Crypto market decline cost Coinbase $1.1 billion in Q2
Since Coinbase went public on the Nasdaq Stock Exchange in April 2021, this is its largest quarterly net loss. The world’s largest cryptocurrency exchange, Coinbase, blamed a “fast and furious” decline in the cryptocurrency markets. It had a stunning $1.1 billion net loss in the second quarter of 2022, which also saw a decline in […]
Coinbase disputes claims of selling client data to US authorities
Coinbase emphasized that it only gives information for the sake of pursuing financial crimes and made it clear that the cryptocurrency exchange does not sell the personal information of its consumers. Reports claiming that the cryptocurrency trading platform Coinbase is selling the Department of Homeland Security’s Immigration and Customs Enforcement (ICE) with client information have […]
Coinbase allegedly provides customer geo-location data to ICE
According to a recent allegation, cryptocurrency exchange Coinbase has given Immigrations and Customs Enforcement (ICE) personnel a “suite of services” for following its client’s geo-location data and transactions. The report claims that ICE has been given access to Coinbase Tracer, an intelligence-gathering tool that offers a range of forensic data tracking capabilities. An administrative division […]
Coinbase seeks aggressive expansion in Europe amid crypto winter
Coinbase is expanding its operations into many European nations as they already have licenses to trade crypto in Uk, Ireland, and Germany. Vice president of Coinbase Nana Murugesan disclosed plans to register in Italy, Spain, France, and the Netherlands despite the company firing many employees and withdrawing job offers. The American-based cryptocurrency exchange has already […]
Goldman Sachs degrades Coinbase shares to “sell”
Goldman Sachs analysts downgraded Coinbase Global Inc. (COIN) shares after the stock price of the American cryptocurrency exchange collapsed. Goldman Sachs analysts have downgraded Coinbase Global Inc. (COIN) shares after the exchange’s core business was negatively impacted by falling cryptocurrency prices, highlighting the difficulties the bear market presents. According to Goldman analyst William Nance, the […]