Cryptocurrency News Official TheBitTimes.com

Coinbase crypto exchange has supported an initiative to prevent illegal activities from Hamas in the crypto currency space. Coinbase has joined other companies in supporting the fight against terrorist organizations. It believes that no asset, including gold, fiat money, or crypto currencies, can be used to finance Hamas and other terrorist groups. According to the statement, approximately 400 Coinbase employees monitor compliance and participate in investigations. The exchange team will report suspicious transactions to regulators and monitor and block IP addresses associated with prohibited jurisdictions where Hamas could gain donations. “Blockchain analytics technology allows us to trace, report, and even prevent terrorist financing. This is why it’s critical to prevent crypto from thriving offshore and ensure that the US continues to be a world leader in the fight against financial crime and terrorism.” Coinbase team In May 2023, Israeli authorities froze 190 ad...

The U.S. Securities and Exchange Commission (SEC) has asked a federal judge to deny Coinbase’s motion to dismiss a high-profile lawsuit alleging the exchange improperly offered unregistered sec urities. Coinbase previously contended the SEC abused its discretion. The exchange says the SEC exceeded its authority in bringing charges against the platform for dealing in crypto assets not registered as sec urities. However, the agency asserts it acted firmly within its jurisdiction in targeting alleged sec urities law violations. Also Read: Friend.Tech Users Fall Victim to SIM Swap Attack, Loses Ethereum JUST IN: 🇺🇸 SEC asks judge to deny Coinbase motion to dismiss its lawsuit. — Watcher.Guru (@WatcherGuru) October 3, 2023 Coinbase-SEC case has broad implications The closely watched case holds broad implications for the legal status of cryptocurrencies and the SEC’s scope of oversight. The crypto community is monitoring the outcome...

The head of the Coinbase, Brian Armstrong, believes that flatcoins could become the next iteration of stablecoins. In an interview with Yahoo Finance, he stated that flatcoins are “the next iteration of stablecoins.” Coinbase has not yet started development in this area, but they are “interested in it,” Armstrong added. “[The Flatcoin concept is] a new thing on the horizon. There’s a couple teams working on it.” Brian Armstrong, Coinbase CEO Armstrong considers this idea “the best form of money in the crypto space” compared to the current cryptocurrencies and stablecoins. “I also put out a blog post talking about some of the future ideas on the horizon. And a number of our venture investments might go into things like that. But I talked about flat coins, which is kind of the next iteration of stablecoins that’s more maybe linked to CPI or purchasing power.” Brian Armstrong, Coinbase CEO What is flatcoin? Flatcoins are decentralized stablecoins that, fo...

As the crypto industry experiences heightened adoption, various platforms are embracing the Lightning Network for Bitcoin [BTC]. Binance, after encountering congestion during peak trading volumes, opted to integrate this layer 2 solution. Following a similar trajectory, Coinbase appears to be moving in the same direction. Recently, prominent Bitcoin advocates, including Block co-founder Jack Dorsey and MicroStrategy executive chairman Michael Saylor, were observed encouraging Brian Armstrong, the CEO of Coinbase, to adopt the Lightning Network . Dorsey candidly accused Armstrong and Coinbase of neglecting both Bitcoin and the Lightning Network last week. However, Armstrong refuted these allegations and clarified Coinbase’s position regarding the implementation of this layer 2 payments protocol. Also Read: Binance Officially Integrates Bitcoin Lightning Network We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I...

Crypto Twitter has been charged with tracking down and preserving ‘spicy’ deleted tweets from Coinbase CEO Brian Armstrong after the tech mogul apparently wiped all of his messages from the site. It appears that The Wayback Machine — the trusted internet archive — has also scrubbed all evidence of Armstrong’s tweets. The hunt’s instigator, pro-Bitcoin tweeter @Pledditor, says that the goal of the thread is to “find links via alternative archival services to all his old tweets” and has specified that the new archive should focus exclusively on “tweets with verifiable archive links.” Pledditor also says that it should include tweets from between 2015 and 2018 because this was “when he posted all the spicy takes.” Read more: Coinbase boss Brian Armstrong sorry for leaving retail users high and dry The Internet Archive says that web users who want archives of their sites or accounts removed can make a request by sending an email specifying the URLs and t...

The SEC filed a lawsuit on June 5 against Binance and on June 7 against Coinbase, accusing both exchanges of violating securities laws by offering certain cryptocurrencies as securities for trading. As two of the most prominent exchanges available to users today, CoinGecko reports the detrimental impact of this news on cryptocurrency prices. Varying degrees of decline CoinGecko shares the impact of the SEC’s lawsuit on crypto currency prices , stating that the announcement of the lawsuit had a notable effect on listed crypto currencies, with varying degrees of decline. The Sandbox (SAND) experienced the largest drop, falling by -11.4% on June 6 and further plummeting by -35.0% by June 12, from $0.59 to $0.39. SAND was mentioned in both lawsuit s as it is available for trading on Binance and Coinbase. Among the top 10 cryptocurrencies by market capitalization, significant drops were observed. Binance Coin (BNB), the fourth-largest cryptocurrency, initially fell by -9.4% ...

Crypto bull Cathie Wood reiterated her bullish $1 million Bitcoin target and explained Binance and Coinbase lawsuits have many key differences. She believes regulatory hurdles Binance is facing will benefit Coinbase. advertisement Coinbase Buys $15 Million in Block Inc (SQ) Shares Cathie Wood’s investment management firm Ark Invest purchased 227,365 Block Inc shares worth $15 million in anticipation of a recovery in stock price, according to transactions seen by CoinGape. Cathie Wood’s Ark Invest purchased 177,985 SQ shares for its ARK Innovation ETF (ARKK), 29,442 SQ shares for ARK Next Generation Internet ETF (ARKW), and 19,938 SQ shares for ARK Fintech Innovation ETF (ARKF). Ark Invest funds started buying Block Inc shares again in March. Cathie Wood continued to buy SQ shares despite the Hindenburg Research report. Recommended Articles Crypto Presal...

Just a day after the Securities and Exchange Commission targeted Binance with a lawsuit, the SEC has made its next move, In one of the most recent updates, the SEC has sued crypto exchange Coinbase. The commission stated that the exchange has never registered with the SEC as a broker. Additionally, the lawsuit also claims that the exchange evaded the disclosure regime that has been put in place for the sec urities market. The SEC has also stated that Coinbase made billions of dollars unlawfully by facilitating the buying and selling of crypto asset sec urities. JUST IN: SEC says #Coinbase made "billions of dollars unlawfully facilitating the buying and selling of crypto asset sec urities." — Watcher.Guru (@WatcherGuru) June 6, 2023 Coinbase made billions of dollars unlawfully, says SEC The details from the SEC’s complaint states that the exchange has unlawfully facilitated the buying and selling of crypto asset sec urities. The SEC states that Coinbase...

The Securities and Exchange Commission (SEC) has replied to crypto exchange Coinbase’s petition that demanded it outline and adopt new regulations on crypto and digital tokens. In its petition, initially submitted in July of last year, Coinbase argued that most of the tokens traded on its platform shouldn’t be defined as securities. It also wants the SEC to define what tokens are classified as such. The SEC didn’t immediately reply to the petition, instead sending Coinbase a Wells notice urging it to comply with existing law on its various offerings and services including its staking services and the Coinbase Earn program. Eventually, Coinbase sued the SEC requesting that the federal appellate court in Philadelphia issue a mandamus . A mandamus is an uncommon legal mechanism whereby, in certain circumstances, a public entity is required to take a particular action in line with its statutory mandate. Coinbase claps back at SEC proposal, chief exec targets Gary G...