Citing "unresolved issues" tied to its relationship with Binance, the NYDFS ordered Paxos to halt the minting of BUSD while users have until February 2024 to redeem their stablecoins.
The U.S. securities regulator announced that two Kraken entities had agreed to "cease offering or selling securities through crypto asset staking services" and pay $30 million in penalties.
A digital currency rumor on Twitter speculating that the SEC would ban staking for retail speculators in the U.S. rocked Coinbase CEO Brian Armstrong, ranting another rant of spewing misinformation.
The U.S. Securities and Exchange Commission appears to have the Coinbase and Kraken digital asset exchanges squarely in its sights for dealing in unregistered securities.
Ex-Coinbase staffer Ishan Wahi pleaded guilty to two counts of conspiracy to commit wire fraud. He, together with his brother Nikhil and Sameer Ramani, were charged with insider trading in July 2022.
Coinbase has until March 2 to object to the fine, but the company has already said it believes the fine to be unjust, given how long it took the exchange to obtain Dutch registration.
New filings in the FTX bankruptcy case have revealed the full list of investors, and among Tom Brady and Gisele Bundchen sits Coinbase, which holds the bag on millions of FTX shares.
The cuts amount to 950 people, on top of the 1,100 Coinbase cut back in June; its CEO Brian Armstrong says the layoffs are part of a plan to cut operating expenses by 25%.
Coinbase is slamming bankrupt rival digital asset exchange FTX’s accounting practices, Apple’s NFT policies, and any other bad news, while Circle plans to go public.
The lone bright spot on Coinbase’s subscription and services chart was interest income, which shot up 213% to $101.8 million, thanks largely to the U.S. Federal Reserve hiking its lending rates.
Coinbase and Google partners for a new platform centered on expanding "crypto" services and building Web3, which comes after the former was granted an in-principle license approval by Singapore.
Coinbase's Chief Legal Officer Paul Grewal said the sanctions "set a dangerous precedent" and claims it will have a chilling effect on software development.
