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Crypto assets totaling $13.6m were transferred from the accounts of FTX and Alameda Research to the Coinbase and Binance exchanges. As Spot On Chain analysts reported, there were two large tranches in total. The amount of the first was $8.12 million. It included 46.5 million GRT, 972,073 RNDR, and 708,100 MKR. #FTX deposited $8.12M worth of 3 assets to #Coinbase ~3hrs ago, including: 46.5M $GRT ($4.85M) 972,073 $RNDR ($2.3M) 708.1 $MKR ($967K) As of Nov 1, 2023, #FTX and #Alameda Research have deposited a total of ~$78.1M worth of 22 #EVM tokens to exchanges. They still hold… https://t.co/9CNMobYsWW pic.twitter.com/VccnXjB6ab — Spot On Chain (@spotonchain) November 1, 2023 A few hours later, the companies conducted the second tranche in the amount of $5.49 million. It included 1.14 million DYDX, 192,888 AXS, 5858 AAVE. #FTX and #Alameda Research further deposited $5.49M worth of 6 assets $AAVE, $ALICE $AXS, #C98, $DYDX, $ZRX, to #Binance and #Coinbase ~30 mins ago. To...

Coinbase recently visited Washington D.C. to advocate for clearer crypto regulations, highlighting the industry’s call for more transparent governance. Earlier, Coinbase and several crypto stakeholders took their “Stand with Crypto” campaign to Washington D.C. to garner support for clearer crypto regulatory frameworks. On Sep. 27, a delegation led by Coinbase CEO Brian Armstrong and approximately 40 crypto founders in the United States converged in the capital. Their objective was to implore lawmakers to back a new set of regulations designed specifically for the digital currency market. Here at our nations capital for #StandWithCrypto day with 40 crypto founders from across the country. It’s time for America to join the rest of the G20 and get some clear rules on the books. pic.twitter.com/oQCBGH2yGY — Brian Armstrong ️ (@brian_armstrong) September 27, 2023 Previously, the Republican-dominated House Financial Services Committee and House Committee on Agriculture ha...

Coinbase outlines a strategy for international growth, focusing on countries with clearer cryptocurrency regulations. Coinbase, a cryptocurrency exchange headquartered in the United States, has announced its intentions to concentrate its near-term operations in countries with more defined cryptocurrency regulations. In a blog post on Sept. 6, vice presidents Nana Murugesan and Tom Duff Gordon identified six key markets: the European Union, United Kingdom, Canada, Brazil, Singapore, and Australia. The post elaborated that these regions have been making strides in creating clearer rules around cryptocurrency, which makes them attractive for business operations. Today, 83% of G20 members and major financial hubs have made progress toward regulatory clarity for crypto. But the US is an outlier. A picture paints a thousand words. https://t.co/DpxoKFr4yV pic.twitter.com/KvQ4q0zlsn — Coinbase ️ (@coinbase) September 7, 2023 You might also like: Coinbase will remain in US ...

The Complete Guide to cbETH: Coinbase’s Wrapped Staked ETH The Ethereum blockchain will begin a huge transformation with the anticipated merger scheduled for September 2022. This upgrade will shift Ethereum from a power-hungry proof-of-work model to a more efficient and deflationary proof-of-stake model. As part of the preparations for the merger, Coinbase has introduced cbETH, a wrapped cryptocurrency that represents Ethereum 2.0 (ETH2) on its platform. In this comprehensive guide, we will explore what cbETH is, how it works, and its impact on the Ethereum ecosystem. Also read: Ethereum’s Realized Price Touches $1700: Time to Buy ETH? What is cbETH? cbETH is an ERC-20 utility token issued by Coinbase to represent Ethereum 2.0 (ETH2) on its platform. It is a wrapped cryptocurrency , meaning it represents another cryptocurrency that has been “wrapped” or “locked up” in a digital smart contract. In the case of this token, it represents...

Senator Lummis Backs Coinbase In SEC Battle A key proponent of the bicameral Lummis-Gillibrand Responsible Financial Innovation Act, Senator Lummis, has submitted an amicus brief in favor of Coinbase . She claims in her statement that the SEC is not explicitly authorized to oversee digital assets. The senator is adamant that Congress, not the SEC, should be in charge of deciding what regulations apply to cryptocurrency. advertisement Lummis contends that the SEC’s sweeping claim that almost all crypto assets qualify as securities goes beyond the agency’s authority and violates the constitutionally mandated separation of powers. Lummis criticizes this approach, frequently referred to as “regulation-by-enforcement,” and stresses that the SEC must not circumvent the legislative process. Senator Lummis, who is an amicus curiae, sits on the Senate Committee on Banking, Housing, and Urban Affairs, which has authority over both the SEC and crypto...

The tweet from Grewal contained the screenshot of a portion of the documents that highlighted a “regulatory gap” in which an asset can be excused from being tagged as a security if there’s no controlling entity to hold onto in the case of a decentralized entity and is still required to register to fulfill an obligation to protect investors. advertisement Grewal noted that the clause underpinning the regulatory gap is what the trading platform had been telling the US SEC, Congress and the Third Circuit Court respectively. John Deaton, known for his insightful commentary on the case noted that the regulatory gap can help the fair notice defense on the part of Coinbase, Ripple and other digital currencies the SEC might be going after. The Hinman emails help @coinbase, #ETH and @Ripple’s fair notice defense. How much it helps anyone in a courtroom is yet to be seen. But in the Court of Public Opinion and in Congress, the emails should help dri...

Also Read: “It’s An Attack On The Entire Industry”: Binance CEO On US SEC Allegations advertisement Coinbase Stock Price Heads To Another Crash As per the data, Coinbase stock price declined by 16% before the market opens up for trading. COIN price closed the last session trading at $58.71. However, with the ongoing pre market sentiments, it is expected that to see Coinbase stock price to drop around $48.53. Source: Google Finance It is important to note that, COIN price took a hit of around 10% on Monday. This comes after the US SEC pressed charges against the world’s largest crypto exchange Binance and its CEO Changpeng Zhao (CZ). (THIS IS A DEVELOPING STORY) Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

Also Read: Why Didn’t US SEC Appeal Over Hinman Docs? Is It Looking To Settle? advertisement Deaton, who represents over 70,000 XRP token holders in the Ripple Vs SEC lawsuit, said the SEC is looking to wage a political war at the cost of winning legally. Overall, the Coinbase Writ was the right move, he explained. XRP Attorney Explains SEC’s War On Crypto The XRP Attorney said the SEC’s fight is on three separate fronts but it chose to be politically right. Recently, the XRP Vs SEC lawsuit took a new shape after Judge Analisa Torres, who is overseeing the case, denied the SEC’s request to conceal the Hinman emails. In a latest, the two parties got a one week extension for the date of revealing the documents. “The Administration’s war on Crypto has 3 separate Courts: the Court of Public Opinion, the Court of Congress, and the Federal Courts. The Coinbase Writ was the right move. It doesn’t matter if they lose ...