Coinbase Faces Risks Despite Surge in Shares Following BlackRock’s Bitcoin ETF Application: Berenberg
June 30 (Cointime) - Shares of Coinbase (COIN) have risen by over 30% since June 15, following news that Blackrock (BLK) applied for a spot bitcoin (BTC) exchange-traded-fund (ETF), outpacing the 20% increase in bitcoin's price over the same period.
SEC to Respond to Coinbase's Legal Defense on July 13
June 30 (Cointime) - The SEC will present its response to Coinbase's legal defense on July 13, which is earlier than expected due to Coinbase's "creative" defense tactic of filing its response 40 days early. The SEC asked for a three-day extension due to the July 4 holiday weekend, which was granted by the court. The court also converted the pre-trial conference to a pre-motion conference and pushed it forward to July 13. Coinbase argues that many of the tokens highlighted in the SEC's case fall outside the Commission's purview and its tactic to advance the case via a motion for judgment on the pleadings is seen as a "creative strategy."
Coinbase's Base Protocol Nears Mainnet Launch After Passing Rigorous Security Audits
June 30 (Cointime) - Coinbase's Base protocol, a layer 2 application-focused protocol, has completed six months of rigorous security audits, both internally and externally, with no critical code bugs found. The completion of these audits means that Base has fulfilled 4 out of 5 criteria required for mainnet launch. The final criteria, demonstrating "testnet stability," is yet to be fulfilled, but Base has built Pessimism, an open-source monitoring tool that aims to notify builders of any anomalies that may arise in the protocol. Base aims to be a low-cost, secure, and developer-friendly network for building decentralized applications.
Coinbase's Ethereum Layer-2 Network Base Passes Extensive Security Audit Ahead of Mainnet Launch
June 29 (Cointime) - Coinbase has announced that its Ethereum layer-2 network, Base, has undergone extensive security testing ahead of its mainnet launch. Over 100 security researchers participated in an audit contest, examining various parts of the network's architecture for vulnerabilities.
Coinbase Argues SEC Cannot Retroactively Regulate Digital Asset Exchanges
June 29 (Cointime) - Coinbase has filed a court document stating that the SEC lacks proper jurisdiction to retroactively regulate digital asset exchanges. The document argues that only Congress has the power to regulate digital assets and that there have been no changes to Coinbase's business that would warrant the SEC's action. Coinbase also points out that the staking service the SEC claims is in violation of the Securities Act of 1933 has been offered since at least 2012.
Americans Want Safe, Regulated Crypto Products Including Spot Bitcoin ETFs, Says Coinbase Chief Legal Officer
June 29 (Cointime) - Coinbase's Chief Legal Officer, Paul Grewal, believes that Americans are seeking safe and regulated crypto products, including spot bitcoin ETFs. Grewal's comments come as several companies, including BlackRock, Invesco, WisdomTree, Valkyrie Funds, and ARK Invest, have filed applications for a spot bitcoin ETF.
XRP, ADA, and ALGO Investors May Join Coinbase's Defense in SEC Lawsuit, Says XRP-Friendly Lawyer
June 29 (Cointime) - XRP, ADA, and ALGO investors may come to the defense of Coinbase, as suggested by XRP-friendly lawyer John E. Deaton. Coinbase has filed a motion to dismiss the SEC lawsuit against it, using the Major Questions Doctrine, which Deaton believes is a strong legal argument.
XRP Holder's Lawyer Weighs in on Coinbase's Motion to Dismiss SEC Lawsuit
June 29 (Cointime) - Coinbase has filed a motion to dismiss the lawsuit filed against it by the SEC, which has been met with reactions from industry leaders. John Deaton, a lawyer representing XRP holders, believes that Coinbase's argument "has teeth" and laid down six points to support his view.
Coinbase Responds to SEC Lawsuit, Claims Regulator Is Overreaching
June 29 (Cointime) - Coinbase has responded to the SEC's lawsuit by arguing that the regulator has overreached its jurisdiction by coming after the crypto exchange. The firm claims that none of the digital assets listed on its platform falls within the SEC's purview and that the assets highlighted by the SEC are not investment contracts and therefore do not qualify as securities.
Asset added to the Coinbase Roadmap today: Helium ($HNT)
June 29 (Cointime) -According to Official Media, Asset added to the roadmap today: Helium (HNT).The Solana network (SPL token) contract address for Helium (HNT) is hntyVP6YFm1Hg25TN9WGLqM12b8TQmcknKrdu1oxWux.
