How the CFTC fine on Coinbase could affect future crypto company listing
The Commodity Futures Trading Commission (CFTC) has imposed a $6.5 million fine on Coinbase. The regulator is accusing the Exchange of false or misleading reporting and wash trading, per an official statement. Between 2015 and 2018, according to the CFTC order, a former Coinbase employee engaged in the referenced misconduct on the GDAX platform. The […]
Related News
One of the biggest cryptocurrency exchanges, Kraken, received a $1.25M fine. The Commodity Futures Trading Commission imposed the “civil monetary penalty” plus a cease and desist from “further violations of the Commodity Exchange Act (CEA)” on September 28th. According to the CFTC, Kraken provided margin for commodity transactions to retail clients in the U.S. who were not suitable to use those products. Related Reading | How the CFTC fine on Coinbase could affect future crypto company listing The fine, however, seems like a slap on the wrist for a gargantuan company like Kraken.....
The crypto exchange escapes regulatory scrutiny with a slap on the wrist, but no stock listing on exchanges until next month After settling charges of improper reporting of exchange volume and “self-trading” with the CFTC yesterday, reports have emerged that cryptocurrency exchange giant Coinbase is set to push back its stock listing to next month. The company had previously been expected to go public some time in March. Yesterday, March 19 the Commodity Futures Trading Commission announced a settlement with Coinbase over charges that the company inaccurately reported trading data on....
Is a $100-billion valuation justified? Profit margins could tighten with increased competition. The Coinbase direct stock listing could be a rite of passage for the blockchain and cryptocurrency industry, and the announcement on March 20 by the United States Commodity Futures Trading Commission of a $6.5-million fine against Coinbase for “wash trading” and filing misleading information probably won’t do more than postpone by a few weeks the distinction of being the first crypto-native corporation to be listed on a major U.S. stock exchange.But questions surround Coinbase’s upcoming debut....
The San Francisco-based company could be the first crypto exchange to go public in the United States. U.S.-based crypto exchange Coinbase says it anticipates going public with a direct stock listing in two weeks.According to a Coinbase blog today, the U.S. Securities and Exchange Commission, or SEC, has declared the crypto exchange's S-1 registration for a public offering effective. Coinbase's Class A common stock is expected to trade on the Nasdaq Global Select Market under the ticker symbol "COIN" on April 14. The crypto exchange had previously been expected to go public in March, but....
The Commodity Futures Trading Commission (CFTC) has fined cryptocurrency exchange Coinbase $6.5 million “for reckless false, misleading, or inaccurate reporting as well as wash trading.” This enforcement action came as Coinbase is getting ready for its initial public offering (IPO) on Nasdaq. CFTC Takes Action Against Coinbase The CFTC announced Friday that it has issued an order settling charges against cryptocurrency exchange operator Coinbase Inc. “for reckless false, misleading, or inaccurate reporting as well as wash trading.” The regulator wrote: The order....