Brian Armstrong

Photo: Jakub Porzycki/NurPhoto (Getty Images)Coinbase users are reporting that their accounts are showing a “zero balance” on Wednesday afternoon. Coinbase confirmed the problem on its status page at 12:40 p.m. ET but claims customer cryptocurrency funds are safe. This comes as Bitcoin’s price surged nearing its all-time high. Crypto Exchanges Restrict Withdrawals“We are aware that some users may see a zero balance across their Coinbase accounts and may experience errors in buying or selling,” said Coinbase’s status page.…

The world's largest cryptocurrency exchange by trade volume, Binance, came under regulatory scrutiny earlier this year when the US Department of Justice (DOJ), along with the Commodity Futures Trading Commission (CFTC) cracked down on the company's lack of regulatory and legal mechanisms to prevent transactions made to fund terrorism, drug deals, and other illegal activities, as per the agencies. On Tuesday, the CEO of the company, Changpeng Zhao, pleaded guilty and agreed on a settlement worth 4.3 billion dollars.But if…

Federal prosecutors and the courts in New York are sounding the horn, proclaiming run-of-the-mill financial crimes also apply to digital tokens as much as fiat currency. On Tuesday, a judge finally sentenced former Coinbase product manager Ishan Wahi to two years in prison for insider trading. Prosecutors said Wahi used his privileged position within the crypto exchange to help his brother and another friend buy and sell crypto based on his insight into the whirlwind speculative market that is cryptocurrencies.Crypto…

Coinbase Global has reiterated its view to the US Securities and Exchange Commission that it has not broken any securities laws in its formal response to a legal threat received from the regulator, the firm said on Thursday. Coinbase CEO Brian Armstrong and Chief Legal Officer Paul Grewal said the crypto exchange would like to list securities in the future but would not feel comfortable given the regulatory uncertainty, in a response to the SEC made public on Thursday. "Coinbase does not list securities," Grewal said.…

Coinbase Global Inc. COIN 12.96% said that it would eliminate around 20% of its staff and enact broad cost cuts, the latest sign of pain in the cryptocurrency industry. Chief Executive Brian Armstrong said in a blog post Tuesday that crypto exchange Coinbase will reduce operating expenses by 25% from the previous quarter, including laying off about 950 people. At the end of September, the company had…

Coinbase announced its second round of layoffs in less than a year on Tuesday.Photo: rarrarorro (Shutterstock)Coinbase announced on Tuesday that it would lay off 20% of its employees—950 people out of an estimated 4,700—in an effort to significantly reduce its operating expenses. It’s the company’s second large round of layoffs in less than a year. In June, Coinbase laid off 1,100 employees. The company made the move to “weather the downtowns” in the crypto market over the next two financial quarters. In a blog post,…

Coinbase COIN -6.00% Global Inc. Chief Executive Brian Armstrong believes that regulation will help fuel the rise of a stablecoin backed by his exchange. USD Coin will become “the de facto central bank digital currency” of the U.S., he said in a Friday interview.  “If we can get regulatory clarity, I think it will sort of shepherd in or grandfather in some of these stablecoins that have been…

Singapore’s desire to be a hub for the so-called web3 industry conflicts with its proposed curbs on retail crypto trading, Coinbase Global CEO Brian Armstrong said. Singapore's desire to be a hub for the so-called web3 industry conflicts with the city-state's proposed curbs on retail crypto trading, Coinbase Global Inc.'s Chief Executive Officer Brian Armstrong said. “To say Singapore wants to be a web3 hub and then simultaneously say we aren't really going to allow retail to trade” is “incompatible,” Armstrong said…

Brian Armstrong, CEO and Co-Founder of Coinbase.Photo: PATRICK T. FALLON / Contributor (Getty Images)Coinbase wants to talk politics again. The cryptocurrency has launched a tool to inform its users where their representatives stand on crypto. This week, Coinbase began integrating the company’s crypto policy efforts into its app. The company’s CEO, Brian Armstrong, said on Twitter the move will “help our 103M verified users get educated on the crypto positions held by political leaders where they live.”The company pretty…

Coinbase, one of the world’s largest exchanges by trading volume, has been bombarded with class action lawsuits this past month as it battles for consumers’ good graces.Photo: 24K-Production (Shutterstock)Any institution regularly dealing with customers’ money will be a prime target for lawsuits, but Coinbase, one of the most popular crypto exchanges on the scene, has been practically showered with legal complaints just this past month, all of them aspiring class action suits. On Tuesday, a class action suit was filed in…