ARK Invest added Coinbase and Circle shares across two trading sessions while selling about $8 million in Bullish as crypto stocks declined. Cathie Wood’s ARK Invest is buying Coinbase and Circle shares as crypto stocks fall, while cutting its stake in crypto exchange operator Bullish. ARK purchased crypto exchange Coinbase (COIN) shares worth an estimated $9 million and stablecoin issuer Circle (CRCL) shares worth $8 million on Friday and Monday, according to its daily trade disclosures and closing prices from Yahoo Finance. The purchases totaled 64,208 Coinbase shares and 110,551 Circle shares across three of ARK’s exchange-traded funds (ETFs), which also sold 342,545 shares of Bullish (BLSH) worth approximately $8 million.
New Jersey lifted its staking ban and dropped a $5 million penalty, clearing the way for Coinbase to restore staking access for users in the US state. New Jersey’s securities regulator has rescinded its 2023 cease-and-desist order against Coinbase’s staking service, lifting a ban that stopped residents staking new funds on the exchange for over three years. The Oct. 30 notice, signed by Acting Bureau Chief Keith A. Alt, withdrew the order and its $5 million penalty without prejudice and without a ruling on the merits. The wording leaves the Bureau of Securities free to bring a fresh enforcement action against Coinbase in the future. Coinbase disclosed the move in its third-quarter filing, stating the regulator informed the company on Oct. 29 of its plan to rescind. CEO Brian Armstrong sai…
Slowing trading activity and fallout from the Binance hack are clouding Coinbase’s revenue prospects, prompting Morgan Stanley to lower its rating on the stock. Investment bank Morgan Stanley turned bearish on Coinbase (COIN) on Monday, cutting its price target by more than half as it warned that the cryptocurrency exchange’s profits could recover more slowly than expected. Analyst Michael Cyprys lowered the stock’s price target from $258 to $120, a cut of about 53%, citing recent trading trends, a softer revenue outlook and uncertainty in the crypto market following Binance’s $6.3 billion hack, according to a Monday report. The bank still sees Coinbase as one of the strongest competitors in crypto but expects profits to recover more slowly than previously forecast, putting further pressur…
Circle, Strategy and other crypto-linked stocks fell sharply Friday, a day after Binance disclosed a $6.3 billion security breach. Shares of publicly traded cryptocurrency companies fell sharply Friday, with Coinbase dropping more than 13% a day after reporting a decline in third-quarter revenue, as the industry dealt with Binance’s $6.3 billion hack. Other crypto-linked stocks also declined, with stablecoin issuer Circle Internet Group (CRCL) falling more than 9% and Bitcoin treasury company Strategy (MSTR) dropping about 8%, according to Yahoo Finance data at the time of writing. Source: Yahoo Finance
The attackers held 18,270 BTC early Friday, topping Coinbase’s reported corporate holdings, and an Ether stash exceeding 500,000 ETH. The attackers behind the $6.3 billion Binance hack held more Bitcoin on Friday than crypto exchange Coinbase’s holding for investment and operation at the end of September. Blockchain analytics firm Bitquery traced 18,270 Bitcoin (BTC), worth roughly $1.4 billion, to 19 addresses linked to the attacker. Coinbase reported holding 17,954 BTC for investment and 117 BTC for operations as of Sept. 30, a combined 18,071 BTC. The Binance hacker’s haul exceeded that total by 199 BTC. Coinbase’s holdings does not include the BTC that the exchange holds for customers.
Coinbase has applied for authorization ahead of Brazil’s Oct. 30 deadline and says it expects to maintain existing services while regulators review its application. Coinbase has applied for authorization to operate as a crypto service provider in Brazil ahead of the country’s license application deadline on Friday. The US-based cryptocurrency exchange submitted its application to the Central Bank of Brazil on Wednesday under the country’s virtual asset service provider (VASP) framework, according to a statement shared with Cointelegraph. The filing aims to maintain Coinbase’s existing Brazilian operations as the central bank introduces new requirements covering governance, customer asset safeguards and compliance.
Coinbase said that an incident at analytics vendor Amplitude exposed some customers’ contact data, but it found no evidence of unauthorized access to its own systems. Some Coinbase customers’ contact information was exposed in a security incident at analytics vendor Amplitude, the exchange said Wednesday. The incident impacted a “small subset” of Coinbase customers, along with other Amplitude clients, Coinbase Support said on X. Coinbase denied that its own systems had been breached and said customer funds were not affected.
According to the Central Bank of Ireland, Coinbase Ireland had agreed with the facts around the enforcement action and will be subject to fines and sanctions upon approval by a high court. The Central Bank of Ireland announced an enforcement action against Coinbase Ireland for failures to safeguard user funds and provide oversight between 2020 and 2025. In a Thursday notice, the regulator said that the Coinbase arm had “admitted the prescribed contraventions and has agreed to the undisputed facts,” settling for $3.6 million in fines. The notice said that Coinbase Ireland had violated regulations related to oversight and safeguarding of customer funds and improperly relied on the exchange’s US company to outsource certain services. The company’s user agreement currently states: “We use a v…
Nine other crypto platforms voluntarily restricted app access in Kazakhstan, prompting the regulator to withdraw its claims against them. Kazakhstan’s Astana International Financial Centre court (AIFC) has prohibited six platforms from offering digital-asset services without licenses in its jurisdiction and extended access restrictions to app stores. The Astana Financial Services Authority (AFSA) said Tuesday the court issued injunctions after the regulator sued operators of crypto platforms for offering digital-asset services without authorization. The Sept. 15 order named BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase, LBank and WEEX; an amendment three days later removed LBank after its operator blocked access in Kazakhstan.
US institutions will gain access to Deribit’s options and perpetual futures through Coinbase, with US retail options expected later this year. Coinbase has completed its integration of derivatives exchange Deribit, opening a regulated route for eligible US customers to global crypto derivatives markets that have historically operated beyond their reach. The exchange announced Wednesday that the integration combines its international derivatives business with Deribit while allowing eligible US customers to access that liquidity through Coinbase Financial Markets, its derivatives unit regulated by the Commodity Futures Trading Commission (CFTC). Coinbase International Exchange balances and positions were migrated to Deribit on Oct. 1. Crypto derivatives account for roughly 80% of global cryp…
Coinbase joins Kraken in bringing US derivatives infrastructure in-house, after Kraken’s parent acquired Bitnomial and its CFTC-regulated exchange, clearinghouse and brokerage in May. Coinbase has received approval from the Commodity Futures Trading Commission (CFTC) to launch Coinbase Clearing LLC, its own US-based derivatives clearing organization. The registration became effective Monday, permitting the clearinghouse to clear fully collateralized futures, options on futures and swaps, though the registration does not permit the clearinghouse to clear its leveraged products. “Today’s CFTC approval completes Coinbase’s end-to-end derivatives infrastructure, enabling us to bring more regulated derivatives products to market with native USDC collateral and 24/7 settlement,” said Molly Abr…
Coinbase draws scrutiny after the CLARITY Act stalls, while the SEC moves ahead with tokenized stocks and crypto firms push deeper into payments. The crypto industry spent much of the past two years preparing for regulatory clarity in Washington. This week, one of its biggest legislative priorities hit a major roadblock. The CLARITY Act failed to advance in the Senate on Tuesday, falling short of the 60 votes needed to bring the bill to the floor for debate. The setback significantly narrows the bill’s path this year, with the Senate calendar tightening ahead of the Nov. 3 midterm elections. Strategists say crypto exchanges such as Coinbase may have more at stake than most from the stalled legislation.
Kalshi’s proposal would bring perpetual futures tied to individual stocks to US traders, as Coinbase and Bitnomial pursue similar products. Kalshi has filed to offer perpetual futures tied to individual US stocks, joining Coinbase in a push to bring crypto-style derivatives to traditional equity markets. The prediction market filed the proposed rule change with the Securities and Exchange Commission and submitted it to the Commodity Futures Trading Commission (CFTC) for approval on Friday. The CFTC has yet to approve the proposal. The proposed contracts would have no preset expiration date and would use periodic funding payments between long and short positions to keep their prices aligned with the underlying stocks. Kalshi said the contracts would be treated as security futures products a…
Coinbase wants to bring 24/5 perpetual futures trading to individual US stocks, with its proposed contracts now awaiting regulatory approval. Coinbase has filed with the Commodity Futures Trading Commission to list single-stock perpetual futures in the United States, seeking to bring a derivatives product widely used in crypto markets to individual US equities.
A strategist at the Danish bank said Coinbase has more at stake in the CLARITY setback because its trading business is directly exposed to US market-structure rules. While Bitcoin and crypto-linked stocks fell sharply after the US Senate failed to advance the Digital Asset Market Clarity, or CLARITY, Act, Saxo Bank believes exchanges like Coinbase have more at stake than most because clearer rules could directly affect their trading businesses. In a Wednesday note, Saxo strategist Ruben Dalfovo said Coinbase (COIN) is the most directly exposed to developments around CLARITY because market-structure rules could determine registration requirements, which assets can trade and who can participate in US crypto markets. “Coinbase is most exposed to clearer market rules because trading and crypto…
The partnership will provide stablecoin acceptance, settlement and real-time funding capabilities to over 1,000 community banks and credit unions. Cryptocurrency exchange Coinbase partnered with financial platform Moov to bring stablecoin infrastructure to more than 1,000 community banks and credit unions that are part of Moov’s customer base. The partnership will combine Coinbase’s regulated digital asset infrastructure and Moov’s payments platform to offer stablecoin payment acceptance, settlement and real-time funding, according to a Thursday announcement. The infrastructure will support use cases such as consumer stablecoin payments, merchant settlement and payouts. It will also offer businesses and merchants access to Coinbase custodial accounts.
Coinbase is offering eligible Canadian traders perpetual and dated futures with up to 10x leverage as major US trading platforms expand their crypto presence in Canada. Coinbase has launched crypto derivatives trading in Canada, giving eligible users access to perpetual and dated futures tied to Bitcoin (BTC), Ether (ETH), Solana (SOL) and other assets.
The brokerage is adding digital assets alongside stocks, ETFs and options as Canadian crypto ownership rises and regulators move toward clearer industry rules. Webull, a self-directed brokerage and trading platform, is expanding its Canadian offering to include cryptocurrencies, adding Canada to a crypto footprint that already includes the United States, Australia and Brazil. The company announced Monday that its Canadian crypto offering will run on Coinbase’s Crypto-as-a-Service infrastructure, with Coinbase providing the underlying trading and custody services. Webull’s Canadian website currently displays 10 cryptocurrencies, including Bitcoin (BTC), Ether (ETH) and Solana (SOL), while indicating that additional assets are also available. The addition of crypto broadens Webull’s Canadian…
The Japanese Bitcoin treasury company has transferred 10,270 BTC to Coinbase Prime this week, an amount equal to more than 29% of its reported holdings. Metaplanet, the fourth-largest corporate Bitcoin treasury, moved 4,800 BTC worth nearly $377 million to Coinbase today, triggering speculation about the company selling its holdings. According to Arkham Intelligence data, Metaplanet transferred 4,800 BTC to Coinbase Prime today, following the company’s transfer of 2,000 BTC worth $155.5 million two days ago, another series of transfers three days ago totaling 3,331 BTC worth nearly $266 million and lastly a transfer from six days ago moving 139 BTC worth $11.1 million. In total, those deposits amounted to 10,270 BTC worth approximately $806.3 million this week alone. Blockchain data-specia…
Better and Coinbase have launched a crypto-backed mortgage product that lets US homebuyers pledge Bitcoin as collateral for a down payment without having to sell it. Better Mortgage and Coinbase have made their Bitcoin-backed mortgage product generally available, allowing US homebuyers to pledge Bitcoin as collateral for a down payment without selling it, the companies announced Wednesday. According to Coinbase’s Help Center, the product pairs a Fannie Mae-backed home loan with a separate down payment loan secured by Bitcoin (BTC). Borrowers must pledge BTC worth at least 250% of the down payment loan, with the pledged BTC transferred to Better’s custodial account on Coinbase Prime. The two loans carry the same interest rate and amortization term and are repaid through a single monthly pay…
