Coinbase frets as US pols seek new weapons to fight ‘crypto’ terror financing
Digital asset exchange Coinbase issued a blog post on October 17 emphasizing its commitment to “rooting out bad actors seeking to use crypto for illicit purposes.”
Digital asset exchange Coinbase issued a blog post on October 17 emphasizing its commitment to “rooting out bad actors seeking to use crypto for illicit purposes.”
Coinbase is trying to rally support for reducing regulatory oversight of its operations, even as U.S. regulators warn that additional oversight is in the mail.
In a desperate attempt to revive its revenue, Circle returned its stablecoin to Coinbase's Base blockchain, a so-called "decentralized" network whose reputation is marred by technological woes.
Coinbase's Base hit 16 transactions per second earlier in August, a number inferior to what a blockchain could do and not even close to BSV's 128M transactions in a 24-hour period in the same month.
Circle assumes "direct accountability" for USDC following the dissolution of the Centre consortium as a stand-alone entity, with plans to debut the stablecoin to six new blockchains.
Circle's Dante Disparte takes a swipe against Tether over the latter's "unsafe, opaque" operations, while Coinbase seemingly resorts to unethical moves in an attempt to save its plummeting revenue.
Coinbase generated revenue of $707.9 million in the three months ending June 30, a 12.5% decline from the same period last year and 8.3% below the first quarter of 2023.
Coinbase CEO Brian Armstrong slams the securities regulator for asking the exchange to halt trading, excluding Bitcoin, saying that doing so would "end the crypto industry in the U.S."
The U.S. Securities and Exchange Commission delivered its latest filing to the federal court overseeing its civil charges against Coinbase for listing and offering unregistered securities to the public.
The U.S. securities regulator believes the flurry of ETF applications it has received in recent weeks are “inadequate” and thus not likely to receive the regulator’s stamp of approval, the Wall Street Journal reported.
Coinbase customers are complaining about their accounts being closed without any explanation; complaints include quotes from Coinbase that refuse to divulge the justification behind the closures.
The Wall Street Journal recently released a video interview with Brian Armstrong the day after the U.S. Securities and Exchange Commission filed a lawsuit accusing Coinbase of operating an unregistered securities exchange, broker and clearing agency.