Crypto community split on Coinbase NFT’s push for ‘sensible crypto policy’

As crypto exchange Coinbase makes a push toward a sensible regulatory environment for the crypto space, the exchange launched a nonfungible token (NFT) collection to gain the community’s support. However, not everyone is excited about the move, with some not even sure if it will have any impact at all.  On April 25, Coinbase launched an NFT campaign dubbed “Stand With Crypto” after filing a court action that aims to compel the United States Securities and Exchange Commission (SEC) to answer its rulemaking petition. According to Coinbase, the NFTs represent…

Celsius auction has Gemini and Coinbase as new bidders: Report

Two new consortiums will dispute the assets of bankrupt crypto lender Celsius Network in an auction scheduled for April 25 in New York. According to reports and court filings, crypto exchanges Gemini and Coinbase are among the companies participating in the bids.  Court documents show that one of the consortiums is Fahrenheit, backed by venture capital firm Arrington Capital, which is owned by blockchain investor Michael Arrington. Other participants in the consortium are Proof Group Capital Management, former Algorand CEO Steven Kokinos and investment banker Ravi Kaza. Arrington mentioned that Coinbase…

Coinbase wins $470K restitution in insider trading case

The brother of a former Coinbase employee has agreed to pay the cryptocurrency exchange nearly $470,000 for his role in an insider trading scheme. According to a New York District Court filing signed on April 6 and made public on April 10, Nikhil Wahi — brother of former Coinbase product manager Ishan Wahi — will be required to begin making restitution payments while serving time in prison in what is believed to be the first insider trading case involving crypto. The amount must be paid in full within 20 years…

SEC targets Coinbase, Do Kwon arrested, FTX’s $95M in Mysten…

Top Stories This Week Coinbase could face SEC enforcement action for ‘potential violations of securities law’ Crypto exchange Coinbase received a Wells notice from the United States Securities and Exchange Commission (SEC) suggesting an upcoming enforcement action. According to Coinbase, the “legal threat” could potentially target its staking program, listed digital assets, wallet or Coinbase Prime services. The exchange’s chief legal officer, Paul Grewal, said the warning “comes after Coinbase provided multiple proposals to the SEC about registration over the course of months, all of which the SEC ultimately refused…

Cathie Wood’s ARK sells Coinbase stock for the first time in 2023

Cathie Wood’s investment management firm ARK Invest is moving to take profits from its Coinbase stash, selling the first batch of Coinbase stock this year. On March 21, ARK sold 160,887 Coinbase shares from its ARK Fintech Innovation exchange-traded fund (ARKF) for $13.5 million, according to an investor notification seen by Cointelegraph. The transaction became ARK’s first sale of Coinbase stock in 2023, following three months of active buying in 2023. The sold amount accounts for 23% of all Coinbase stock acquired by ARK so far in March and about…

Coinbase teams up with Brazilian central bank’s Pix to offer expanded services

Coinbase is expanding its services in Brazil through partnerships with local services, the company announced March 21. Round-the-clock customer support in Portuguese and easier onboarding are among its upgrades. Coinbase has inked deals with Brazilian payment solutions provider Ebanx and Pix, the instant payment app operated by the Central Bank of Brazil. The new partnerships will make it easier to purchase crypto using the Brazilian real, as well as enable deposits and withdrawals from Coinbase accounts in real. Brazilians will also have easier access to opening a Coinbase account.  Coinbase has…

Voyager Digital Sells Assets via Coinbase Amid Bankruptcy

Voyager Digital, the New York-based centralized finance (CeFi) platform, filed for Chapter 11 bankruptcy in July 2022 after it failed to secure a new line of credit. The company, which provides cryptocurrency trading services for retail and institutional investors, had been struggling with mounting debt and declining user growth. Since then, Voyager has been seeking ways to raise capital and pay off its creditors. According to recent reports, the company has turned to Coinbase, one of the largest cryptocurrency exchanges in the world, to sell off some of its assets…

Voyager is selling crypto assets through Coinbase, suggests on-chain data

Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 bankruptcy in July 2022, is reportedly selling assets through the Coinbase crypto exchange. On-chain data suggest that Voyager received at least $100 million in USD Coin (USDC) in three days, starting Feb. 24. Since Valentine’s Day, Feb. 14, Voyager has sent crypto assets to Coinbase on an almost daily basis, alleges on-chain analyst Lookonchain. The investigation shows that Voyager transferred millions of dollars using a mixed bag of cryptocurrency tokens, including Ether (ETH), Shiba Inu (SHIB) and Chainlink…