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☆ Morning Bid: O Canada! Markets wary of Fed hawkish surprise
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Ankur BanerjeeAnother day, another surprise hike. Broader consensus is that the Fed will do at least one more hike. The CME FedWatch tool showed the probability of the Fed hiking by 25 bps next week is 36%, it was 22% a day earlier. With a light data calendar and futures pointing to a mixed open in Europe, markets could drift on Thursday. Economists expect the Federal Reserve to pause on its tightening cycle on its June 13-14 meeting as price pressures soften and as its key rate rises above inflation for the first time since mid-2020.

Persons: Ankur Banerjee, Ryan Cohen, Coinbase, Brian Armstrong, Gary Gensler, Christopher Cushing Organizations: Ankur, Reserve Bank, Bank of, U.S . Federal Reserve, Reuters, U.S, GameStop, U.S . Securities, Exchange, Federal Reserve, Reuters Graphics Reuters, Thomson Locations: Asia, Japan, Europe, Singapore

June 8 (Reuters) - The chair of the U.S. Securities and Exchange Commission (SEC) on Thursday strongly rebutted criticism that the agency is trying to crush the crypto industry, and said many companies in the space had made a "calculated economic decision" to flout its rules. That means most crypto exchanges have to comply with the securities laws too, he added. "They may have made a calculated economic decision to take the risk of enforcement as the cost of doing business." The crypto industry has attacked Gensler in recent days after the SEC sued two of the world's largest crypto exchanges, Coinbase (COIN.O) and Binance, for allegedly breaking securities laws by failing to register their operations with the agency. The SEC alleged Coinbase traded at least 13 crypto assets that are securities, while it accused Binance of offering 12 cryptocurrency coins without registering them.

Persons: Piper Sandler, Gary Gensler, Gensler, Brian Armstrong, Binance, Changpeng Zhao, Binance.US, Coinbase, Heath Tarbert, John McCrank, Hannah Lang, Susan Heavey, Manya, Michelle Price, Chizu Nomiyama, Matthew Lewis Organizations: U.S . Securities, Exchange Commission, SEC, Twitter, Coinbase, Department of Justice, U.S, Reuters, Futures Trading Commission, Manya Saini, Thomson Locations: New York, Washington, Gensler, Bengaluru

☆ Crypto is 'radioactive waste' for institutional investors until things get resolved, Shark Tank's Kevin O'Leary says
▼ + stars: | 2023-06-08 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

Crypto is 'radioactive waste' for institutional investors, Shark Tank's Kevin O'Leary said. Following the SEC's crackdown on Binance and Coinbase, O'Leary said the industry won't see any growth until things get resolved. Following the back-to-back regulatory crackdowns on Binance and then Coinbase by the SEC this week, O'Leary thinks the crypto industry won't see any capital gains until things get resolved. SEC Chair Gary Gensler is 'razor-clear' on what he wants, which is to make bitcoin a security and regulate where it's traded like on a broker dealer exchange, O'Leary said. You could open the spigots, you could really make this industry take off and own it domestically.

Persons: Crypto, Shark, Kevin O'Leary, Coinbase, O'Leary, —, I've, they've, Binance, Changpeng Zhao, Gary Gensler, Brian Armstrong, I'd, we've Organizations: Service, SEC, Fox Business, Binance, CZ

☆ Coinbase CEO Says He’ll Challenge the SEC for ‘Clarity’ on Crypto
▼ + stars: | 2023-06-08 | by ( ) www.wsj.com time to read: 1 min

6/8/2023 12:01AMCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal

Persons: Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street

But the Coinbase case will be the biggest test yet of the regulator's jurisdiction over the industry. To argue that crypto assets are securities, the SEC has relied on a U.S. Supreme Court case from 1946. WHAT MAKES A CRYPTO ASSET A SECURITY? In the few cases that have been decided in court, judges have agreed with the SEC that specific crypto assets are securities. The SEC has alleged in the Coinbase case that 13 different digital assets sold on the platform are securities.

Persons: Binance, Coinbase, Howey, XRP, Carol Goforth, Goforth, Brian Armstrong, Jody Godoy, Tom Hals, Nick Zieminski, Lisa Shumaker Organizations: SEC, Securities, Exchange Commission, European Union, Supreme, Ripple Labs, University of Arkansas, Twitter, Thomson Locations: U.S, Manhattan, Solana, Cardano, Florida, XRP, New York

REUTERS/David SwansonJune 7 (Reuters) - Coinbase (COIN.O) Chief Executive Brian Armstrong on Wednesday hit back at the U.S Securities and Exchange Commission (SEC) Chair over the agency's lawsuit against the crypto exchange, calling him an "outlier," while also reassuring customers that their funds were safe. Crypto companies, including Coinbase, dispute that crypto tokens are securities and have repeatedly called for the SEC to create clear rules. SETTLEMENT BREAKDOWNLast July, Coinbase disclosed an SEC probe into its asset listing processes, staking programs and yield-generating products. Grewal said despite the lawsuit, Coinbase would still be interested in a dialogue with the SEC about how to bring cryptocurrency into the regulatory perimeter. "If there were an opportunity for a real conversation, of course we would take it up, but I want to be very clear: Coinbase is absolutely committed to defending itself in court," he said.

Persons: Brian Armstrong, David Swanson, Coinbase, Armstrong, Gary Gensler, Gensler, ” Armstrong, Binance, hasn’t, haven’t, Paul Grewal, Grewal, Hannah Lang, Manya Saini, Niket, Chris Prentice, Shounak Dasgupta, Michelle Price Organizations: Milken, Global Conference, REUTERS, U.S Securities and Exchange Commission, SEC, Bloomberg, Monday, CNBC, Reuters, U.S ., Appeals, Circuit, Thomson Locations: Beverly Hills , California, U.S, Solana, Cardano, Washington, Bengaluru

[1/2] Brian Armstrong, CEO and Co-Founder of Coinbase, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David SwansonJune 7 (Reuters) - Coinbase (COIN.O) executives on Wednesday defended the company against a lawsuit brought by the U.S. securities regulator, saying the cryptocurrency sector lacks a clear set of guidelines. The agency also said Coinbase was operating as an unregistered exchange, broker and clearinghouse. Coinbase also sought to distance itself from rival exchange Binance, which was also served with an SEC lawsuit on Monday. The SEC alleged Binance, the world's largest cryptocurrency exchange and its founder Changpeng Zhao, also sold cryptocurrency products without registering them as securities.

Persons: Brian Armstrong, David Swanson, Coinbase, Binance, Changpeng Zhao, Zhao, Paul Grewal, Grewal, Hannah Lang, Manya, Shounak Dasgupta Organizations: Milken, Global Conference, REUTERS, Wednesday, U.S, Securities, Exchange Commission, SEC, CNBC, U.S ., Appeals, Circuit, Reuters, Manya Saini, Thomson Locations: Beverly Hills , California, U.S, Solana, Cardano, Cayman Islands, Washington, Bengaluru

☆ Who Is Brian Armstrong? Coinbase CEO Is Taking On the SEC
▼ + stars: | 2023-06-07 | by ( Alexander Osipovich | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/who-is-brian-armstrong-coinbase-ceo-is-taking-on-the-sec-de741eb2

Persons: Dow Jones, brian, armstrong Organizations: coinbase

☆ Thousands Evacuate After Dam Explosion Floods Southern Ukraine
▼ + stars: | 2023-06-07 | by ( ) www.wsj.com time to read: 1 min

Coinbase CEO Says He’ll Challenge the SEC for ‘Clarity’ on CryptoCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal

Persons: Crypto, Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street

☆ Coinbase CEO Brian Armstrong on SEC lawsuit: We've had a long history of being transparent with them
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase CEO Brian Armstrong on SEC lawsuit: We've had a long history of being transparent with themCoinbase CEO Brian Armstrong joins 'Squawk Box' to respond to the SEC's lawsuit against the company.

Persons: Brian Armstrong, We've Organizations: SEC

☆ Crypto crackdown: Is there anywhere safe left for crypto investors in the US?
▼ + stars: | 2023-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

“Look, we don’t need more digital currency,” Gensler told CNBC on Tuesday. “We already have digital currency: It’s called the US dollar. Many crypto investors appear to be abandoning so-called “alt-coins” and sticking with the relatively more reliable OG virtual currency, wrote Ed Moya, a senior market analyst with Oanda. Bottom line: “The SEC looks like it is playing Whac-A-Mole with crypto exchanges,” Moya wrote. Because of that, crypto investors will have to decide whether they are confident that the offerings on various exchanges will remain available to trade.

Persons: CNN Business ’, Binance, ”, Matt Levine, I’ll, Coinbase, Brian Armstrong, Gary Gensler, ” Gensler, “, It’s, Crypto, TD Cowen, Reena Aggarwal, Aggarwal, bitcoin, Ed Moya, ” Moya, —, you’ll Organizations: CNN Business, New York CNN, Securities and Exchange Commission, SEC, CNBC, Georgetown, Psaros, Financial Markets, Chicago Mercantile Exchange, Oanda Locations: New York, United States, “, cryptos

Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously and soften the hard line that regulators have taken on the industry. Coinbase CEO Brian Armstrong said last week that the SEC was on a "lone crusade" with its tough actions against certain crypto companies. "The SEC is a bit of an outlier here," Armstrong told CNBC's Dan Murphy in an interview in Dubai. But he's created some lawsuits, and I think it's quite unhelpful for the industry in the U.S. writ large." "The biggest fear of crypto companies is that regulation will cause panic among crypto investors and prices will go down.

☆ The financial system is in 'major need' of an update, Coinbase CEO says
▼ + stars: | 2023-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe financial system is in 'major need' of an update, Coinbase CEO saysBrian Armstrong, Coinbase CEO, says "crypto is a technology that can update the financial system."

☆ The UAE is putting out a 'clear rulebook' on cryptocurrency regulation, Coinbase CEO says
▼ + stars: | 2023-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe UAE is putting out a 'clear rulebook' on cryptocurrency regulation, Coinbase CEO saysBrian Armstrong, Coinbase CEO, says the United Arab Emirates deserves "a lot of credit" for its commitment to crypto regulation.

☆ Coinbase CEO says SEC is on 'lone crusade,' dials back on suggestion exchange may relocate
▼ + stars: | 2023-05-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The CEO of cryptocurrency exchange Coinbase , Brian Armstrong, doubled down on his criticisms of the U.S. Securities and Exchange Commission chief Gary Gensler Monday, but added the exchange would not leave the U.S. despite the regulatory uncertainty the company is facing in the country. At the heart of the regulator's dispute with Coinbase, and a host of other crypto companies, is the allegation that it is selling unregistered securities to investors. "The SEC is a bit of an outlier here," Armstrong told CNBC's Dan Murphy in an interview in Dubai Monday. "There's kind of a lone crusade, if you will, with Gary Gensler, the chair there, and he has taken a more anti-crypto view for some reason." "I don't think he's necessarily trying to regulate the industry as much as maybe curtail it.

☆ Crypto-silence is precious for Gensler's SEC
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

But he has taken several enforcement actions against crypto firms alleging that they are selling unregistered securities, and the SEC is considering suing Coinbase. Think from Gensler's perspective, though, and there's little upside in breaking the silence. Accept that digital assets are not securities after all, and he would look foolish for not saying so sooner. Yet state definitively that they are securities, and Gensler would have to show his reasoning, opening the SEC up to more costly legal battles that it could lose. Complain as they may, Gensler's foes may just have to accept that sometimes, no answer is an answer.

☆ Crypto exchange Coinbase posts smaller first-quarter loss
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 4 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) posted a smaller-than-expected first-quarter loss on Thursday after investors tiptoed back to the strained asset class to hedge their bets against a worsening economic backdrop. The San Francisco-based company's net loss narrowed to $78.9 million in the three months ended March, from $429.7 million in the year-ago quarter. On a per share basis, the company reported a loss of 34 cents a share, while analysts estimated a loss of $1.35 a share, sending its shares up nearly 7% in extended trading. Coinbase's shares, which lost 85% in 2022, rose nearly 40% this year up to Thursday's close as cryptocurrencies gain some ground. "This is the fourth crypto cycle that Coinbase has been through and we've emerged stronger after each one," Chief Executive Officer Brian Armstrong said.

☆ Coinbase launches international crypto derivatives exchange
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

May 2 (Reuters) - Coinbase Global Inc (COIN.O) launched an international exchange for cryptocurrency derivatives on Tuesday, as the company looks to expand its global footprint amid escalating tensions between the crypto sector and regulators in the United States. The exchange will let institutional users in eligible jurisdictions outside the U.S. to trade in perpetual futures, Coinbase said. The digital assets industry is recovering from several blow-ups last year, including the bankruptcy of Sam Bankman-Fried's crypto exchange FTX. "We would like to see the U.S. take a similar approach instead of regulation by enforcement, which has led to a disappointing trend for crypto development in the U.S.," the crypto exchange said. Separately, another crypto exchange Gemini on Tuesday launched a derivatives platform for trading perpetual futures, outside the U.S. jurisdiction.

☆ No 'immediate path forward': CFTC is talking to Binance after launching legal action, official says
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

A Commodity Futures Trading Commission official said Tuesday that she hopes to find a "path forward" in the regulator's legal battle with crypto exchange Binance, noting that no decision has been taken yet on whether to settle the case or take it to court. Kristin N. Johnson, commissioner at the CFTC, said that the regulator has been in conversations with Binance to address its concerns about the company's conduct. And I want to say that typically, in the context of any litigation, we are always ready to have conversations and typically even ahead of the litigation," Johnson said in an interview with CNBC's Arjun Kharpal Tuesday. "As of the moment, we can conclude that there is not an immediate path forward," she added. Her comments mark a rare statement on the Binance suit to media since the CFTC first announced it was suing the company on Mar.

☆ 'Crypto is dead in America' as US regulators target the sector for threatening the establishment, Chamath Palihapitiya says
▼ + stars: | 2023-04-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Crypto is paying the price for challenging the establishment, Chamath Palihapitiya said. "Crypto is dead in America," the so-called SPAC King said recently on the All-In podcast. "Crypto is dead in America," Palihapitiya said. Recent examples of the SEC's enforcement efforts include a February proposal to stop investment advisors from trading in crypto, and the threat of legal action against a number of Coinbase products. Meanwhile, Palihapitiya also lamented the SEC's enforcement rationale, claiming that it is excessively targeting a company that has a history of being regulation-friendly.

☆ 'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya
▼ + stars: | 2023-04-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

"Crypto is dead in America," Palihapitiya said in the latest episode of the All-In podcast. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws. "You had Gensler even blaming the banking crisis on crypto," Palihapitiya said. The SEC has ramped up its enforcement of the crypto industry, bearing down on companies and projects that the regulator alleges were selling unregistered securities. In early 2021, Palihapitiya predicted on CNBC that bitcoin would rise from $39,000 at the time to $100,000 and then up to $200,000.

LONDON, April 20 (Reuters) - Major U.S. crypto exchange Coinbase Global Inc (COIN.O) has said it has secured a licence to operate in Bermuda, as part of a wider push to expand globally. Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in "offshore" havens unless the U.S. and UK create "clarity about regulation" for crypto. Coinbase is planning to launch a crypto derivatives exchange in Bermuda as soon as next week, Fortune reported on Wednesday, citing a person close to the company. In March, derivatives trading volumes on major exchanges hit some $2.8 trillion, according to London researcher CCData, versus spot trading volumes of just over $1 trillion. Crypto firms say they need clarity about regulations, but Gensler has said that crypto markets "suffer from a lack of regulatory compliance, not a lack of regulatory clarity".

The tech company will begin its latest round of layoffs today, in its Facebook, WhatsApp, Instagram and Reality Labs units, according to Vox, with up to 4,000 positions possibly set to go. Disney will cut thousands of jobs next week, as part of the C.E.O. Commentators and investors said the moves were a long-awaited recognition that Goldman should focus on its strengths. The online chatboard company told The Times that it would start making others pay to use its application programming interface, the method that allows outside entities to download its vast offering of user discussions. projects by tech giants — which must be trained on huge amounts of data — as a reason for the move.

☆ Coinbase CEO says the crypto exchange is preparing to go to court with the U.S. SEC
▼ + stars: | 2023-04-18 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Last month, the SEC issued Coinbase with a Wells notice, which is often one of the final steps before the regulator formally issues charges. Brian Armstrong, CEO of Coinbase, called the issuing of the Wells notice "unfortunate" and said the company has not got any more information on the specific issues the SEC has. When asked by CNBC if Coinbase is prepared for a years-long battle with the SEC, Armstrong replied, "Absolutely." Brian Armstrong, CEO of Coinbase, slammed the U.S. Securities and Exchange Commission. Barclays said in a note this month that "regulatory overhang" on Coinbase's stock "increased meaningfully" when the SEC issued the Wells notice.

☆ I Visited Miami After the Stock Market Crash, Crypto Bubble Pop
▼ + stars: | 2023-03-26 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

And if any city is the city where you can see just how remarkably things have shifted, it's also Miami. If the draw in the 1920s was imaginary land, Miami's bubble in the 2020s was driven by imaginary money — crypto. The newcomers — and the crypto kids, especially — believed they could master Miami as easily as they had mastered the markets. The new Miami money party started to run out of libations. "There were a lot of true believers in the Miami crypto scene.

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