Coinbase Global (COIN), the largest cryptocurrency exchange in the country, reported its seventh consecutive quarterly loss as both its trading volumes and number of users declined. Investors responded by pushing the company’s stock down as much as 5% in after-hours trading, following a nearly 9% increase during regular trading hours on Thursday. However, Coinbase’s third-quarter …
The way Securities and Exchange Commission Chair Gary Gensler is regulating cryptocurrency is a chaotic mess. Digital-coin exchanges are granted approval by the commission to go public, only to later be sanctioned for selling crypto that the agency doesn’t approve of. It’s unclear whether Gensler actually has the legal authority to intervene in this manner, …
In yet another blow to the cryptocurrency industry, the Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase, the largest cryptocurrency exchange in the United States. The SEC alleges that Coinbase has been operating as a securities exchange without registering as one, making billions of dollars illegally facilitating the buying and selling …