Coinbase's credibility is once again put into question as it faces a $350-million lawsuit from a global blockchain-based software for allegedly infringing the latter's intellectual property.
Nikhil Wahi admitted that he received tips from his brother, who was a former product manager at Coinbase, about upcoming listings and made $1.4 million from them.
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.
The company cites the persisting price slump in the digital asset market with Rain's co-founder and CEO, noting that the volatility in the industry has resulted in "unfortunate changes."
The lawsuit further claimed that by locking users out of their accounts, Coinbase caused them financial harm, in addition to offering unregistered securities.
A trio of Australian researchers released a new study that sought evidence of “individuals using private information to buy coins prior to their listing announcement and profiting from the typical price surge that follows the announcement.”
Ethereum’s long-awaited transition to a proof-of-stake (PoS) blockchain has a new launch date but the shift may actually create more problems than it solves.
The Enforcement Directorate accuses WazirX of using an opaque management setup and poor KYC programs to allow exploitative loan apps to launder millions between India and China.
BSV thought leader Joshua Henslee paints a picture of utter carnage in the digital currency industry with the recent crackdowns on popular exchanges, lending platforms, and other companies.
In a suit filed in Delaware on August 4, Donald Kocher accused former and current Coinbase officers of "breaches of fiduciary duties, unjust enrichment, abuse of control and gross mismanagement."
Coinbase lost over $1 billion in the second quarter while warning investors that the digital currency exchange expects this current ‘crypto winter’ to be a multi-year affair.