We do have pretty dominant market share in terms of custody for the ETFs. I see that as a strength. We're the trusted counterparty on the institutional side. I think we're far ahead there, and it's a great business for us,
A federal judge in Nevada has shut down Coinbase Financial Markets Inc.'s last-ditch effort to stop state gambling regulators from cracking down on its event-based trading products, clearing the way for the case to continue in state court. In a February 7 order, U.S. District Judge Cristina D. Silva denied Coinbase's request for a temporary restraining order and a preliminary injunction. She also dismissed the company's federal lawsuit without prejudice, ending the case and sending the dispute back where it started.
offers products referred to as event contracts for sale on its mobile app, which are made available to people in Nevada. The Board considers offering sports event contracts, or certain other event contracts, to constitute wagering activity under NRS 463.0193 and 463.01962 and, therefore, entities offering such event contracts must be licensed.
A caller claiming to be "Coinbase support" can sound polished, patient and strangely urgent, which is exactly the mix that makes smart people move too fast. In a recent case, onchain investigator ZachXBT said this kind of impersonation campaign netted an alleged scammer roughly $2 million in crypto from Coinbase users and that the suspect's own online footprint helped connect the dots.
The researcher, Jonathan Clark, says he knows this for a fact because he reported the attack to Coinbase on January 7 after the criminals tried to scam him. According to Clark, Coinbase's Head of Trust and Safety Brett Farmer responded to his "comprehensive security report" the same day he emailed it to the company's security@ address. In a blog about the incident, Clark says Farmer replied: "This report is super robust and gives us a lot to look into. We are investigating this scammer now."
One of the largest deals ever for a stablecoin startup has fallen through. Coinbase has called off acquisition talks with the U.K.-based BVNK, a spokesperson for the crypto exchange confirmed to Fortune. It wasn't immediately clear why Coinbase iced the deal, which had gotten as far as the due diligence process and seen the crypto giant and BVNK enter into exclusivity in October, meaning the startup couldn't entertain offers from other bidders.
Crypto markets continue to struggle on the back of the FOMC meeting this past Wednesday. Fed Chair Powell's comment of no guarantee of cuts in December has had markets reeling, with Bitcoin beginning to recover today, trading above its 200 day SMA at around $110,000 at this time of writing. But Bitcoin's recovery is not as significant as Z-Cash, the crypto story of the moment.
