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(Reuters) - Coinbase retail customers in California, New Jersey, South Carolina and Wisconsin will be unable to pledge new cryptocurrency to the exchange’s staking program pending proceedings ...
Coinbase’s flagship prime brokerage, exchange and staking programs violate securities laws, the regulator alleged in its complaint. The company “has for years defied the regulatory structures ...
Coinbase shares have been under pressure this week as the SEC's crackdown on staking has markets concerned about a pocket of the company's business that accounted for ~11% of revenues in the third ...
Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work. It is the largest cryptocurrency exchange in the United States in terms of trading volume. [4]
The company agreed to a $30 million settlement with the SEC and to cease selling its staking service in the US. The case would impact other major crypto exchanges operating staking programs. [171] On 23 March 2023, the SEC issued an alert to investors stating that firms offering crypto asset securities might not be complying with US laws.
Coinbase's first wallet iteration was called "Toshi", named after Satoshi Nakamoto, which in turn is also the name of one of Brian Armstrong's cats. [ 11 ] [ 12 ] A 2018 funding round valued the company at $8.1 billion, and in December 2020, the company filed with the SEC to go public through a direct listing .
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In June 2018, Paradigm was founded by Coinbase co-founder Fred Ehrsam and Sequoia Capital Partner Matt Huang. This came at a time during a cryptocurrency bubble burst where cryptocurrency prices dropped significantly. The duo founded the company to invest in cryptocurrencies and the companies. [2]