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The U.S. Securities and Exchange Commission on Monday took aim at Binance, the world's largest cryptocurrency exchange. 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. More recently, it has taken aim at unregistered crypto broker dealer, exchange trading and clearing activity. Reuters GraphicsFounded in 2012, Coinbase recently served more than 108 million customers and ended March with $130 billion of customer crypto assets and funds on its balance sheet. Tuesday's SEC lawsuit seeks civil fines, the recouping of ill-gotten gains and injunctive relief.

Persons: Binance, Changpeng Zhao, Kevin O’Brien, Ford O’Brien Landy, Coinbase, Nansen, Paul Grewal, Coinbase's, Gary Gensler, Dado Ruvic, Gensler, Kristin Smith, Jonathan Stempel, Hannah Lang, Michelle Price, Lisa Shumaker, Leslie Adler Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Global, Securities, Supreme, Exchange, REUTERS, Beaxy Digital, Bittrex Global, CNBC, Blockchain Association, Reuters Graphics, U.S, Thomson Locations: Manhattan, Solana, Cardano, U.S, Binance, New York, Washington

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

☆ Bitcoin rises after SEC sues Coinbase alleging it acted as an unregistered broker
▼ + stars: | 2023-06-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Cryptocurrency prices were slightly higher Tuesday after the Securities and Exchange Commission sued crypto services provider Coinbase. On Tuesday, the SEC filed a lawsuit in New York federal court alleging that Coinbase has been acting as an unregistered broker and exchange. The news came one day after the SEC alleged that Binance, the largest crypto exchange in the world by volume, and its co-founder, Changpeng Zhao, violated securities laws. Since January, the SEC has charged Kraken, Genesis and Gemini Trust with offering unregistered securities to investors. It also issued a Wells Notice to Coinbase earlier this year warning the company of potential securities charges.

Persons: Bitcoin, Ether, Coinbase, Gary Gensler, Polygon's, Binance, Changpeng Zhao, Matt Hougan Organizations: Securities and Exchange Commission, Coinbase, Metrics, SEC, Solana, . U.S, Gemini Trust, Bitwise Asset Management, CNBC Locations: New York, .

☆ Bitcoin is on track for its first monthly drop of the year, stalling 2023's huge rally as macro uncertainty builds
▼ + stars: | 2023-05-31 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

The European Central Bank is tightening as well to combat surging prices, with rates at levels not seen since the Great Financial Crisis in 2008. In addition, central bank tightening can also lead to a decline in bitcoin prices." "There's no doubt that bitcoin's price as well as wider crypto market movements are directly impacted by the US Federal Reserve and central bank policies. "We can therefore expect a continued disenfranchisement with the US dollar and uptake of bitcoin and other crypto assets. This will be reflected in price and we can surely expect upward price movements in bitcoin, even in 2023," Caselin told Insider.

Persons: Bitcoin, —, Tacking, Christine Lagarde, Birgham Santos, Santos, Ben Caselin, bitcoin, Caselin Organizations: Service, Traders, Federal, European Central Bank, Lama, US Federal Reserve Locations: solana, bitcoin

☆ 'He lied to us about what he was doing and who he was': Anthony Scaramucci reflects on the top 3 lessons he wants all investors to learn from his experience with Sam Bankman-Fried.
▼ + stars: | 2023-05-19 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Anthony Scaramucci's investment firm SkyBridge Capital had a rough run in 2022 after being burned by the collapse of the bankrupt crypto exchange FTX. Scaramucci told Insider that the amount of leverage in the system and the tax-loss selling in December depressed their overall performance. Still, there are spillover effects — and lessons — from last year's debacle with FTX that Scaramucci and SkyBridge are working through. Lessons learned from the FTX debacleLast year, Sam Bankman-Fried through FTX, the crypto exchange he founded, bought 30% of SkyBridge for $45 million. And finally, as the majority shareholder of the firm, Scaramucci holds the right of refusal to reject any transfer of the shares.

☆ Bitcoin surges 9% toward key level of $30,000 as crypto market rallies amid fresh banking sector fears
▼ + stars: | 2023-04-26 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

The rally comes as First Republic Bank stokes fresh fears over weakness in the banking sector. Investors are also adding risk as they anticipate a Fed pivot, a crypto exec told Insider. First Republic Bank stock nosedived almost 50% on Tuesday and lost another 20% Wednesday, hitting a record low, after reporting higher-than-expected customer deposit withdrawals. Bitcoin rallied through the turmoil in March as Silicon Valley Bank failed, and industry observers said a similar situation is playing out for the world's largest crypto amid the latest bout of uncertainty. Another crypto exec echoed similar sentiments, adding that the slew of bank failures like Silicon Valley Bank last month made investors question the stability of traditional financial services.

REUTERS/Dado Ruvic/File PhotoApril 11 (Reuters) - Investors are finally set to gain access to more than $33 billion of ether this week under a planned revamp of the blockchain. A new software upgrade to the Ethereum blockchain, dubbed Shapella, will let market players redeem their "staked ether" - coins they have deposited and locked up on the network over the past three years in return for interest. About 15% of all ether is staked, totaling $33.73 billion in market value, according to data from Dune Analytics. "It seems unlikely, therefore, that much of the staked ether will be sold," Rangar added. Following the upgrade, staked ether will no longer be locked up on the blockchain, so investors may be more willing to stake coins.

☆ Michael Saylor's MicroStrategy snaps up another 6,455 bitcoin as token rallies, bringing its total holdings to $3.88 billion
▼ + stars: | 2023-03-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

MicroStrategy bought 6,455 bitcoins for about $150 million in the last five weeks, an SEC filing showed. MicroStrategy also paid off the remaining principal on a $205 million loan from the failed Silvergate Bank. All together, those holdings are worth about $3.88 billion, at the current bitcoin price of about $27,900. The total MicroStrategy paid was $161 million. "MicroStrategy repaid its $205M Silvergate loan at a 22% discount," Saylor tweeted on Monday.

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.

☆ Maps: The devastating earthquakes in Turkey and Syria
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +12 min

Terrain map showing the 7.8- and 7.5-magnitude earthquakes near the eastern border of Turkey and Syria. A woman stands near rubble and damage in Gaziantep, Turkey, Feb. 7, 2023. REUTERS/Firas Makdesi A section of the earthquake damaged D420 road in Demirkopru, Turkey, Feb. 8, 2023. REUTERS/Umit Bektas A man walks past a partially-collapsed building in Pazarcik, Turkey, Feb. 9, 2023. REUTERS/Suhaib Salem People inspect the damage as rescuers search for survivors in Hatay, Turkey, Feb. 8, 2023.

The checking is not done by individuals, but by computers in the blockchain network, often via third-party staking services. Nearly all of the major crypto exchanges offer staking services to their customers for a variety of tokens, including Coinbase (COIN.O), Binance, Crypto.com, Gemini, Huobi and OKX. The SEC has said most staking providers fail to provide customers proper disclosures about how their cryptocurrency will be used and should register their staking services with the agency. In its settlement with the SEC on Feb. 9, Kraken neither admitted nor denied the SEC's claim that its staking service should have been registered. Kraken said it would continue to offer staking to customers based outside of the United States.

☆ Crypto protection and insurance startup Coincover just raised $30 million in fresh funds. Check out the 18-slide pitch deck it used to land the cash.
▼ + stars: | 2023-02-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Cryptocurrency protection and insurance startup Coincover just raised $30 million in funding. Check out the 18-slide pitch deck it used to land the fresh capital below. A startup that offers protection to crypto users against issues like loss of access to their digital assets has raised $30 million in fresh funds. The deal takes Coincover to $41.6 million in funds raised to date. Check out the 18-slide pitch deck Coincover used to raise the funds below:

☆ Coinbase CEO points to rumors that the SEC could ban this popular crypto income-generating technique for US retail investors
▼ + stars: | 2023-02-09 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Coinbase's Brian Armstrong flagged rumors that the SEC may want to ban crypto staking for retail investors. Staking is a popular way for customers to earn yield in exchange for locking up their crypto assets. The SEC has repeatedly stated that most digital tokens could be regulated as securities. For the unititated, staking gives a crypto holder financial rewards for locking up their assets and confirming transactions on a blockchain's network. It allows users to participate directly in running open crypto networks," Armstrong tweeted.

☆ Elon Musk is changing Twitter so much, even investor Marc Andreessen is getting upset and complained to him directly
▼ + stars: | 2023-02-04 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Issues with how Twitter looks and operates have been frequent since billionaire Elon Musk took over. Investor Marc Andreessen invested in Musk's takeover and is said to have complained directly to him. Twitter CEO Elon Musk is pushing so many changes to the social media site so fast that high profile users, Musk fans, and even some of his investors are complaining. Representatives of Twitter and Andreessen Horowitz did not respond to requests for comment. "Musk knows it's bad right now, but it's going to get better over time," a person familiar with Twitter said.

☆ Bitcoin’s popularity with developers shrunk last year while Ethereum’s flourished. Here’s what that means for investors
▼ + stars: | 2023-01-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Crypto prices suffered badly in 2022, but developer activity for the year paints a more optimistic picture for investors. That puts developer growth at 9% for the year, the report showed, even as the price of ether dropped 67%, according to Coin Metrics. Its price collapsed 50% last year, but the strength of its developer community gave investors hope it would pull through. Meanwhile, bitcoin's developer population shrunk 4%, though it's still the fifth largest in the market at 300 full-time builders. Why it matters for investors Developer activity is an indicator of a network's utility and potential for end users.

☆ FTX says $415 million in crypto was hacked
▼ + stars: | 2023-01-17 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloJan 17 (Reuters) - Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen as a result of hacks. Some $323 million in crypto had been hacked from FTX's international exchange and $90 million had been hacked from its U.S. exchange since it filed for bankruptcy on Nov. 11, CEO John Ray said in a separate statement on Tuesday. FTX told a bankruptcy judge in Delaware last week that it had recovered over $5 billion in crypto, cash and liquid securities, nine weeks after declaring bankruptcy. The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022.

Jan 17 (Reuters) - Bitcoin is on the charge in 2023, dragging the crypto market off the floor and electrifying bonk, a new meme coin. Few crypto tokens have benefited more than bonk, which was launched at the end of December on the Solana blockchain and had rocketed 5,000% by early January. Other meme tokens are also up, with dogecoin and Shiba Inu up 19% and 27% respectively in 2023. The Solana token has now indeed jumped as bonk has gained traction: it's up 131% in 2023, the biggest gainer among major cryptocurrencies. The dollar value of bitcoin trading volumes on major exchanges over a 7-day period jumped to $151 million, the highest in nearly two months, according to data from Blockchain.com.

DAVOS, Switzerland, Jan 16 (Reuters) - SkyBridge Capital is betting on a sustained turnaround in cryptocurrency markets in 2023, the firm's founder Anthony Scaramucci said, while admitting this view was "overly bullish". "If bitcoin could trade back to $35,000, SkyBridge is going to have an amazing year," Scaramucci told the Reuters Global Markets Forum in Davos, Switzerland. Bitcoin is trading at around $20,800, a 26% gain so far this year after falling by more than 64% in 2022. SkyBridge has invested in bitcoin, ethereum , solana and altcoin algorand , and is also eyeing the structured credit market to drive 2023 returns after the firm's losses in 2022. "Structured credit, mortgage-backed securities, credit card debt, auto loans -- that's an attractive space again," Scaramucci said.

☆ The DOJ is investigating whether 2 crypto developer brothers used 11 fake identities to triple-count deposits, report says
▼ + stars: | 2023-01-12 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

The DOJ is investigating two brothers behind a solana stablecoin exchange over alleged fraud, CoinDesk reported. The Macalinao brothers reportedly crafted 11 fake identities to triple-count crypto deposits to create a fake De-Fi ecosystem. The crypto industry is under heavy scrutiny following the collapse of Sam Bankman-Fried's FTX exchange. The investigation follows CoinDesk's earlier exposé in August which revealed the Macalinao brothers crafted a fake decentralized finance ecosystem by passing the triple-counted deposits between themselves. "The metric to optimize for in Summer 2021 was [total value locked (TVL)]" Ian Macalinao wrote in an unpublished blog discovered by CoinDesk.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSolana soars 22%, and court docs reveal DOJ seized FTX-linked Robinhood shares: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, George Kaloudis, a research analyst for CoinDesk, discusses the findings of a report highlighting crypto's progress last year and how the FTX collapse impacted markets.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSolana prices fall, and New York AG accuses Celsius ex-CEO of defrauding investors: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bradley Duke, the co-CEO of ETC Group, weighs in on the new ruling that could make Celsius customers last in line to collect funds from the bankrupt crypto lender. He also discusses whether the industry currently has enough consumer protections in place.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSolana soars 16%, SBF pleads not guilty, and why cold storage usage is growing: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World explores growing usage of cold storage as trust in crypto exchanges falls.

☆ Sam Bankman-Fried-backed Solana soars after ecosystem sees shiba inu-themed token airdrop
▼ + stars: | 2023-01-03 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Solana soared as much as 20% in the past day on news of a Bonk token airdrop. After losing nearly all its value in 2022 as Sam Bankman-Fried's crypto empire collapsed, solana ended a streak of nine consecutive losses. The Bonk airdrop is likely being used for Solana-based non-fungible tokens. After losing nearly all its value in 2022 as Sam Bankman-Fried's crypto empire collapsed, solana finally ended a streak of nine consecutive days of losses. Of the Bonk tokens being airdropped, roughly 20% could be used for an ecosystem of 297,000 Solana-based non-fungible tokens and 10% could go to Solana-based artists, according to CoinDesk.

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