Tag: Coinbase

Coinbase CEO Brian Armstrong faces shareholder lawsuit over compliance failures and disclosures

admin

Brian Armstrong and several of Coinbase’s most senior leaders are now defendants in a shareholder derivative lawsuit that accuses them of issuing misleading statements about how the exchange safeguarded customer assets, vetted token listings, and maintained anti-money laundering programs. The complaint, filed March 3 in the US District Court for the District of New Jersey, covers a period from April 2021 through June 2023 — years during which the company went public, grew into the dominant US exchange, and attracted a cascade of regulatory actions. The suit was brought by…

Ripple expands institutional futures access through Coinbase Derivatives

admin

Ripple and Nodal Clear announced that clients using Ripple Prime can now access the full suite of Coinbase Derivatives futures contracts through Nodal Clear’s clearing infrastructure. The integration allows institutional traders on Ripple Prime to trade regulated crypto futures listed on Coinbase Derivatives, including nano Bitcoin and nano Ether contracts as well as futures tied to Solana and XRP. Access to the derivatives products is enabled through Ripple Prime, the prime brokerage platform created after Ripple acquired futures commission merchant Hidden Road Partners CIV US LLC. The platform provides multi-asset…

Coinbase Executives Face Shareholder Lawsuit over Compliance Failures

admin

A Coinbase shareholder filed a derivative lawsuit against several of the crypto exchange’s top executives and board members, accusing them of failing to oversee compliance and disclosures and exposing the company to legal and regulatory fallout. The complaint was filed Tuesday in the US District Court for the District of New Jersey and was brought by shareholder Kevin Meehan on behalf of Coinbase Global. It names CEO Brian Armstrong, co-founder Fred Ehrsam, and several current and former directors and senior executives, including chief legal officer Paul Grewal and chief financial…

Coinbase Helps Dismantle Major Phishing Platform

admin

A coalition of tech companies and law enforcement, including Coinbase, has dismantled the core infrastructure of Tycoon 2FA, a major phishing-as-a-service platform that offered tools to bypass multi-factor authentication. Europol announced Wednesday that Microsoft helped block 330 domains linked to the platform, while law enforcement seized additional key infrastructure. Financial tracing was also a key aspect. Coinbase said it assisted by tracing blockchain-related transactions funding Tycoon 2FA, which helped identify the phishing platform’s alleged administrator and buyers. “Taking Tycoon’s core infrastructure offline cuts off a major pipeline for credential theft…

Morgan Stanley Selects BNY, Coinbase As Custodians for BTC ETF

admin

Financial services giant Morgan Stanley selected Bank of New York (BNY) Mellon, a global financial services company, and crypto exchange Coinbase as custodians for its Bitcoin Trust Exchange-Traded Fund (ETF), according to a filing with the US Securities and Exchange Commission (SEC) on Wednesday. The custodians will hold all of the fund’s Bitcoin (BTC) in cold storage, or offline methods of storing Bitcoin private keys, with a “portion” of the BTC moving to hot wallets connected to the internet at times for creation and redemption purposes, according to the SEC…

UK Lords Press Coinbase on Stablecoins, KYC and Bank‑Run Risks

admin

The United Kingdom House of Lords grilled Coinbase’s top international policy executive on Wednesday over whether stablecoins would drain bank deposits and add new risks to the UK financial system, pressing him on everything from Silicon Valley Bank‑style runs to illicit finance and Know Your Customer (KYC) rules.  During the Lords’ stablecoins inquiry, Tom Duff Gordon, Coinbase’s vice president for international policy, insisted that fully reserved, regulated stablecoins were “safer than uninsured bank deposits” because they are backed one‑to‑one by cash and high‑quality government securities and can be redeemed at…

Trump held private meeting with Coinbase CEO Brian Armstrong before urging banks to support crypto bill

admin

A delegation from Coinbase, led by CEO Brian Armstrong, was at the White House on Tuesday, according to Crypto in America’s Eleanor Terrett. The visit was reported hours after President Donald Trump issued a statement on Truth Social, urging banks to make a deal with crypto firms over the key crypto market structure bill. It was confirmed by Politico that Trump had held a closed-door meeting with Armstrong before making his public comments. In his remarks, Trump criticized banks for standing in the way of pro-crypto bills such as the…

Keone Hon: Monad’s blockchain launch achieved fast transactions and positive user feedback, strategic decisions set it apart, and first token sale on Coinbase marks a milestone

admin

Monad’s innovative launch strategy sets a new standard in blockchain with a record-breaking token sale. Key Takeaways Monad’s blockchain launch was successful, with fast transaction processing and positive user feedback. The decision to skip an ecosystem-wide pre-deposit campaign was strategic and set Monad apart from other projects. Monad was the first to conduct a token sale on Coinbase’s new platform, marking a significant milestone. Thorough preparation and audits ensured Monad’s mainnet was ready for public launch. Exchanges operate as businesses within the crypto ecosystem, facilitating token trading. Monad’s launch strategy…

REX Shares Launches New ETF with Exposure to Coinbase and Strategy

admin

US-based asset manager REX Shares has launched an exchange-traded fund that bundles leveraged covered-call strategies tied to nine individual stocks, including crypto-linked names Coinbase and Strategy, into a single income-focused product trading under the ticker GIF. According to Thursday’s announcement, the fund holds equal-weighted positions in REX’s existing single-stock Growth & Income ETFs, each of which targets about 1.25x exposure to its underlying equity while writing covered calls on a portion of the portfolio to generate option premium income. GIF trades on Cboe Global Markets and each underlying ETF seeks…

Coinbase Opens Commission-Free Stock and ETF Trading to All US Users

admin

Coinbase has opened stock and exchange-traded fund trading to all US users, allowing customers to buy and sell equities alongside crypto within the same app on a 24/5 basis. The rollout includes commission-free trading, fractional shares, and instant funding with USD or USDC.  According to a company post on Tuesday, thousands of stocks are available to trade 24 hours a day, five days a week, with approximately 6,000 securities currently supported and plans to expand that number in the coming weeks. Coinbase said it aims to introduce stock perpetual futures…