☄️Coinbase is suing the SEC and the Federal Deposit Insurance Corporation (FDIC)

It's all due to attempts to "cut off" the crypto industry from the banking sector. Regulators have failed to comply with the requirements of the Freedom of Information Act. Specifically, it concerns past requests related to Ethereum and the regulator's interpretation of the asset.

#coinbase #sec #eth

😳 Genesis Trading has transferred 12,000 BTC ($760 million) to Coinbase over the past month

The company itself is now in bankruptcy proceedings and owns 33,300 BTC ($1.91bn) as well as 118,000 ETH ($363m).

#Genesis #Coinbase

🇬🇧UK regulator fined Coinbase $4,500,000

The reason - ‘the exchange attracts high-risk customers’.

And that's 13,416 so-called ‘high risk’ customers who conducted transactions totalling about $226 million.

#coinbase

💸 Coinbase's revenue in the second quarter of 2024 was $1.45bn

At the same time, the company's net income fell to $36 million, down from nearly $1.2 billion in the first quarter.

The exchange's revenue from transaction fees fell 27% and trading volume fell 28%.

#coinbase

💎 Coinbase exchange has invested in ~40 startups founded by former employees

This was announced by Coinbase CEO Brian Armstrong.

He also noted that the company encourages the creation of products within Coinbase and employees "benefit from their realization."

#Coinbase

💸 Coinbase has made the first crypto-transaction managed by AI

According to the site's CEO, AI agents do not have access to bank accounts, but they do have access to cryptocurrency wallets.

Now the neural network can trade with people.

#coinbase #ai

📉 DEX exchanges on Ethereum, Solana, Arbitrum and Base recorded a drop in trading volumes to February figures

Based on Coinbase's observation, the fragmentation of meme token trading outside of the Solana blockchain is to blame. Many investors are also being kept on the sidelines by macroeconomic factors - the Fed's key rate decision and the US election.

#Coinbase

💬 Cryptocurrency exchange Coinbase has launched a wrapped version of bitcoin

The token will work on Base and Ethereum networks.

The asset is backed by bitcoin stored on Coinbase at a 1:1 ratio.

#coinbase