Credora Raises $6M from Coinbase and S&P Global to Build Transparent Credit Markets for Decentralized Finance
Fintech startup Credora, which focuses on decentralized finance (DeFi), has raised $6m in a strategic funding round featuring Coinbase and S&P Global as major investors. The firm, which monitors $4bn of borrower assets across the majority of centralised finance and DeFi platforms, plans to use the funds to build "transparent credit markets". Credora aims to underwrite and monitor borrowers by validating financial information in real-time while keeping sensitive details private. According to the start-up, a lack of transparency and information asymmetry has been a root cause of recent credit events, including the collapse of digital asset hedge fund Three Arrows Capital, which invested client cash in new crypto projects. Credora claims that its privacy-preserving technology can help prevent such failures in the future. The firm also plans to use the funds to build institutional rails for credit and enhance its private computation technology for underwriting and monitoring borrowers. Other investors in the round include Amber Group, CMT Digital, GSR, Hashkey, KuCoin Ventures, and Spartan.
MyEListing, With Help from Coinbase Commerce, Creates World’s First Place to Trade US Real Estate With Crypto
MyEListing.com, a free commercial real estate listings and data platform, has partnered with Millennial Title, and Championship Title to create a marketplace where anyone in the world can buy and sell US residential & commercial real estate with crypto via an integration with Coinbase Commerce, and close within one business day.
Coinbase (COIN) Price Shoots Pre-Market Amid Uncertain Regulatory Battle
Coinbase Global Inc's move to take the battle against the SEC's unclear crypto regulations to court has resulted in a surprising surge of over 4% in pre-market trading. The price of COIN saw a jump of 2.08 points before the market opened, indicating that investors are positive about the exchange's recent action. Coinbase's stock closed trading at $55.55 on the previous day.
Former Coinbase Employee Seeks to Limit Jail Term to 10 Months in Insider Trading Case
Former Coinbase product manager Ishan Wahi has requested a sentence of no more than 10 months in jail for insider trading charges, according to court filings. Wahi pleaded guilty to two counts of conspiracy to commit wire fraud by sharing details of future Coinbase crypto token listings with his brother and another contact. A plea deal suggested a sentence of three to four years in jail, with a fine in the range $15,000-$150,000. Wahi's sentencing hearing is scheduled for May 9 in New York.
Auction of Celsius Network’s Assets Has Been Adjourned Until Tomorrow
April 26 (Cointime) -
The official committee of unsecured creditors for Celsius has announced that the auction of Celsius Network’s assets has been adjourned until tomorrow.
Crypto Morning Briefing: Binance.US Backs Out of Voyager Asset Purchase Deal
Meta's Q1 Profits Plunge 30%, Pivots to AI for Metaverse Growth Amid TikTok Pressure; Coinbase Goes Offensive Against The SEC With Lawsuit Targeted At Regulatory Clarity; Venom Foundation Announces the Release of its Public Testnet; TerraCVita Plans to Relaunch Terraport on Terra Classic After Certik Audit
Coinbase Goes Offensive Against The SEC With Lawsuit Targeted At Regulatory Clarity
The Securities and Exchange Commission (SEC) regulatory approach has come under fire by crypto executives and commentators in recent months after the commission filed actions against firms without clear-cut regulations.
Crypto Evening Briefing: S Korean MPs to Create Law that Distinguishes CBDCs from Crypto
South Korea is reportedly moving closer to launching a central bank digital currency (CBDC), with a new draft law set to create legal terminology for CBDCs.
Crypto Community Split on Coinbase NFT’s Push for ‘Sensible Crypto Policy’
Coinbase has launched an NFT campaign called "Stand with Crypto" after filing a court action to compel the SEC to answer its rulemaking petition. The NFTs represent the community's stand to protect and promote crypto's potential and become the symbol for seeking sensible crypto policy. However, some have expressed criticism, with some uncertain about the NFTs' impact and others pointing out that similar pushes for crypto-friendly regulation have been made before. Nevertheless, the campaign has garnered considerable support, with over 15,000 mints and more than 7,000 owners according to NFT marketplace OpenSea. Coinbase has been pushing for pro-crypto policy in the US, launching a grassroots campaign in February to support the advancement of crypto and Web3.
XRP Lawyer Bids In For Coinbase Referring His XRP Case Filing
Coinbase has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) in an attempt to gain regulatory clarity for digital assets. XRP holders' lawyer in the Ripple lawsuit, John Deaton, showed support for Coinbase by referring to his own filings against the SEC. Deaton highlighted the Coinbase petition as his first writ of Mandamus was also against the SEC, and stated that this is the second writ of Mandamus filed which involves crypto. In his own lawsuit, Deaton sued the commission asking a court to order the SEC to perform its job, and asked the judge to amend Ripple's complaint to just include direct sales done by them.
