Coinbase is looking for a new hire to manage the exchange’s sour relationship with policymakers. The United States-based crypto exchange aims to swell its legal and compliance team ranks. The company is looking for more than 350 new hires, with 24 job openings within the legal and compliance team. More specifically, Coinbase is seeking a new manager to oversee communications with U.S. policymakers. Along with a strong network in Washington D.C, Coinbase expects its new U.S. policy communications manager, who would lead its media relations and strategic presence in critical policy debates, to have “excellent political judgment.” Better communication with …
Amid a fraught period for some high-profile United States crypto firms and financial regulators, Kraken chief legal officer Marco Santori is calling for a dose of pragmatism going forward. Speaking on Bloomberg’s QuickTake Stock broadcast on Thursday, Santori told viewers, “You’re living in a fantasy world if you don’t believe that this industry is going to face heavier, more Wall Street-like regulation from governments in the U.S. and abroad.” Santori’s comments follow threats by the U.S. Securities and Exchange Commission earlier this month to sue the well-known crypto exchange Coinbase over a crypto yield program the commission deemed to be …
A Coinbase shareholder has filed a securities class action against Coinbase for allegedly misleading investors ahead of its public listing about the company’s financial state and resilience as a crypto trading platform. Filed by law firm Scott + Scott in the California Northern District Court on Thursday, the class action names Coinbase shareholder Donald Ramsey as a plaintiff, both individually and on behalf of all other investors similarly situated. Ramsey is pursuing his claims under the United States Securities Act and has presented evidence drawn from Coinbase’s regulatory filings with the U.S. Securities and Exchange Commission, company press releases, analyst …
JPMorgan Chase, the United States’ largest bank, has reportedly taken on U.S. cryptocurrency exchanges Coinbase and Gemini as customers. A report from the Wall Street Journal on May 12 cited unnamed sources apparently familiar with the matter, who highlighted that the move is the first time the banking giant has served clients from the crypto industry. Both exchange accounts were reportedly accepted in April, with transactions now starting to be processed, sources told the WSJ. JPMorgan Chase is not processing Bitcoin (BTC) or other cryptocurrency transactions on behalf of the exchanges but is providing cash-management services and handling dollar transactions …
Crypto exchange Coinbase saw a huge fall in its transaction revenues in the third quarter after activity fell amid a broader market downturn, but managed to cut its losses in half compared to the prior quarter. In its shareholder letter released Nov. 3, the company shared that transaction reven had fallen from $655.2 million in the second quarter to $365.9 million, representing a decline of 44%. The company cited poor macro conditions with daily average crypto market capitalization falling 30% and trading volumes shifting away from the United States due to the lack of regulatory clarity as reasons for the …