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The lawsuit is the SEC's second in two days against a major crypto exchange, following its case against Binance, the world's largest cryptocurrency exchange, and founder Changpeng Zhao. Crypto companies including Coinbase have said SEC rules are unclear, and the regulator is overreaching by asserting oversight of their industry. Coinbase customers pulled more than $57 million from the exchange within a couple of hours of the filing, according to data firm Nansen. The SEC said Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens such as Solana, Cardano and Polygon. The case is SEC v Coinbase Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Coinbase, Binance, Changpeng Zhao, Gary Gensler's, Gensler, Paul Grewal, Coinbase's, Nansen, Dado Ruvic, Gurbir Grewal, Kristin Smith, Jonathan Stempel, Hannah Lang, Michelle Price, Manya, Jason Neely, Louise Heavens, Chizu Nomiyama, Nick Zieminski Organizations: YORK, U.S . Securities, Exchange Commission, SEC, CNBC, Global Inc, Reuters Graphics, REUTERS, Coinbase, New, Blockchain Association, Court, Southern District of, Manya Saini, Thomson Locations: U.S, California, Manhattan, Solana, Cardano, New Jersey, Southern District, Southern District of New York, New York, Washington ,, Bengaluru

☆ SEC sues Coinbase over exchange and staking programs, stock drops 13%
▼ + stars: | 2023-06-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Coinbase stock had already fallen 9% on Monday, after the SEC unveiled charges against rival crypto exchange Binance and its founder Changpeng Zhao. Coinbase's flagship prime brokerage, exchange and staking programs violate securities laws, the regulator alleged in its complaint. The SEC has alleged that at least 13 crypto assets available to Coinbase customers were considered "crypto asset securities" by the regulator. Coinbase's institutional service, Prime, its retail exchange product, and its self-custody Wallet service all offered one or more crypto asset security, the SEC said in its complaint. Coinbase's staking program was also identified as a investment contract and as an unregistered security: The SEC had already taken similar action to force the closure of crypto exchange Kraken's staking service.

Persons: Changpeng Zhao, Gary Gensler, Gensler, Coinbase, Paul Grewal, we'll, Coinbase's Organizations: Securities, Exchange Commission, SEC, CNBC, New York Stock Exchange, Labs, Coinbase, Regulators Locations: New York

MarketVector's Smart Contract Leaders Index (.MVSCLE), which tracks major tokens of this kind - including ether, dot and solana - is up 36% in 2023, outpacing even bitcoin's 33% rise. Bundeep Rangar, CEO of crypto-focused asset manager Fineqia, said he expected the biggest crypto returns to come from smart contract tokens on platforms that support decentralized finance (DeFi) apps. Around seven of the top 20 biggest crypto assets are smart contract tokens, including ether and dot , solana and cardano . BofA analysts also pointed to smart contract tokens and the blockchain-based applications they power as similar to growth stocks in the equities world, typically technology shares. They caution, though, that the global macro outlook and central bank policy could hit the growth of crypto projects and their associated tokens.

☆ What investors need to know about ‘staking,’ the passive income opportunity at the center of crypto’s latest regulation scare
▼ + stars: | 2023-02-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Not six months ago, ether led a recovery in cryptocurrency prices ahead of a big tech upgrade that would make something called "staking" available to crypto investors. A clampdown on staking, and staking services, could have damaging consequences not just for those exchanges, but also Ethereum and other proof-of-stake blockchain networks. For example, if you decide you want to stake your ether holdings, you would do so on the Ethereum network. Investors can give their crypto to the staking service and the service does the staking on the investors' behalf. Proof-of-stake vs. proof-of-workStaking works only for proof-of-stake networks like Ethereum, Solana, Polkadot and Cardano.

☆ Bitcoin lost over 60% of its value in 2022—here’s how much 6 other popular cryptocurrencies lost
▼ + stars: | 2022-12-23 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

In the latest blow to the crypto space, Core Scientific, one of the largest publicly traded crypto mining companies in the U.S, which primarily mints bitcoin, filed for bankruptcy on Dec. 21, citing falling crypto prices and rising energy costs. Just 8% of Americans have a positive view of cryptocurrency as of Nov. 2022, according to the CNBC All-America Economic Survey. Overall, the crypto market has lost a little over $2 trillion in 2022 and popular digital coins such as bitcoin have fallen far below their 2021 highs. Here's how much the value of seven popular cryptocurrencies changed in 2022 as of Dec. 22, per CNBC's calculations. For this reason, financial experts typically advise against investing more into crypto than you're willing to potentially lose.

☆ iPod creator Tony Fadell designed a $279 credit card-sized device for storing your crypto
▼ + stars: | 2022-12-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

watch nowThe creator of the iPod, Tony Fadell, designed a new hardware wallet for people to store their cryptocurrency. The Ledger Stax sports a black-and-white E-ink display, similar to that of Amazon's Kindle e-readers. The Ledger Stax is the latest hardware crypto wallet from French startup Ledger. The Ledger Stax, which retails at $279, is available for preorder starting Tuesday and will start shipping in the first quarter of 2023, Ledger said. In 2018, during the last so-called "crypto winter," HTC launched the Exodus 1, a mid-range phone with a crypto wallet included.

☆ Jim Cramer urges investors to exit crypto – ‘it’s never too late too sell’
▼ + stars: | 2022-12-05 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday told investors that they still have time to sell their cryptocurrency holdings. "You can't just beat yourself up and say, 'hey, it's too late to sell.' The truth is, it's never too late to sell an awful position, and that's what you have if you own these so-called digital assets," he said. Cramer, who has warned against staying in speculative assets while the Fed continues to tighten the economy, reiterated his argument and said that investors shouldn't be fooled by some coins' inflated market capitalization. He added that he expects more marginal names including XRP , dogecoin , Cardano and Polygon to fall much further, possibly to zero.

Proof of work and proof of stake are the two main ways cryptocurrency transactions are verified. Proof of stake requires participants to put cryptocurrency as collateral for the opportunity to successfully approve transactions. Proof of work is more secure than proof of stake, but it's slower and consumes more energy. Proof of stake requires network participants to stake cryptocurrency as collateral in favor of the new block they believe should be added to the chain. While proof of stake avoids the massive energy consumption of proof of work, it hasn't been proven to be as secure and stable as proof of work at scale.

☆ Bitcoin and other cryptos spiral lower as worries about the fallout from FTX's troubles grow
▼ + stars: | 2022-11-09 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Bitcoin and most cryptos extended losses Wednesday as worries built about the FTX fallout. Sol plunged 31% and the crypto market cap dropped 11% on fears the troubles would spread. In a stunning turn of events, FTX CEO Sam-Bankman Fried announced Tuesday that the crypto exchange had agreed to be taken over by rival Binance. The emergency deal sent chills through the crypto world, reviving fears about liquidity risks that could lead to company collapses. The overall value of the crypto market dropped over 11% to $871 billion over the last day, according to CoinMarketCap data.

☆ Fidelity, ForUsAll now offering 401(k) investors access to cryptocurrency
▼ + stars: | 2022-11-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Retirement savers in some 401(k) plans are starting to get access to cryptocurrencies like bitcoin. Fidelity Investments, the largest provider of 401(k) plans by total assets, began offering a Digital Assets Account to clients this fall, a spokesperson confirmed. Employers sponsoring a 401(k) plan through Fidelity can choose to offer the account to workers, allowing them to allocate a share of their savings to bitcoin. For its part, ForUsAll, a plan administrator geared toward startups and small businesses, in September also rolled out crypto to 401(k) savers, said David Ramirez, the company's CEO. ForUsAll intends to add five more in the coming weeks, said Ramirez, who declined to disclose which ones.

☆ Bank of England readies for biggest rate rise since 1989
▼ + stars: | 2022-11-03 | by ( David Milliken | ) www.reuters.com time to read: +4 min

[1/2] A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. Markets are now more stable, with British government borrowing costs broadly back to where they were before the upheaval. Purchasing managers' data slid in October to its weakest since January 2021 when the economy was mired in a COVID-19 lockdown. Forty-six of 53 economists polled by Reuters expected the BoE to raise rates to 3% this month. Investors expect the BoE's Bank Rate to hit 3.5% in December and 4.75% next May - the highest since 2008 though below the peak of around 6% projected during last month's market turmoil.

"There is more asset allocation towards baskets that combine the top five or 10 crypto assets by market cap. TICK BY TICKMost active crypto ETP products are registered outside the United States, though, with Switzerland, Canada, Australia and Brazil racing ahead with spot crypto offerings. One reason is that U.S. regulators have turned down several applications for spot bitcoin funds, which mirror the cryptocurrency's price movements tick-by-tick, citing multiple reasons including a lack of surveillance-sharing agreements with regulated markets relating to the spot funds' underlying assets. The world's largest bitcoin fund, Grayscale Bitcoin Trust (GBTC.PK), is down 34% in the same time. At Grayscale's Bitcoin Trust, the AUM have tumbled to $12.2 billion from over $30 billion at the end of 2021, data from the firm showed.

LONDON, Oct 15 (Reuters) - It started out simply enough: British pension schemes were looking for a way to match their assets to future pension payments. But the strategy gradually became riskier, according to interviews with pension scheme trustees, consultants, industry experts and asset managers. Globally, investors are worrying about other financial products predicated on low interest rates, now that rates are rising. Nearly two-thirds of Britain's defined benefit pension schemes use LDI funds, according to TPR. "When people talked about interest rates, all they obsessed about was interest rates falling," said David Fogarty, an independent trustee at professional pension scheme trustee provider Dalriada Trustees.

☆ Premarket stocks: The bond market is crumbling
▼ + stars: | 2022-09-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —The global bond market is having a historically awful year. Vanguard’s $514.5 billion Total Bond Market Index, the largest US bond fund, is down more than 15% so far this year. The iShares 20+ Year Treasury bond fund (TLT) (TLT) is down nearly 30% for the year. What’s next: The bond market may face fresh volatility on Friday with the release of the Federal Reserve’s favored inflation measure, the Personal Consumption Expenditure Price Index for August. If the report comes in above expectations, expect bond yields to move even higher.

☆ Here's what Ethereum's Merge means for investors who want to generate extra cash flow from crypto staking, according to 2 industry experts
▼ + stars: | 2022-09-21 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Industry analysts have predicted that this upgrade could triple current Ethereum staking yields. Here's how staking will change in light of Ethereum's Merge — and what that means for returns. There's another reason the Merge was so important, Perfumo told Insider — eventually, it will single-handedly increase the total market cap of staked crypto assets from 25% to 30% to over 50%. Because Ethereum validators also earn gas fees, higher transaction volumes mean a higher yield. But since these exchanges effectively manage custody of a user's assets, Perfumo emphasized the importance in choosing a trusted exchange to minimize counterparty risk.

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