum and Optimism in daily transactions, hitting 2.7M on June 4. With 31.37 TPS and $7.64B TVL, it’s leading the Ethereum layer-2 networks. #Crypto #Blockchain
