The Supreme Court agreed with cryptocurrency exchange Coinbase on June 23, ruling 5–4 that customer disputes shouldn’t move forward in the lower courts while appellate courts have yet to rule on the company’s request to divert those cases to arbitration panels. The decision is expected to reinforce the ability of companies to direct customer disputes…
Supreme Court Sides With Crypto Giant Coinbase in Arbitration Dispute
June 23, 2023
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Binance.US Halts Dollar Deposits, Robinhood Delists Tokens After SEC Crackdown
The U.S. affiliate of Binance said it was halting dollar deposits, while trading platform Robinhood Markets said it was delisting some crypto tokens, after the U.S. securities regulator stepped up its crackdown on the crypto sector. Binance.US, the purportedly independent partner of Binance, said in a tweet on Thursday that its banking partners were preparing…
SEC Lawsuit Against Coinbase and Binance Sparks Controversy and Political Maneuvering
Commentary Yesterday, the Securities and Exchange Commission (SEC) fired a bombshell at the cryptocurrency industry. It is suing Coinbase, a publicly traded company which the SEC approved after going through its business plan to publicly list for trading two years ago. It is also suing Binance, a crypto currency exchange that is domiciled in Hong…
The SEC Chooses the Nuclear Option
Commentary The U.S. Securities and Exchange Commission (SEC) has just filed complaints in a federal court against two of world’s largest cryptocurrency exchanges, Binance and Coinbase. Binance, the largest exchange globally with several billion dollars of daily transaction volume, is registered offshore and technically off limits to U.S. investors. Coinbase, on the other hand, is…
US Agency Sues Major Cryptocurrency Exchange
The U.S. Securities and Exchange Commission (SEC) on June 6 sued one of the largest cryptocurrency platforms in the world, sending the company’s stock down. Coinbase, the platform, has been operating its crypto platform without registration, violating federal law, according to the lawsuit. “Coinbase has never registered with the SEC as a broker, national securities…
US Agency Sues Cryptocurrency Exchange Coinbase
The U.S. Securities and Exchange Commission (SEC) on June 6 sued one of the largest cryptocurrency platforms in the world, sending the company’s stock down. Coinbase, the platform, has been operating its crypto platform without registration, violating federal law, according to the lawsuit. “Coinbase has never registered with the SEC as a broker, national securities…
Crypto Exchange Coinbase Asks Supreme Court to Compel Disgruntled Customers to Pursue Arbitration
March 22, 2023
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An attorney for cryptocurrency exchange Coinbase told the Supreme Court on March 21 that current customer disputes should not move forward in the lower courts while appellate courts have yet to rule on the company’s request to divert those cases to arbitration panels. Coinbase finds itself at the Supreme Court because it prefers the arbitration…
Coinbase to Cut a Fifth of Its Workforce in a Second Round of Layoffs
January 12, 2023
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Coinbase will be cutting a fifth of its workforce following an earlier staff reduction in June 2022 in an attempt to preserve its assets as the crypto industry faces a severe downturn. Some of the largest firms in Silicon Valley in general have been delivering a steady stream of job cut announcements in recent months….
Coinbase Agrees to $100 Million Settlement With New York Regulators
January 7, 2023
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Coinbase has agreed to pay a $100 million settlement with New York state’s financial regulators. The crypto industry was hit with a wave of bad news in 2022, with the collapse of crypto exchange giant FTX, hedge fund Three Arrows Capital, along with the failure of several key lenders. The DFS accused Coinbase on Jan….
Bank of America Downgrades Coinbase Following FTX Collapse
November 19, 2022
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Bank of America (BofA) has downgraded the shares of crypto exchange platform Coinbase following the collapse of the FTX crypto exchange while warning about contagion risks in the volatile sector. The FTX crisis means that Coinbase (COIN) will likely face several new headwinds in the near or medium term, BofA analysts said in a note…
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