Coinbase submits petition to SEC, seeks to exclude staking from security law

In an appeal to the U.S. Securities and Exchange Commission (SEC), Coinbase asked that staking services be treated equally as securities be reexamined.

In an appeal to the U.S. Securities and Exchange Commission (SEC), Coinbase asked that staking services be treated equally as securities be reexamined.

Balaji Srinivasan has taken a bet initiated by pseudonymous Twitter user James Medlock on BTC’s price over the next 90 days, predicting the price would reach $1 million by June 17.

Reportedly, Coinbase is actively discussing its non-US-based expansion plans with international clients.

Three wallets connected to FTX and Alameda Research have reportedly transferred stablecoins valued $145 million.

Coinbase disclosed it had around $240 million in corporate funds at the bank that it expected would be fully recovered.

Coinbase notes that users earn rewards from the decentralized protocols, and not from the exchange itself.

Concerns that Circle, the entity that created the USDC stablecoin, might have kept some of USDC's cash reserves at Silicon Valley Bank, which California's financial watchdog shut down on Friday, prompted the steps.

49,000 Bitcoin were transferred to Coinbase by US government law enforcement from the Silk Road criminal proceeds.

Under acquisition terms, ORDAM will continue to function as an independent entity under Coinbase, separated from their trading and exchange businesses.

Silveragte is facing a probe by the US DOJ over its involvement with the bankrupt FTX exchange and Alameda Research.