Lobbying groups and executives representing the banking and crypto industries are planning to meet at the White House on Monday as tempers flare over a contentious piece of digital-asset legislation. The proposed meeting comes after Coinbase Global Inc.’s (COIN) Chief Executive Officer Brian Armstrong publicly withdrew his support for a key draft of a long-awaited bill that would reshape crypto…
A major cryptocurrency bill was headed for a committee vote in the Senate on Thursday after months of negotiations, a crucial step in the legislative process. Then came a social media post from the top executive of Coinbase, the largest U.S. crypto company. “Coinbase unfortunately can’t support the bill as written,” Brian Armstrong, chief executive of Coinbase, posted on X…
Coinbase CEO Brian Armstrong said on Friday that an ex-employee of the crypto exchange has been arrested in India, months after hackers stole customer data and demanded $20 million in ransom for its return. The hack — which happened in May — saw Coinbase support agents bribed by criminals to release customer information such as home addresses, bank details and…
Coinbase, the largest U.S.-based cryptocurrency platform, has filed with the Securities and Exchange Commission Wednesday that it is leaving Delaware. We are reincorporating in Texas, which has become an increasingly attractive hub for innovative companies like ours. It’s a shame that it has come to this, but Delaware has left us with little choice. As a lawyer who’s practiced for…
Coinbase CEO Brian Armstrong scrutinized the U.K.’s advertising regime on Monday after broadcasters apparently banned the exchange’s new television commercial. The one-minute Oliver!-style musical satire, titled “Everything Is Fine,” depicts leaky ceilings, empty supermarkets, and sky-high prices before cutting to a tagline urging viewers to update the system. “The traditional financial system is not working for many people and crypto…
Coinbase has lodged charges against Oregon Governor Tina Kotek, accusing her office of stonewalling the release of documents related to a lawsuit the state brought against the exchange earlier this year. In a complaint filed in the Circuit Court of the State of Oregon for the County of Marion, Coinbase said the state “changed course” when suing the exchange as…
After dodging a high-stakes lawsuit under former President Joe Biden’s SEC, Coinbase is now pushing the envelope. In an interview with Reuters, Coinbase’s chief legal officer Paul Grewal said the crypto exchange is seeking formal regulatory approval to offer tokenized equities. While Grewal stopped short of confirming whether Coinbase has submitted a formal request, he said the initiative is a…
Coinbase (COIN) is petitioning a federal court to take over jurisdiction of Oregon’s lawsuit accusing it of selling unregistered securities, arguing the state is improperly interfering with federal efforts to clarify digital asset regulations. In a filing late Monday evening, Coinbase argued that Oregon Attorney General Dan Rayfield’s lawsuit which it initiated in April over alleged trading of unregistered securities…
Last week’s highly organized breach of cryptocurrency exchange Coinbase (COIN) left behind more questions than answers. While some hailed Coinbase’s response as a “really great example” in dealing with a crisis, the breach has now caused a potentially massive privacy issue that mirrors the Ledger data breach in 2021 — which led to a spate of real-world robberies as criminals…
Coinbase Global said Thursday that it has refused to pay a $20 million ransom demand from cybercriminals who bribed the company’s overseas customer support agents to steal sensitive user data. The cryptocurrency exchange estimated that the incident could cost from $180 million to $400 million, between fixing the underlying issues and reimbursing customers, according to a regulatory filing. The disclosure…