coinbase
Coinbase Gets Hit With New Class Action Lawsuit Accusing Crypto Exchange of Selling Digital Asset Securities
Published
2 weeks agoon
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adminA newly filed class-action complaint alleges that Coinbase violated US securities laws.
The complaint, which was filed in the Northern District of California’s San Francisco division on Friday, claims that the top US crypto exchange has been operating as “part of a shadowy crypto ecosystem operating just outside of the law.”
“Its entire business model has been built upon a lie and a dream: the lie is that ‘we do not sell securities,’ and the dream is that, knowing it would eventually be caught in the lie, ‘it is better to ask for forgiveness than permission.’
Coinbase has knowingly, intentionally, and repeatedly violated state securities laws since it began doing business.”
The complainants accuse the exchange of offering numerous unregistered “digital asset securities,” including the layer-1 blockchain projects Solana (SOL), NEAR Protocol (NEAR), Algorand (ALGO), Stellar (XLM) and Tezos (XTZ); the blockchain scaling solution Polygon (MATIC); the decentralized exchange Uniswap (UNI); and the Ethereum (ETH)-based virtual reality platform Decentraland (MANA).
The U.S. Securities and Exchange Commission (SEC) has also accused Coinbase of violating securities laws, launching a lawsuit against the exchange in June 2023.
Coinbase has argued that trading digital assets doesn’t qualify as an “investment contract” under the Howey Test, an assessment created by the Supreme Court more than 90 years ago to determine whether assets should be classified as securities.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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coinbase
Crypto Whale Withdraws $75.8 Million in USDC From Coinbase To Invest In Ethereum’s Biggest Presale – Blockchain News, Opinion, TV and Jobs
Published
2 weeks agoon
May 8, 2024By
adminA crypto whale has withdrawn $75.8 million USDC from Coinbase institutional and invested a significant amount in Ethereum’s biggest presale, ETFSwap (ETFS).
An anonymous crypto whale reportedly withdrew a whopping $75.8 million in USDC from their Coinbase Institutional account on Friday night. This move follows the bull market widely predicted to happen in the coming weeks. An in-depth investigation into the event reveals that a large chunk of the money was used to acquire ETFSwap (ETFS) tokens in Ethereum’s biggest presale, making waves in the crypto community.
Crypto Whale Withdraws $75.8 Million In USDC From Coinbase Institutional
Whale Alert, an X (formerly Twitter) account notable for reporting large and exciting transactions in the crypto community, shared the news of a colossal $75.8 million USDC withdrawal from Coinbase institutional to an unknown wallet on Friday night.
The post that went viral in the crypto community has caught the attention of crypto enthusiasts, garnering several reactions. Some enthusiasts insist that the anonymous whale enacted the move to diversify their portfolios and gain big in the upcoming bull market later this year. Others believe that the whale wants to sell off the majority of their holdings and probably settle some of the debts they accrued.
However, whichever the case may be, a click on the web link to the eye-catching transaction shows that the anonymous transaction was made from a Coinbase Institutional account to a new project, ETFSwap (ETFS), firmly believed to be Ethereum’s biggest presale.
ETFSwap (ETFS) Becomes Ethereum’s Biggest Presale
Like the anonymous whale that bought a large amount of the ETFSwap (ETFS) presale tokens, thousands of crypto investors are still flooding into the presale, with over 50 million tokens already sold out in what is now believed to be Ethereum’s biggest pressale. This reiterates the fact that the crypto community believes in the viability and genuineness of the ETFSwap (ETFS) platform.
ETFSwap (ETFS) is an Ethereum-based decentralized finance (DeFi) platform that enables users and investors to buy, trade efficiently, and own a wide variety of cryptocurrencies and tokenized exchange-traded funds (ETFs) in a one-stop shop.
This innovative platform has come at a time when the tokenization of Real-World Assets (RWAs) is being embraced in the cryptocurrency world. At the forefront of this niche, ETFSwap (ETFS) users and investors enjoy the benefits provided by the innovation and flexibility of the decentralized finance realm while trading their various assets.
With the market-making and perpetual futures services available on the platform, trading is fun, seamless, liquid, and efficient on ETFSwap (ETFS). Consequently, users and investors are assured of continuous trading activities without any expiration dates.
Users can also take absolute advantage of the leverage tool on the platform. The ETFSwap (ETFS) platform enables users and investors to amplify their gains with the 10x leverage option provided. This tool is great for seasoned investors who want to maximize their gains by up to 1,000%, meaning a $1,000 gain can easily be turned into a $10,000 gain.
Another feature that has swept crypto enthusiasts off their feet is that on ETFSwap (ETFS), users and investors are not required to undergo rigorous KYC verification. They are afforded the platform to trade anonymously. This will, in return, absolve them of any third-party interference, such as banks or regulated bodies.
Additionally, CyberScope, a leading blockchain security provider, has audited ETFSwap’s (ETFS) smart contracts, and the results show their resistance to cyberattacks.
Whale’s Investment In The ETFSwap (ETFS) Presale Sends Crypto Community Into A Buying Frenzy
After the whale invested a large amount of his withdrawal from Coinbase into the ETFSwap (ETFS) presale, the platform has seen major market activity, with investors actively buying the token.
Presently, in Stage 1 of the presale, the ETFS token is priced at $0.00854 and is selling fast due to this being the lowest price the token will ever be. Therefore, there is no better time to invest in the highly esteemed ETFSwap (ETFS) project than now, especially after analysts have predicted it will go parabolic when the bull run begins.
For more information about the ETFS Presale:
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Bitcoin
VanEck CEO Says Ethereum ETFs Likely To Be Rejected by US Regulators: Report
Published
1 month agoon
April 10, 2024By
adminThe chief executive of financial giant VanEck reportedly says that the U.S. Securities and Exchange Commission (SEC) will likely reject bids to launch Ethereum (ETH) exchange-traded funds (ETFs).
Though many finance institutions had their bids for Bitcoin (BTC) ETFs approved earlier this year, VanEck CEO Jan van Eck told CNBC in an interview that he doesn’t think the regulatory agency will greenlight ETH ETFs.
“We were the first to file as well for Ethereum in the U.S., and we and [Ark Invest CEO] Cathy Wood, are kind of the first in line for May, I guess, to probably be rejected…
The way the legal process goes is the regulators will give you comments on your application, and that happened for weeks and weeks before the Bitcoin ETFs – and right now, pins are dropping as far as Ethereum is concerned.”
The SEC approved BTC ETFs in January after years of rejecting them following a court order to reconsider the applications. ETFs grant traders exposure to an asset without them having to actually purchase it.
In March, the regulatory agency announced that it needed more time to consider the possibility of an ETF based on Ethereum, and would be delaying its decision by 60 days until May.
However, some crypto firms – such as top US-based crypto exchange Coinbase and blockchain software provider Consensys – are urging the SEC to approve ETH ETFs, saying that Ethereum’s cybersecurity and resilience to fraud is even greater than that of Bitcoin’s.
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Bitcoin
Bitcoin Dips Likely To Be Aggressively Bought Up As Investors See BTC As Digital Gold, Says Coinbase Institutional
Published
1 month agoon
April 7, 2024By
adminThe research branch of top US-based crypto exchange platform Coinbase says that going forward, investors are likely to aggressively purchase Bitcoin (BTC) when it dips.
In a new blog post, Coinbase Institutional says that gold is a winner this cycle due to rising economic and geopolitical concerns.
According to Coinbase, the success of gold can be attributed to both the threat of inflation and the anticipation that the Federal Reserve will begin its rate-cutting cycle.
“In this environment, gold has been the largest winner, printing new highs amidst increased central bank buying, heightened geopolitical risks, and reflation concerns.
What makes gold’s performance notable is that its appreciation has generally been associated with both Fed rate cuts as well as higher inflation.
Given the market’s recent hawkish views on rate cuts, we think gold’s performance signals an overweighting on inflation relative to Fed rate changes as well as an overall belief that certain inflation bumps could materialize more problematically than anticipated.”
Looking at Bitcoin, Coinbase Institutional says that since the top crypto asset by market cap is generally being accepted as “digital gold,” the market can expect BTC to be more aggressively accumulated during periods of correction.
“In our view, Bitcoin’s increased acceptance as a form of ‘digital gold’ could enable demand from a new subset of investors in this market regime. As a result, we think dips are likely to be more aggressively bought compared to previous cycles, even as volatility persists during price discovery.”
Coinbase also says it continues to be bullish on the crypto king as it benefits from the demand coming from the spot market BTC exchange-traded funds (ETFs) while the network gears up for the reduction of new BTC supply through the halving.
“In our view, the capital unlocked by the ETFs perhaps represents the most fundamental shift in market structure between the previous 2020-21 cycle and today
These capital unlocks, coupled with the upcoming Bitcoin halving (estimated to occur on April 20th-21st subject to variations in network hash rate) and other positive catalysts, make us still largely constructive in our view throughout Q2.”
At time of writing, Bitcoin is trading for $69,283.
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