The BALD Memecoin's Connection to Coinbase and Rumors of Insider Trading
The value of the relatively new memecoin BALD has surged by an incredible 10,000% in recent weeks, causing excitement and caution among investors. This particular memecoin is unique in its compatibility with BASE, a new blockchain developed by Coinbase crypto exchange. Rumors have emerged linking BALD to the CEO of Coinbase, Brian Armstrong, due to a large supply of $cbETH in possession of an unknown whale. However, there is currently no concrete evidence linking Armstrong directly to BALD memecoin, and any connections should be treated as speculative without verified evidence.
UK Gang Jailed for £4.6m Drug Operation Laundered Through Coinbase
A UK court has sentenced a gang of 12 individuals to a combined 88 years in prison for running a £4.6 million ($5.2 million) drug operation and laundering profits through Coinbase. The gang's leader, Amir Khan, converted £1.65 million ($2.1 million) of the funds into cryptocurrency, making it difficult to recover some of the funds. One of Khan's co-leaders, Joshua Billingham, received a 14-year, eight-month sentence, while Stacey Challenger, who laundered £300,000 and conspired to turn it into cryptocurrency, received just one year in prison. The case is one of the first in Gwent where cryptocurrency was used to launder money.
Data: The Address Starting With 0xfabb Transferred About 3.7 Million OPs to Coinbase
According to the monitoring of Ember, a data analyst on the chain, 7 addresses transferred a total of about 3.7 million OPs (approximately US$5.52 million) to the address starting with 0xfabb 9 hours ago, and then transferred 3.7 million OPs to Coinbase at the address starting with 0xfabb. The OPs of these 7 addresses were all transferred in on August 17 from the address starting with 0x123 marked by Nansen as OP Labs. The last time these addresses were transferred out was on May 31, when OP core contributors (teams) and investors unlocked for the first time, 86.6 million OPs were transferred to Coinbase.
Data: 1950 BTC Transferred From Unknown Wallet to Coinbase
According to Whale Alert monitoring, 1,950 BTC (worth approximately $56,922,359) were transferred from an unknown wallet to Coinbase.
Cathie Wood: Bitcoin's Rally During US Bank Collapse Proves It's the Future of Money
Cathie Wood, CEO of ARK Invest, believes that Bitcoin's significant price increase after the collapse of US regional banks is a clear indication that it is the future of money. Wood cites three reasons for her bullish outlook on digital assets, including the potential for Bitcoin to dominate the "money revolution" as a safe store of value.
Twitter Co-Founder Presses Coinbase CEO on Ignoring Bitcoin's Lightning Network
Coinbase CEO Brian Armstrong faced questioning from Twitter co-founder Jack Dorsey over his alleged disregard for Bitcoin's lightning network, a layer-2 scaling solution designed to make BTC easier to spend. Armstrong claimed that the next step for crypto was to make payments "instant and free globally" through collective work on layer 2 solutions and user onboarding. While Armstrong did not respond to Dorsey directly,
Coinbase CEO Urges Americans to Support Crypto Regulation Bill FIT21
Coinbase CEO Brian Armstrong is calling on US citizens to email their representatives and urge them to vote "yes" on the Financial Innovation and Technology for the 21 Century Act (FIT21), which could provide regulatory clarity for the crypto industry. The bill, which was voted in favor by lawmakers on July 26 along with the Blockchain Regulatory Certainty Act, aims to provide clarity for crypto firms and differentiate between securities and commodities regulators. Armstrong believes that this vote will protect Americans' digital assets, innovation, and national security. Additionally, the bill has the potential to promote job opportunities in the country, which may encourage US-based crypto companies to stay and employ local talent.
Data: Binance Spot Market Share Drops From 64% at the Beginning of the Year to 50%
Blockchain analytics firm Kaiko reported that Binance’s spot market share fell to 50 percent from 64 percent earlier this year, down 22 percent over the past seven months. During the same period, Coinbase experienced a similar fate, with its market share dropping from 8% to 5.5%.
BlackRock and other financial firms compete to launch first Bitcoin ETF with Coinbase as key partner
BlackRock and other major players on Wall Street are vying to offer the first Bitcoin ETF on the spot market, with Coinbase as their surveillance-sharing partner and custodian. Despite facing a lawsuit from the SEC over unregistered securities, Coinbase is still considered a legitimate and crucial institution by those competing in the ETF race.
Craig Wright Ordered to Pay £400,000 in Security for Legal Costs in Crypto Lawsuit Against Coinbase and Kraken
Australian computer scientist Craig Wright, who claims to be the creator of Bitcoin, Satoshi Nakamoto, has been ordered by a UK judge to pay £400,000 ($516,000) in security for legal costs to pursue claims against crypto exchanges Coinbase and Kraken. The judge expressed doubts about Wright's ability to fund the legal costs, citing inconsistent statements about his financial position. Wright alleges that Coinbase and Kraken are damaging the brand of his rival cryptocurrency, Bitcoin Satoshi Vision (BSV). The exchanges have welcomed the ruling as a win in their defence against Wright's claims.
