Cointime December 30th News Express
1.FTX Founder Sam Bankman-Fried Will Not Face Second Criminal Trial, Federal Prosecutors Say
Cathie Wood’s ARK Invest reduced its holdings of 3,734 Coinbase shares on December 29
According to data from Ark Invest Daily, Cathie Wood's ARK Invest sold 3,734 shares of Coinbase stock worth about $640,000 on December 29.
Coinbase Custody replaces CEO to prepare for spot Bitcoin ETF
A spokesperson confirmed that Aaron Schnarch, the CEO of Coinbase Custody, has resigned in recent weeks. Rick Schonberg will take over his position. Schonberg has been working at Coinbase since 2021 and previously worked at Goldman Sachs, Deutsche Bank, and Tagomi. A Coinbase spokesperson stated in a statement, "We are well-prepared for the approval of ETFs."
Coinbase CEO: Plans to provide multi-user support for enterprises
Coinbase CEO Brian Armstrong responded to questions from the cryptocurrency community on social media, revealing that Coinbase is planning to provide multi-user support for businesses and asking community users which key features are currently missing if Coinbase is used as a replacement for banks.
Coinbase Chief Policy Officer: U.S. Senator Warren’s accusations are completely false and will continue to advocate for regulatory measures in the encryption industry
On December 24th, according to Cointelegraph, Coinbase denied the allegations made by US Senator Elizabeth Warren that it hired former government officials to hinder the progress of digital asset regulation. In a letter on December 22nd, Coinbase's Chief Policy Officer Faryar Shirzad responded: "Your claim that Coinbase is trying to undermine bipartisan legislation related to cryptocurrency is completely false. Your allegations are not only unfounded, but intentionally distorted our intentions and efforts."<br>Shirzad also stated that the exchange's recruitment of government personnel is part of a broader effort to protect the welfare of American crypto users. "We are immensely proud of our national security team, who are dedicated to protecting Americans every day,"
Cryptocurrency firms invest $78 million in political action committee Fairshake to channel support for cryptocurrencies
Cryptocurrency companies have significantly increased their donations to US politicians. Companies such as Coinbase, Circle, and a16z have invested $78 million in Fairshake, a federal super PAC that can receive unlimited funds from corporations and individuals for elections, with the goal of guiding "cryptocurrency-friendly leadership." Coinbase Chief Policy Officer Faryar Shirzad said, "We will do everything we can to depoliticize cryptocurrency." "Our lobbying, grassroots work, and now Fairshake will create space for the public to debate its benefits, rather than our industry being used as a political football by those who do not understand the social benefits of this technology."
ARK Invest once again reduced its holdings of Coinbase shares worth $16.45 million on Friday
On December 24th, Cathie Wood's ARK Invest continued to sell Coinbase stocks on Friday (December 22nd), selling a total of 93,745 shares worth approximately $16.45 million, as reported by Ark Invest Daily.
Coinbase will suspend trading of Aragon (ANT) tokens on January 5
According to a report from Jinse Finance, Coinbase has announced that trading of Aragon (ANT) will be temporarily suspended at around 11am Eastern Time on January 5, 2024. The Aragon Association previously stated that ANT holders could exchange their tokens for ETH until November 2, 2024, but Coinbase does not support ANT/ETH exchanges. If users still hold ANT after the trading suspension, they will need to use the official exchange portal and compatible self-custody wallets provided by the Aragon team to make the exchange.
Coinbase Secures VASP License in France for Crypto Services Expansion in Europe
Coinbase, a major American crypto exchange, has obtained a virtual asset service provider (VASP) license in France, allowing it to offer crypto services in the country and expand further into Europe. French users can now buy or sell supported cryptocurrencies using legal tender or other crypto assets, as well as access retail and institutional services, including custody. Coinbase's expansion strategy prioritizes countries with defined regulations around the cryptocurrency sector, and it plans to replicate its efforts across the globe. The exchange also notes its support for the EU's Markets in Crypto-Assets (MiCA) regulation and has selected Ireland as its central regulatory hub for the entire EU region.
ARK Invest extends Coinbase stock sales to $196.8 million in December
ARK Invest, the investment firm led by Cathie Wood, has continued to sell off its Coinbase stock, with December sales totaling $196.8 million. The firm often reduces its holdings in individual companies as their shares rise, in order to maintain a maximum exposure of around 10%. ARK Invest also reduced its holdings in the Grayscale Bitcoin Trust, while increasing its holdings in Block, which offers payments in cryptocurrency. Bitcoin has rallied 3.3% and crossed $44,000 for the first time in 10 days.
