# Сопутствующие статьи по теме Regulation

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Regulation", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Coinbase: The Evolution from a Fringe Project to Global Financial Infrastructure

Coinbase's journey from a 2012 Y Combinator project to a global crypto financial infrastructure is a story of contrarian strategy, internal turmoil, and aggressive political maneuvering. Its early success stemmed from a focus on compliance and trust in a rebellious industry, securing banking relationships and state licenses to become a safe haven after the Mt. Gox collapse. Internally, the company faced crises, including a 2020 "apolitical" cultural purge where 5% of employees left, and serious racial discrimination allegations. It also navigated the first crypto insider trading case, which became a legal prelude to SEC challenges. Facing regulatory pressure, Coinbase fought back legally and politically. It spent over $119 million in the 2024 election cycle, successfully ousting crypto-skeptic Senator Sherrod Brown, and shifted Washington's stance on crypto. Financially, Coinbase transformed its business model. While 96% of its revenue came from trading fees in 2020, by 2025, nearly half is from stablecoin services (USDC), staking, and ETF custody—where it holds an 85% market share of Bitcoin ETF assets. Looking ahead, Coinbase is expanding into Web3 with its Base blockchain (adopting a no-token strategy) and aims to become an "Everything Exchange," offering stocks and commodities. However, its dominance creates systemic risks, as its concentration of ETF custody assets makes it a potential single point of failure.

marsbit01/19 06:20

Coinbase: The Evolution from a Fringe Project to Global Financial Infrastructure

marsbit01/19 06:20

The United States Will Not Reject Stablecoins

The article argues that the U.S. has no fundamental reason to reject stablecoins, despite regulatory friction. The debate centers on the "passive yield" mechanism, with traditional banks fearing massive deposit outflows—potentially up to $6 trillion—from community banks into yield-bearing stablecoins like USDC, which could raise lending costs. Coinbase counters that yield is a tool for user benefit and efficiency, helping users escape near-zero bank interest rates. Stablecoin issuers like Tether and Circle have become significant buyers of U.S. Treasury bonds, holding $1700 billion in Treasuries and accounting for a small but growing share of the money supply. With foreign demand for U.S. debt declining, stablecoins help sustain Treasury markets. The piece traces the rapid evolution of on-chain yield mechanisms, from Ethena’s USDe—which surged then contracted after deleveraging events—to more mature vault-based models like those on Morpho. While on-chain yield products have advanced, real-world adoption in payments remains limited. The solution proposed is integrating yield into payment systems, making yield a default feature during transactions—not just when holding or idling—thus benefiting users, merchants, and platforms. Examples like Airwallex’s yield products and travel platform partnerships show the potential. The conclusion is that stablecoins must expand utility and user base to succeed, with the next challenge being the governance of yield vaults to prevent systemic risks.

marsbit01/19 03:37

The United States Will Not Reject Stablecoins

marsbit01/19 03:37

"Black Monday" Strikes Again, Trump Becomes the "Flash Crash Engine" Once More?

The cryptocurrency market experienced a sharp decline on Monday, with Bitcoin dropping below $92,000, Ethereum falling under $3,200, and Solana retreating to around $133. Over $593 million was liquidated in four hours, predominantly long positions. The primary trigger appears to be political and economic uncertainty stemming from former President Trump's actions. Key factors include a sudden shift in the frontrunner for the next Federal Reserve Chair. Kevin Hassett, a perceived dove, appears to be out of contention, while the odds for the more hawkish Kevin Warsh have surged to 60%. This potential change in leadership at the Fed has created market volatility. Furthermore, Trump's aggressive trade policies are causing global economic tensions. He has threatened to impose tariffs of up to 25% on imports from several European nations, including Denmark, France, and Germany, linked to a dispute over Greenland. This has prompted threats of retaliatory tariffs from the EU. Trump also criticized the EU for its hefty fines on U.S. tech firms, calling them discriminatory. Adding to the market's woes, the U.S. Senate delayed a crucial crypto market structure bill, the CLARITY Act, due to significant disagreements over stablecoin yields and DeFi regulations. This regulatory uncertainty contributed to the sell-off. In response to these combined macro pressures and after a recent price run-up, many traders are choosing to take profits and increase their cash holdings, expecting the market correction to continue in the short term.

Odaily星球日报01/19 02:05

"Black Monday" Strikes Again, Trump Becomes the "Flash Crash Engine" Once More?

Odaily星球日报01/19 02:05

Nigerian SEC Partners With Police To Tackle Crypto Ponzi Schemes – Details

Nigerian SEC Partners With Police To Tackle Crypto Ponzi Schemes – Details The Nigerian Securities and Exchange Commission (SEC) is intensifying its focus on the local cryptocurrency industry. It has formed an alliance with the Nigeria Police Force (NPF) to combat cryptocurrency fraud and other illegal operations. SEC Director-General Dr. Emomotimi Agama, meeting with the Inspector General of Police, expressed deep concern over malicious actors exploiting investors' trust through the "glamorous but misunderstood language of cryptocurrency and forex trading." He described these actions as a social menace that erodes public confidence. To close the enforcement gap, Dr. Agama proposed creating a specialized SEC-NPF team with financial and tactical intelligence to curb investment fraud. The IGP approved the collaboration. This initiative follows significant crypto scams in Nigeria, most notably the crash of the Crypto Bridge Exchange (CBEX) in April 2025, which resulted in over $916 million in lost user funds. Alongside this new partnership, the SEC has implemented other protective measures, including revised minimum capital requirements for Virtual Asset Service Providers (VASPs) and publishing a list of identified fraudulent businesses. This regulatory push is crucial for Nigeria, a fast-growing crypto hub where approximately 22 million people hold digital assets.

bitcoinist01/18 12:01

Nigerian SEC Partners With Police To Tackle Crypto Ponzi Schemes – Details

bitcoinist01/18 12:01

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