SEC can proceed with Coinbase lawsuit: court ruling

cointelegraphPubblicato 2024-03-26Pubblicato ultima volta 2024-03-27

A United States court has denied Coinbase’s motion to dismiss the United States Securities and Exchange Commission’s (SEC) case against the exchange.

The decision, made by U.S. District Judge Katherine Failla, allows the SEC to pursue its lawsuit against Coinbase, which alleges that the exchange operates as an unregistered exchange, broker, and clearing agency, according to March 27 court documents, that state:

“The Court finds the SEC has sufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws, and through its Staking Program engages in the unregistered offer and sale of securities.”

The SEC sued Coinbase in June 2023 alleging that the crypto exchange violated federal securities laws by listing 13 tokens it alleged were securities. The firm was seeking an order to drop the case, questioning the SEC’s authority over crypto exchanges.

Related: Coinbase asks court to reject SEC’s ‘empty chair’ securities judgment

This is a developing story, and further information will be added as it becomes available.

Letture associate

Coinbase Launches Crypto-Backed USDC Loans For UK Users In Latest Expansion

Coinbase has expanded its crypto-backed USDC lending service to UK residents, allowing them to use Bitcoin (BTC), Ethereum (ETH), and Coinbase Wrapped Staked Ether (cbETH) as collateral. Powered by the on-chain protocol Morpho on the Base network, the service enables users to borrow up to $5 million in USDC without selling their crypto holdings. Collateral is locked in a smart contract until the loan is repaid, with liquidation triggered if the loan-to-value ratio exceeds a threshold. This follows the service’s successful US launch, where originations surpassed $2.17 billion. The move is part of Coinbase’s broader expansion in the UK, including savings accounts and DEX trading, and aligns with its efforts to integrate crypto into traditional finance, such as recently offering crypto-backed mortgages.

bitcoinist1 h fa

Coinbase Launches Crypto-Backed USDC Loans For UK Users In Latest Expansion

bitcoinist1 h fa

Capital Flow Analysis Shows Ozak AI Absorbing Liquidity From BTC, ETH, and SOL During Market Pullbacks

Capital flow analysis indicates that during recent market pullbacks, liquidity is rotating from major cryptocurrencies like BTC, ETH, and SOL into Ozak AI, an early-stage AI project. Priced at $0.014, Ozak AI has raised over $6.8 million and sold more than 1.17 billion tokens in its presale, showing steady and sustained capital absorption rather than hype-driven spikes. Analysts describe this shift as strategic redeployment, not panic selling, driven by Ozak AI’s relative valuation efficiency, AI-native utility (including Prediction Agents and EigenLayer integration), and favorable risk-reward timing. The trend reflects a structural rotation into high-growth AI infrastructure projects during large-cap consolidation, with Ozak AI emerging as a preferred alternative for asymmetric returns.

TheNewsCrypto2 h fa

Capital Flow Analysis Shows Ozak AI Absorbing Liquidity From BTC, ETH, and SOL During Market Pullbacks

TheNewsCrypto2 h fa

DeFi Falls into the Most Dangerous Prisoner's Dilemma in History

ChainCatcher author Gu Yu analyzes the severe fallout from the Kelp DAO exploit, which has triggered a crisis of confidence across the DeFi ecosystem, implicating major projects like Aave, LayerZero, and Arbitrum. The attack, attributed to the Lazarus Group, exploited a single-validator (1/1) configuration in LayerZero’s decentralized verification network (DVN), leading to over $40M in losses. LayerZero’s official report claimed its protocol “operated as expected” and deflected blame onto Kelp DAO’s configuration choices, sparking backlash from developers and researchers who criticized its avoidance of responsibility. Meanwhile, Arbitrum’s security committee intervened by using a privileged transaction to freeze and recover ~30,766 ETH ($71M) from the hacker’s address—a move praised for pragmatism but criticized for undermining Layer2 decentralization ideals. The incident has intensified debates on cross-chain bridge security, Layer2 centralization risks, and the tension between practical security measures and decentralized principles. With Aave facing ~$200M in bad debt and no clear compensation plan from Kelp DAO or LayerZero, the situation reflects a dangerous “prisoner’s dilemma” where key players prioritize self-interest over collective trust, threatening foundational DeFi narratives.

marsbit2 h fa

DeFi Falls into the Most Dangerous Prisoner's Dilemma in History

marsbit2 h fa

Not Speculation but a Necessity: The 4 Unique Values of Prediction Markets

Polymarket's recent $4 billion funding round and soaring valuation of $15 billion highlight the explosive growth of prediction markets, with trading volume reaching $25.7 billion in March 2026—a 10.6% monthly increase. This analysis argues that prediction markets serve critical non-speculative functions, positioning them as essential tools rather than mere gambling platforms. Prediction markets offer four unique values: entertainment consumption, insurance-like protection, risk hedging, and truth discovery. Firstly, they stimulate economic activity by engaging users in event-based betting, similar to the broader sports industry. Secondly, they act as a form of decentralized insurance, allowing users to hedge against specific, well-defined risks (e.g., weather events) transparently and without traditional overhead costs. Thirdly, institutions and individuals use these markets to hedge against geopolitical and commodity price risks, as demonstrated during the U.S.-Iran conflict and the launch of 24/7 commodity markets on platforms like Kalshi. Finally, prediction markets counter media bias by aggregating crowd-sourced information, often achieving 30% higher accuracy than surveys due to users' vested interests. Experts like Bitwise’s Jeff Park and SIG’s Jeff Yass emphasize the markets' role in risk transfer and financial innovation. As these platforms evolve, they are poised to become trillion-dollar markets, offering more reliable, decentralized mechanisms for information pricing and risk management.

marsbit2 h fa

Not Speculation but a Necessity: The 4 Unique Values of Prediction Markets

marsbit2 h fa

Not Speculation but a Necessity: The 4 Unique Values of Prediction Markets

Polymarket's recent $4 billion funding round, valuing it at $15 billion, highlights the explosive growth of prediction markets, with trading volume surging from $8.7 billion to $25.7 billion in just a few months. This article argues that prediction markets are not merely speculative gambling platforms but serve four core functions. First, they act as a form of entertainment and consumption, stimulating economic activity similar to the sports industry. Second, they provide a form of limited insurance, allowing users to hedge against specific, well-defined risks (e.g., weather events) in a transparent, cost-effective manner without traditional insurance overhead. Third, they are powerful tools for risk hedging, enabling both individuals and institutions to mitigate exposure to volatile events like commodity price swings and geopolitical crises. Finally, prediction markets can function as "truth machines," aggregating crowd wisdom to counter media narratives and biases, with some claims suggesting a 30% higher accuracy over traditional surveys. The piece concludes that the role and potential value of prediction markets are far greater than commonly perceived, positioning them as a significant future market.

Odaily星球日报2 h fa

Not Speculation but a Necessity: The 4 Unique Values of Prediction Markets

Odaily星球日报2 h fa

Trading

Spot

Futures

活动图片